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Concept
Mattel
Summary
Mattel, Inc. (məˈtɛl ) is an American multinational toy manufacturing and entertainment company founded in Los Angeles by Harold Matson and the husband-and-wife duo of Ruth and Elliot Handler in January 1945 and headquartered in El Segundo, California. Mattel has a presence in 35 countries and territories; its products are sold in more than 150 countries. Mattel consists of three business segments: North America, International and American Girl.
It is the world's second largest toy maker in terms of revenue, after The Lego Group. Two of its historic and most valuable brands, Barbie and Hot Wheels, were respectively named the top global toy property and the top-selling global toy of the year for 2020 and 2021 by The NPD Group, a global information research company.
Businessman Harold "Matt" Matson and the husband-and-wife duo of Elliot and Ruth Handler founded Mattel as Mattel Creations in January 1945 in a garage in Los Angeles. The company name chosen is a portmanteau of the surname of Matson and first name of Elliot, with former chairman and CEO Bob Eckert revealing at a 2013 Christmas Day Peninsula Seniors lecture that the founders, according to Elliot, couldn't fit Ruth's name into that of their company. The company began selling picture frames and later dollhouse furniture out of the scraps from those frames. Matson sold his share and stake to the Handlers due to poor health the following year, with Handler's wife, Ruth, taking over his stake. In 1947, the company had its first successful toy, a ukulele called "Uke-A-Doodle".
The company was incorporated in Hawthorne, California in 1948. In 1950, the Magic 8-Ball, currently owned by Mattel themselves, was invented by Albert C. Carter and Abe Bookman. Mattel started television advertisement when it became the first sponsor of the Mickey Mouse Club TV series. The Fisher-Price Corn Popper, and the Xylophone was released in 1957. Mattel would ultimately acquire Fisher-Price on August 20, 1993. The Barbie doll debuted on March 9, 1959, going on to become the company's best-selling toy in history.
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