Mattel, Inc.
Company History
Mattel History: Founding, Growth & Key Milestones
Founded 1945 in Los Angeles, California, United States
When was Mattel founded?
Mattel was founded in 1945 in Los Angeles, California, United States by Ruth Handler, Elliot Handler and Harold Matson, making it 81 years old.
- Founded
- 1945
- Founding place
- Los Angeles, California, United States
- Founders
- Ruth Handler, Elliot Handler and Harold Matson
- Headquarters today
- El Segundo, California, United States
- Milestones documented
- 11 (1945–2026)
- Current CEO
- Ynon Kreiz
- Acquisitions
- 9
| Year | Event |
|---|---|
| 1945 | Founding of Mattel |
| 1959 | Introduction of Barbie |
| 1968 | Introduction of Hot Wheels |
| 1993 | Acquisition of Fisher-Price |
| 1997 | Acquisition of Tyco Toys |
| 1998 | American Girl Acquired |
| 2011 | Acquisition of Hit Entertainment |
| 2018 | Appointment of Ynon Kreiz as CEO |
| 2023 | Release of Barbie Feature Film |
| 2026 | Full ownership of Mattel163 |
| 2026 | Masters of the Universe film released |
- Where was Mattel founded?
- Mattel was founded in Los Angeles, California, United States in 1945. en.wikipedia.org
- Who founded Mattel?
- Mattel was founded by Ruth Handler, Elliot Handler and Harold Matson.
- When did Mattel start?
- Mattel was founded in 1945.
- How old is Mattel?
- Mattel is 81 years old as of 2026.
Founding Story
Mattel began in 1945 when Harold 'Matt' Matson and Elliot Handler, with Ruth Handler, started making picture frames in a Los Angeles garage and turned the wood scraps into dollhouse furniture. Toys soon replaced frames. In 1959 Ruth Handler, who had watched her daughter Barbara play with paper dolls of grown women, launched Barbie at the American International Toy Fair in New York, giving girls an adult fashion doll at a time when most dolls were babies. Barbie became the company's defining product.
Founders
Ruth Handler
Ruth Handler co-founded Mattel in 1945 with her husband Elliot Handler and Harold Matson in a Los Angeles garage. She ran much of the business side and pushed Mattel into year-round television advertising on The Mickey Mouse Club in 1955. Inspired by her daughter Barbara's play with paper dolls of adult women, she developed Barbie, launched in March 1959 despite doubts from colleagues. She named the doll after Barbara and the Ken doll (1961) after her son Kenneth. The Handlers left Mattel in the mid-1970s, and Ruth later founded Nearly Me, a maker of breast prostheses, after her own breast cancer surgery. She died in 2002. Ruth Handler was born in 1916.
Elliot Handler
Elliot Handler co-founded Mattel in 1945 with his wife Ruth and Harold Matson; the company name combines 'Matt' and 'Elliot'. A designer by training, he focused on product ideas while Ruth handled much of the business. Early hits included the Uke-A-Doodle toy ukulele, and he championed Hot Wheels die-cast cars, launched in 1968. He led Mattel alongside Ruth until the couple left the company in the mid-1970s. He died in 2011. Elliot Handler was born in 1916 in Chicago. Education: Art Center College of Design.
Harold Matson
Harold 'Matt' Matson co-founded Mattel with Elliot Handler in 1945, and his nickname supplied the first half of the company's name. He worked on the early picture frames and dollhouse furniture, then sold his stake to the Handlers within a couple of years because of poor health. (Exact birth year remains publicly undisclosed).
Key Milestones
Founding of Mattel
Harold Matson, Elliot Handler, and Ruth Handler found Mattel in a one-car garage in South Central Los Angeles, initially manufacturing picture frames and dollhouse furniture from scrap wood.
Source: en.wikipedia.orgIntroduction of Barbie
Mattel introduces the Barbie doll at the American International Toy Fair in New York, creating the adult fashion doll category that remains its largest brand.
Source: en.wikipedia.orgIntroduction of Hot Wheels
Mattel introduces the Hot Wheels line of die-cast cars, utilizing a unique axle and wheel design to achieve speed, capturing the boys' market and establishing Mattel as a dual-gender toy leader.
Source: en.wikipedia.orgAcquisition of Fisher-Price
Mattel acquires Fisher-Price for $1.1 billion, adding the heritage infant and preschool brand to its portfolio and securing its position as the market leader in the juvenile products category.
Source: en.wikipedia.orgAcquisition of Tyco Toys
Mattel acquires Tyco Toys for $750 million, adding the Matchbox die-cast brand and the Super Stuff line to its portfolio, significantly expanding its presence in the boys' and preschool segments.
Source: en.wikipedia.orgAmerican Girl Acquired
Mattel bought Pleasant Company, the maker of American Girl dolls, in 1998 for about $700 million.
Source: en.wikipedia.orgAcquisition of Hit Entertainment
Mattel acquires Hit Entertainment, the owner of the Thomas & Friends and Barney brands, for $680 million, expanding its preschool portfolio and securing long-term licensing revenue streams.
