CASE STUDY: what ceo’s can learn from barbie
Image credit: Warner Bros
Barbie’s story from a cultural relic to the hottest pop culture phenomenon and highest grossing movie of 2023 is not just a masterclass in brand reinvention, it’s also the result of a deeper transformation at parent company Mattel, where I served as Vice President, Culture and Transformation, at a time when Purpose was rediscovered.
When Mattel launched "Teen Talk Barbie" in 1992, one of her phrases "Math is tough, let’s go shopping!" reinforced every outdated stereotype about women. Barbie, once a cultural trailblazer, had seemingly regressed into a symbol of superficiality and consumerism.
Image credit: athomaspointofview.com
But that wasn’t what Ruth Handler, Mattel’s co-founder, had in mind when she created Barbie in the 1950s. Her vision was radical for its time: "My whole philosophy around Barbie was that through the doll, the little girl could be anything she wanted to be.” From the start, Barbie was meant to be a symbol of empowerment, not limitation.
Image credit: Mattel
And for a while, she was. Barbie became a fashion designer in 1960, a college graduate in 1963 (when only 6.7% of American women held degrees), and an astronaut in 1965—four years before humans even landed on the moon.
Image credit: Mattel
But by the 1980s and ‘90s, Barbie had lost her way and turned from inspiration to stereotype. Sales plateaued, and the once-beloved brand risked fading into irrelevance.
At Mattel, we had a choice: let Barbie become a relic of the past or return to its roots.
We chose reinvention.
The Power of Rediscovering Purpose
The turning point came when Mattel asked a fundamental question: What societal value can Barbie bring today? How can the brand’s heritage lead it into a new era? What hidden ‘Superpowers’ can we use to have the brand make a relevant contribution to the world again? In the midst of this new phase of self-discovery, a groundbreaking study by Princeton University researchers found that while boys and girls are similarly self-confident until they are age 5, because of cultural stereotypes from the age of 6, girls are on average less likely to believe in their own abilities than boys. However, the study also found that successful female role models can fill this gap.
This insight triggered the reinvention of Barbie, and created her new calling: "to inspire the limitless potential in every girl" was defined as the central purpose of the brand, not merely as an advertising message, but as a product and innovation maxim.
Image credit: Mattel
A new series of so-called "Sheroe" Barbies based on real life women who have already broken through the glass ceiling in the most inspiring ways, proved to girls that they could be anything, and in short order the brand diversified Barbie’s body types, skin tones, and abilities, so all children could see themselves in the brand’s promise.
Image credit: Mattel
In short order the brand diversified Barbie’s body types, skin tones, and abilities, so all children could see themselves in the brand’s promise.
The rest is history: children, parents, media and culturally influential celebrities from all over the world rediscovered their love for Barbie. The once struggling brand experienced explosive new growth, culminating in the 2023 Barbie movie that grossed almost $1.5 billion at the Box Office
Image credit: Mattel
Purpose as a Catalyst for Corporate Transformation
But Barbie’s revival wasn’t just about the doll. It was about Mattel rediscovering its own reason for being. As a company, Mattel had always been in the business of play. But play isn’t just entertainment—it has the potential to shape and develop critical childhood skills, like creativity, problem-solving, and collaboration. That realization led to Mattel’s new corporate purpose:
"Empowering the next generation to explore the wonder of childhood and reach their full potential."
Image credit: Mattel
To deeply anchor the new Purpose in Mattel’s culture and behaviors, we then developed a new set of values, encapsulated in the acronym W.O.N.D.E.R, and inspired and aligned the leadership team around it:
What If – Why Not? (Curiosity and innovation)
One Team (Collaboration across functions)
Nimble (Agility in decision-making)
Driven (Commitment to performance)
Entrepreneurial (Ownership and initiative)
Respectful (A culture of inclusivity)
Image credit: Mattel
With leaders being fully on board with the new purpose and values framework, we redesigned the entire employee experience, from hiring, onboarding, performance management, recognition and leadership development to all employee communications across touch points, inspiring teams everywhere to drive purposeful innovation and growth.
Image credit: Mattel
Starting from the inside out, Purpose and Values became a launchpad for innovation and growth across Mattel’s entire brand portfolio. Barbie was reinvented around girls empowerment. Fisher-Price refocused on early childhood development. Hot Wheels started to lean into STEM education. Thomas & Friends partnered with the United Nations to promote sustainability and equality. And Mattel introduced entirely new brands, like "Creatable Worlds”.
Image credit: Mattel
Lessons for CEOs: Purpose is Not a Marketing Campaign - It’s Company Strategy
Mattel’s turnaround offers a blueprint for leaders navigating transformation and creating new growth:
Find Your North Star: Discover your organization’s unique strengths and hidden ‘Superpowers,’ and leverage them to solve unmet societal needs and create new value for the world.
Turn Purpose into Culture: Shape internal values, design powerful employee experiences, and align strategic decisions.
Reignite your brands: Leverage Purpose to drive innovation and turn consumers into loyal fans and ambassadors for your brands.
Barbie’s reinvention is more than a brand comeback story. It’s proof that companies who transform and innovate with Purpose don’t just survive, they thrive.
If anything sparks your interest in this or the following articles, please do email philipp@purposefulgrowth.co