Latest news with #Barbies
USA Today
a day ago
- Business
- USA Today
Hasbro layoffs: Toymaker restructures due to tariff struggles and weak demand
Hasbro layoffs: Toymaker restructures due to tariff struggles and weak demand Show Caption Hide Caption Trump threatens major tariffs for Barbies and Hot Wheels President Donald Trump this week threatened to slap a 100% tariff on products from popular toy maker Mattel. Straight Arrow News Toy seller Hasbro HAS.O has cut 3% of its global workforce in its latest cost-cutting effort amid higher U.S. tariffs on toys from China. The job cuts amount to about 150 employees. According to its fiscal 2024 annual filing, the company had roughly 4,985 employees globally. "We are aligning our structure with our long-term goals," Hasbro spokesperson Abby Hodes told Reuters. Hasbro sources about half of its toys and games sold in the U.S. from China. The toymaker has been speeding up efforts to diversify sourcing and reduce exposure to China. Swirling worries about a global trade war after U.S. President Donald Trump's tariffs on trading partners have piled pressure on the toy industry that was already struggling with tepid demand. In case you missed it: Barbie dolls and other toys may cost more due to tariffs, Mattel warns "Ultimately, tariffs translate into higher consumer prices, potential job losses as we adjust to absorb increased costs, and reduced profits for our shareholders," Hasbro's CEO Chris Cocks had said during an earnings call in April. The company also said it was reassessing logistics routes and manufacturing in the call. In December 2023, Hasbro said it would cut 900 jobs globally, nearly a year after saying it would reduce 15% of its workforce due to weaker sales. The Wall Street Journal first reported on the job cuts on Tuesday. The report added that the job cuts are part of a multi-year restructuring at Hasbro. The Play-Doh maker did not comment on the number of job cuts. In April, Hasbro beat estimates for quarterly results, as a shift towards its digital and licensed gaming businesses helped attract younger customers after it has struggled to drum up demand for its toy business for about three years now. Reporting by Ananya Mariam Rajesh in Bengaluru, additional reporting by Harshita Mary Varghese in Bengaluru; Editing by Sahal Muhammed
Vox
a day ago
- Entertainment
- Vox
What we learned the last time we put AI in a Barbie
is a senior technology correspondent at Vox and author of the User Friendly newsletter. He's spent 15 years covering the intersection of technology, culture, and politics at places like The Atlantic, Gizmodo, and Vice. The first big Christmas gift I remember getting was an animatronic bear named Teddy Ruxpin. Thanks to a cassette tape hidden in his belly, he could talk, his eyes and mouth moving in a famously creepy way. Later that winter, when I was sick with a fever, I hallucinated that the toy came alive and attacked me. I never saw Teddy again after that. These days, toys can do a lot more than tell pre-recorded stories. So-called smart toys, many of which are internet-connected, are a $20 billion business, and increasingly, they're artificially intelligent. Mattel and OpenAI announced a partnership last week to 'bring the magic of AI to age-appropriate play experiences with an emphasis on innovation, privacy, and safety.' They're planning to announce their first product later this year. It's unclear what this might entail: maybe it's Barbies that can gossip with you or a self-driving Hot Wheels or something we haven't even dreamed up yet. All of this makes me nervous as a young parent. I already knew that generative AI was invading classrooms and filling the internet with slop, but I wasn't expecting it to take over the toy aisle so soon. After all, we're already struggling to figure out how to manage our kids' relationship with the technology in their lives, from screen time to the uncanny videos made to trick YouTube's algorithm. As it seeps further into our society, a growing number of people are using AI without even realizing it. So you can't blame me for being anxious about how children might encounter the technology in unexpected ways. User Friendly A weekly dispatch to make sure tech is working for you, instead of overwhelming you. From senior technology correspondent Adam Clark Estes. Email (required) Sign Up By submitting your email, you agree to our Terms and Privacy Notice . This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. AI-powered toys are not as new as you might think. They're not even new for Mattel. A decade ago, the toy giant released Hello Barbie, an internet-connected doll that listened to kids and used AI to respond (think Siri, not ChatGPT). It was essentially the same concept as Teddy Ruxpin except with a lot of digital vulnerabilities. Naturally, security researchers took notice and hacked Hello Barbie, revealing that bad actors could steal personal information or eavesdrop on conversations children were having with the doll. Mattel discontinued the doll in 2017. Hello Barbie later made an appearance in the Barbie movie alongside other poor toy choices like Sugar Daddy Ken and Pregnant Midge. Despite this cautionary tale, companies keep trying to make talking AI toys a thing. One more recent example comes from the mind of Grimes, of all people. Inspired by the son she shares with Elon Musk, the musician teamed up with a company called Curio to create a stuffed rocket ship named Grok. The embodied chatbot is supposed to learn about whomever is playing with it and become a personalized companion. In real life, Grok is frustratingly dumb, according to Katie Arnold-Ratliff, a mom and writer who chronicled her son's experience with the toy in New York magazine last year. 