The world's first Barbie flagship store has just opened its doors in Shanghai.
Hoping to cash in on Chinese consumerism, Mattel spent a cool US $30 million to build the massive, 3,400 square-meter, 'House of Barbie' store.
Barbie dolls and all Barbie-related products are sold at the store, including toys, movies, books, shoes, clothing, cosmetics, bedding and home decorations.
Two new Barbie Dolls, one Asian and one Caucasian, were also developed for the grand opening.
Implications - Developing expansion stores and products of an already popular brand is a great way for businesses to attract media and consumer attention. It is also an effective method of ensuring that customers will demonstrate be drawn toward their company due to the familiarity of a product.
What's Driving This Trend
- Expansion of Flagship Stores
- Building flagship stores for popular brands can attract media and consumer attention, creating familiarity and drawing customers towards the company.
- Diversifying Product Lines
- Expanding product lines of well-established brands can lead to increased consumer interest and loyalty.
- Cultural Representation in Toys
- Developing dolls that represent different ethnicities can cater to diverse markets and promote inclusivity in the toy industry.
Who This Affects Most
- Retail
- Building flagship stores can revitalize the retail industry by attracting more customers and creating buzz around the brand.
- Toys and Games
- Expanding product lines to include various toys and accessories can drive growth in the toy industry.
- Fashion and Lifestyle
- Creating fashion and lifestyle products related to a popular brand can generate new revenue streams and appeal to fans of the brand.
