Barbie is about to get a new toy: an exotic Ferrari Testarossa that is likely to make boyfriend Ken either jealous or proud.
It's all part of a new six-year agreement Ferrari S.p.A. signed recently with Mattel Inc. Mattel, the El Segunda, Calif., toy company famous for the Barbie doll, won't just make Ferrari scale models, but also electric racing tracks and sportswear. Ferrari projects worldwide revenue from that side of the business will grow to $214 million this year, up from a projected $201 million last year and $183 million in 1998. About $11.1million in 1999 revenues will return to the company as royalties, company execs say.
Ferrari has been in the merchandising and licensing business since 1995 and had more than 50 partners in 1998, the last year for which complete figures are available.
Of 1998 revenues, 24.4 percent came from video games, the top-selling Ferrari merchandise. Then came T-shirts and clothing, which represented 23.5 percent of sales, followed by scale models, at 17.9 percent.
With Mattel, Ferrari expects scale models and other Mattel-made products will represent about 43 percent of its worldwide licensing revenues.