In an interview with CNBC's Jim Cramer, Mattel CEO Ynon Kreiz said his company's goals are growing beyond the toy aisle and into capturing the value of its brands' intellectual property for ventures like film franchises.
"We are here to build film franchises," Kreiz said.
Kreiz said the Barbie was a showcase for what Mattel can bring to the table in the future.
"This is about how do you take successful brands and execute an IP strategy across multiple verticals, highly-accredited business verticals that in some cases are bigger than the toy industry, all driven by big franchises," Kreiz said.
Mattel also saw 19% growth in its sales of Hot Wheels toys this quarter, and Kreiz said the company sees "tremendous opportunity ahead" with the brand, mentioning the upcoming live-action Hot Wheels film produced by JJ Abrams.
Persons:
CNBC's Jim Cramer, Ynon Kreiz, Kreiz, Barbie, Wednesday's, JJ Abrams
Organizations:
Mattel, Wall