'What captures the hearts and minds of young children is often what they create for themselves with the inanimate artifacts.' 'When it started remembering things about my kid, and speaking back to him, he was amazed,' Arnold-Ratliff told me this week. 'That awe very quickly dissipated once it was like, why are you talking about this completely unrelated thing.' Grok is still somewhere in their house, she said, but it has been turned off for quite some time. It turns out Arnold-Ratliff's son is more interested in inanimate objects that he can make come alive with his imagination. Sure, he'll play Mario on his Nintendo Switch for long stretches of time, but afterward, he'll draw his own worlds on paper. He'll even create digital versions of new levels on Super Mario Maker but get frustrated when the software can't keep up with his imagination. This is a miraculous paradox when it comes to kids and certain tech-powered toys. Although an adult might think that, for instance, AI could prompt kids to think about play in new ways or become an innovative new imaginary friend, kids tend to prefer imagining on their own terms. That's according to Naomi Aguiar, PhD, a researcher at Oregon State University who studies how children form relationships with AI chatbots. 'There's nothing wrong with children's imaginations. They work fine,' Aguiar said. 'What captures the hearts and minds of young children is often what they create for themselves with the inanimate artifacts.' Aguiar did concede that AI can be a powerful educational tool for kids, especially for those who don't have access to resources or who may be on the spectrum. 'If we focus on solutions to specific problems and train the models to do that, it could open up a lot of opportunities,' she told me. Putting AI in a Barbie, however, is not solving a particular problem. None of this means that I'm allergic to the concept of tech-centric toys for kids. Quite the opposite, in fact. Ahead of the Mattel-OpenAI announcement, I'd started researching toys my kid might like that incorporated some technology — enough to make them especially interesting and engaging — but stopped short of triggering dystopian nightmares. Much to my surprise, what I found was something of a mashup between completely inanimate objects and that terrifying Teddy Ruxpin. One of these toys is called a Toniebox, a screen-free audio player with little figurines called Tonies that you put atop the box to unlock content — namely songs, stories, and so forth. Licenses abound, so you can buy a Tonie that corresponds with pretty much any popular kids character, like Disney princesses or Paddington Bear. There are also so-called Creative Tonies that allow you to upload your own audio. For instance, you could ostensibly have a stand-in for a grandparent to enable story time, even if Grandma and Grandpa are not physically there. The whole experience is mediated with an app that the kid never needs to see. There's also the Yoto Player and the Yoto Mini, which are similar to the Toniebox but use cards instead of figurines and have a very low-resolution display that can show a clock or a pixelated character. Because it has that display, kids can also create custom icons to show up when they record their own content onto a card. Yoto has been beta-testing an AI-powered story generator, which is designed for parents to create custom stories for their kids. If those audio players are geared toward story time, a company called Nex makes a video game console for playtime. It's called Nex Playground, and kids use their movements to control it. This happens thanks to a camera equipped with machine-learning capabilities to recognize your movements and expressions. So imagine playing Wii Sports, but instead of throwing the Nintendo controller through your TV screen when you're trying to bowl, you make the bowling motion to play the game. Nex makes most of its games in-house, and all of the computation needed for its gameplay happens on the device itself. That means there's no data being collected or sent to the cloud. Once you download a game, you don't even have to be online to play it. 'We envision toys that can just grow in a way where they become a new way to interact with technology for kids and evolve into something that's much deeper, much more meaningful for families,' David Lee, CEO of Nex, said when I asked him about the future of toys. It will be a few more years before I have to worry about my kid's interactions with a video game console, much less an AI-powered Barbie — and certainly not Teddy Ruxpin. But she loves her Toniebox. She talks to the figurines and lines them up alongside each other, like a little posse. I have no idea what she's imagining them saying back. In a way, that's the point.
