Barbie's brand value has risen slightly to USD720.8 million, according to new data from Brand Finance, the world’s leading brand valuation consultancy. The iconic doll brand has also seen a slight uptick in its brand strength index (BSI) score to 88/100, now commanding a strong AAA brand strength rating. As such, Barbie moves up one rank overall to take third place in Brand Finance’s latest Toys 25 ranking. This growth comes amidst broader challenges facing toy manufacturer Mattel and the global toy industry, which has seen an overall decline in brand value.
Barbie’s brand saw a resurgence late last year following the release of Greta Gerwig’s megahit Barbie movie, which became the highest-grossing film of 2023 and a cultural phenomenon across the world. The movie's triumph significantly bolstered Barbie's global brand recognition, captivating audiences worldwide with its modern twist on the story of the iconic doll.
That said, while the Barbie brand has seen promising growth on the back of the movie, Mattel’s overall sales outlook has been limited. Mattel’s slipping sales have raised doubts as to whether this success will translate into sustained interest in the Barbie brand in the coming years. This downward trend reflects broader economic challenges affecting consumer demand within the toy industry, where declining interest in toys presents additional hurdles for companies like Mattel to navigate.
Richard Haigh, Managing Director, Brand Finance UK, commented:
“The Barbie film undoubtedly garnered significant global attention and contributed to an uptick in engagement with the Barbie brand, especially among young adults who enjoyed the film’s nostalgia. That said, a single cinematic success does not guarantee sustained growth. More brand engagement and popularity does not automatically translate into more Barbie doll purchases. To fuel further growth for the Barbie brand in the coming years, Mattel must find ways to strategically leverage this global brand exposure to maintain consumer interest in its iconic doll line, particularly among the key toy-purchasing demographics.”
LEGO is the world’s most valuable toy brand for the tenth year running, increasing its brand value by 6.5% to USD7.9 billion. Fuelled by a year of solid sales growth, the brand has opened 147 new Lego-branded stores worldwide, bolstered its digital presence, and rolled out innovative new product lines. As one of the world's most recognisable toy brands, LEGO's enduring dominance at the top of the rankings also underscores decades of built-up brand equity and enduring nostalgia that continues to resonate with consumers across the globe. As such, it has become the world’s strongest toy brand in 2024, with a BSI score of 88/100.
Japanese toy giant Hello Kitty is the fastest-growing toy brand in 2024, increasing its brand value by 27% to USD208.5 million. The brand continues to enjoy massive exposure and popularity in its home market, which has fuelled strong sales growth in recent years. Behind Hello Kitty, One Piece is the second-fastest-growing toy brand, with its brand value up 18.5% to USD132 million.