Source: en.wikipedia.orgAppointment of Ynon Kreiz as CEO
Ynon Kreiz is appointed CEO, initiating a radical pivot from a traditional plastic toy manufacturer to a global franchise management company focused on intellectual property monetization and cinematic universes.
Source: en.wikipedia.orgRelease of Barbie Feature Film
The Barbie feature film generates $1.48 billion at the global box office, driving a surge in retail sales and validating the companys franchise model pivot.
Source: en.wikipedia.orgFull ownership of Mattel163
Mattel completes the $159 million purchase of NetEase's 50% stake in the Mattel163 mobile games studio in March 2026, valuing the studio at $318 million.
Source: investors.mattel.comMasters of the Universe film released
Mattel's Masters of the Universe live-action film is released globally on June 5, 2026.
Source: investors.mattel.comMajor Acquisitions
Holiday
1979Mattel acquired Holiday in 1979 for $12 million.
Corgi Toys
1989Mattel acquired Corgi Toys in 1989.
Fisher-Price
1993Mattel acquired Fisher-Price to add the heritage infant and preschool brand to its portfolio, securing its position as the market leader in the juvenile products category and capturing the consumer from birth.
Pleasant Company
1998Mattel acquired Pleasant Company in 1998.
Learning Company
1999Mattel bought educational software maker The Learning Company in 1999 for about $3.5 billion in stock; the deal produced heavy losses and the unit was disposed of in 2000.
Radica Games
2006Mattel acquired Radica Games in 2006.
Hit Entertainment
2011Mattel acquired Hit Entertainment, the owner of the Thomas & Friends and Barney brands, to expand its preschool portfolio and secure long-term licensing revenue streams from popular children's television properties.
Mega Brands
2014Mattel acquired Mega Brands in 2014.
Mattel163 (NetEase's 50% stake)
2026Mattel bought NetEase's half of the Mattel163 mobile games joint venture, valued at $318 million, to own its digital games studio outright. The deal closed in March 2026.
Keep researching Mattel
Mattel Company History FAQ
What are the major historical milestones of Mattel from 1945 to today?
Milestones include garage founding (1945), Mickey Mouse Club TV sponsorship (1955), launch of Barbie (1959), public IPO (1960), launch of Hot Wheels (1968), acquiring Fisher-Price (1993), acquiring American Girl (1998), Ynon Kreiz becoming CEO (2018), and the historic $1.44B 'Barbie' movie (2023).
When did Mattel complete its Initial Public Offering (IPO)?
Mattel completed its Initial Public Offering in 1960, listing on the American Stock Exchange before transitioning to the New York Stock Exchange in 1963 and subsequently joining the NASDAQ Global Select Market (NASDAQ: MAT).
How did the launch of Hot Wheels in 1968 transform toy cars?
Introduced in 1968 with the 'Sweet 16' lineup (including custom Corvettes and Camaros), Hot Wheels featured vibrant 'Spectraflame' paint, low-friction redline tires, and bright orange modular plastic tracks with loop-the-loops, outselling Matchbox cars worldwide.
What was the well-known launch of Masters of the Universe (He-Man) in 1982?
In 1982, Mattel launched Masters of the Universe featuring He-Man and Skeletor, pioneering the strategy of pairing action figures with a syndicated daily animated television series ('He-Man and the Masters of the Universe' by Filmation), generating hundreds of millions in 1980s sales.
How did the 2017 Toys 'R' Us bankruptcy impact Mattel and trigger its turnaround?
The September 2017 bankruptcy of Toys 'R' Us (Mattel's second-largest customer) created severe unpaid receivables and retail liquidation chaos, prompting the Mattel board to recruit media executive Ynon Kreiz in 2018 to execute a total corporate reinvention.
How did Mattel celebrate Barbie's 65th anniversary in 2024?
In 2024, Mattel celebrated Barbie's 65th anniversary with commemorative heritage doll collections, global landmark light-ups in Barbie pink, and partnerships with female sports role models (including Venus Williams) to inspire young girls globally.
What made the 2023 'Barbie' movie marketing campaign a historic masterclass?
The 'Barbie' movie marketing campaign created a global cultural phenomenon, securing over 100 brand partnerships (Airbnb's Malibu DreamHouse, Xbox, Zara, Crocs), turning the world pink, generating billions in earned media impressions, and proving Mattel's IP entertainment strategy.
What is Mattel's ultimate vision for the future of play and family entertainment?
Mattel's vision is to inspire, entertain, and develop children through play, evolving from a traditional toy manufacturer into a leading global IP-driven entertainment company that creates timeless cultural moments across toys, film, gaming, and live experiences.
How did Mattel start?
Mattel was founded in 1945 in a Southern California garage by Harold "Matt" Matson and Elliot Handler (the name "Mattel" is a blend of their names). They originally manufactured wooden picture frames. Using the leftover scrap wood, Elliot started making dollhouse furniture, which became vastly more profitable. However, the absolute turning point in history occurred in 1959 when Elliot's wife, Ruth Handler, completely revolutionized the toy industry by inventing Barbie.
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