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Mattel, the maker of best-selling dolls like Barbie dolls and Hot Wheels, has closed two factories in Asia and plans to close two more around the world.
The toy giant appears to be following the lead of rival toy maker Hasbro, which has outsourced much of its production. Mattel employs up to 35,000 people at any time of the year, according to the Wall Street Journal.
Mattel said last week that its Mega Bloks plant in Montreal, Canada will close in 2021 after opening in 2014. The company has previously said it will merge two factories in Mexico (meaning one of them will close) under the Capital Light program to reduce its footprint.
Mattel said it closed a finished goods plant in China and a tooling plant in Indonesia in 2019, according to the Wall Street Journal.
“Over the past year, we have been working to transform our global supply chain, which we believe is becoming a competitive advantage. We will continue to optimize our manufacturing operations, improve the performance of our manufacturing infrastructure, and improve the quality of our global supply chain efficiency,” said the director Mattel Supply Chain Coordinator Roberto Ises in a statement provided to Fox Business.
The news comes as Mattel continues to reimagine Barbie, including through its new inclusive line, which includes Barbies with prosthetics, a hairless doll, a Barbie in a wheelchair, and a Barbie doll with vitiligo, a skin condition.
Quotes are displayed in real time or with a delay of at least 15 minutes. Market data provided by Factset. Maintained and implemented by FactSet Digital Solutions. Legal notices.
This material may not be published, broadcast, rewritten or distributed. © 2023 Fox News LLC. all rights reserved.FAQ – New Privacy Policy
Post time: Aug-23-2023
