Transformation plan delivering positive results across the region.
Mattel’s Q3 results were unveiled this week, with the company posting an overall increase in sales of 3%. Toy World spoke exclusively to Mattel’s EMEA managing director Sanjay Luthra to hear about the performance of the EMEA operation during the period.
Sanjay confirmed that EMEA was one of the best-performing global regions in Q3: “The EMEA operation posted sales growth of 15%, which comfortably outperformed the market over this quarter. The turnaround from the same period last year – when we were down by 7% – proves that the transformation plan which we have initiated is working well. What’s more, the results from our core European markets were even stronger than those of the territory as a whole. Of course, we are still at the beginning: there is so much more still to do.”
Asked which brands were driving the EMEA business, Sanjay confirmed: “Barbie continues to build strong momentum, as does Hot Wheels – we’ve enjoyed particular success with the Monster Trucks range, which has performed incredibly well since its launch. The Games category is another strong area for us, while Enchantimals and Polly Pocket continue to deliver very good numbers in the EMEA region.”
Retail relationships remain key to unlocking Mattel’s full potential across EMEA, as Sanjay explains: “Despite a challenging European retail landscape, we are gaining share through successful partnerships, as we continue to work closely with our retailers and customers to build strategic long-term solutions, while improving omni-channel capabilities and delivering 360 marketing programmes. The whole team is focused externally; we’re working closely with our retail partners to understand their challenges and, importantly, to address them. We see this as a key differentiator for us as a business; if our retail partners are successful, it will also bring success to us.”