December 24, 2008 / 12:08 PM / 10 years ago

Mattel working to revamp brand Barbie: report

(Reuters) - Mattel Inc has begun a makeover of its Barbie brand, doing everything from revamping the unit’s corporate structure to changing the way the doll is photographed for advertisements, the Wall Street Journal said.

The world’s largest toymaker wants to make Barbie fashionable again with older girls, who are dropping her for playthings like video games, the paper said.

No-one at Mattel could immediately be reached for comment.

According to the paper the Barbie franchise will bring in an estimated $1.2 billion in revenue this year, about a fifth of Mattel’s total sales.

The toymaker cut about 1,000 jobs in November due to the difficult economic environment. It has been hurt by competing product lines from Walt Disney Co and family-owned MGA Entertainment, as well as legislation over lead-tainted toys from China.

Reporting by Eric Yep in Bangalore; Editing by David Holmes

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