USA Today
12-06-2025
- Business
- USA Today
Mattel and OpenAI team up to bring AI-powered toys to market in 2025
Mattel and OpenAI team up to bring AI-powered toys to market in 2025 Show Caption Hide Caption Trump threatens major tariffs for Barbies and Hot Wheels President Donald Trump this week threatened to slap a 100% tariff on products from popular toy maker Mattel. Straight Arrow News Mattel MAT.O has teamed up with OpenAI to develop toys and games with artificial intelligence, and expects to launch its first AI-powered product later this year, the Barbie-maker said on Thursday. The company, which also makes Hot Wheels and Uno cards, plans to "bring the magic of AI to age-appropriate play experiences with an emphasis on innovation, privacy, and safety," it said. The move comes at a time when toy manufacturers are battling muted demand backdrop as consumers rein in spending to brace for the economic fallout of U.S. President Trump's shifting trade policy. Mattel will also incorporate OpenAI's advanced AI tools like ChatGPT Enterprise into its business operations to enhance product innovation, the company said. In case you missed it: OpenAI buys iPhone designer Jony Ive's hardware startup, names him creative head "With OpenAI, Mattel has access to an advanced set of AI capabilities alongside new tools to enable productivity, creativity, and company-wide transformation at scale," said OpenAI operating chief Brad Lightcap. Over the last year, Mattel has relied on producing films, TV shows and mobile games based on its products such as Hot Wheels and Barbie to offset a slowdown in its core toy business. Last month, Mattel withdrew its annual forecast and said it would raise prices on some products sold domestically in a bid to mitigate higher supply chain costs. Reporting by Savyata Mishra in Bengaluru; Editing by Leroy Leo
Economic Times
12-06-2025
- Entertainment
- Economic Times
Human-sized Labubu doll sells for over $150,000, enters list of most expensive dolls ever sold
A life-size Labubu doll sold for more than $150,000 at a Beijing auction, making it one of the most expensive dolls in the world. The collectible joins the ranks of luxury items like diamond-studded Barbies and rare antique bears. Here is a ranked list of the world's top-selling dolls Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads L'Oiseleur (The Bird Trainer) – $6,250,000. A 4-ft-tall automaton doll powered by spring-driven gears, dressed in embroidered Renaissance clothing. Created by Swiss artist Christian Bailly, the doll features singing birds, a sword, and a flute. Madame Alexander Eloise – $5,000,000. Handmade by Madame Alexander, this doll is adorned with 9 carats of diamonds, Swarovski crystals, Christian Dior clothes, and Katherine Baumann accessories. Barbie by Stefano Canturi – $302,500 This Barbie wears a necklace with three carats of white diamonds and a one-carat pink diamond. Sold at Christie's in New York for over $300,000. Labubu Human-Sized Doll – $150,324 The 131 cm figurine by Pop Mart set a new global record for its category at Yongle International Auction. Previously a mass-market item, its value has surged through viral celebrity endorsements and social media trends. Steiff Titanic Mourning Bear – $136,000 Manufactured to honor Titanic victims, one was auctioned for $136,000 to the Puppenhaus Museum in Switzerland. Barbie and the Diamond Castle – $94,800 Features 318 real diamonds on her dress and accessories made of diamonds and white gold. De Beers 40th Anniversary Barbie – $85,000 Dressed in an evening gown with a bikini top and 160 diamonds, designed by De Beers. Blue Ivy's Barbie – $80,000 Gifted to Blue Ivy by Beyoncé and Jay-Z, this doll is embedded with 160 diamonds and white gold jewelry. Marina Bychkova Enchanted Doll – $76,500 Realistic, hand-sculpted porcelain doll sold on eBay. Known for sensual detail and handcrafted features. Steiff Dicky Bear – $53,803 A rare collectible teddy bear from Steiff, a German toy company known for its high-end plush toys. 11. Michael Lau's Gardener Uncle – $35,000 Vinyl action figure based on a comic strip, known for urban streetwear and artistic detail. Original Barbie 1959 – $27,450 The first edition of Barbie, in mint condition, remains a favorite among vintage collectors. Original Superman Action Figure – $25,000 A prized collector's item from the 1940s, tied to the superhero's cultural impact. GI Joe Manimals Vortex – $20,000 Cancelled before release, this figure became rare and sold for $20,000 on eBay. Life-Sized Megumi Kato – $19,600 Based on an anime character, only ten units were made. Signed Bebe Mothereau – $18,500 An 1800s French doll by Alexandre Motero, noted for its rarity and wooden limbs. Barbie in Midnight Red – $17,065 A 1965 edition with a brunette twist-and-turn head and rare red dress. Pink Diamond Barbie – $15,000 Covered in rose and fuchsia diamonds, debuted at New York Fashion Week 2013. Mego Elastic Batman – $15,000 Stretch toy from 1979, discontinued due to a lawsuit, now a rare collectible. Teal Blue Farnell Teddy Bear – $11,000A pre-1920s bear in unique teal, sold at Sotheby's. A human-sized Labubu doll was sold this week for a record 1.08 million yuan ($150,324; £110,465), according to a Chinese auction house. The 131 cm (4 ft 4 in) figurine was sold at the Yongle International Auction in Beijing. The auctioneer said it was now the most expensive toy of its kind in the dolls are quirky monster characters created a decade ago by Hong Kong artist Kasing Lung , which have increased in popularity in recent years after a number of celebrity endorsements. Labubu dolls, sold by Chinese toy company Pop Mart , usually cost around 50 yuan. This week's auction was dedicated entirely to read: What is a 'Labubu' and why has the $7,000 bug-eyed Pop Mart toy fuelled so much hype Forty-eight items were put on sale with around 200 people in attendance. The auction house said it raised a total of 3.37 million figurines have sparked a global buying frenzy after frequently appearing in social media posts by Lisa from the K-pop group Blackpink. The soft toys became a viral TikTok trend after being worn by other celebrities including Rihanna and Dua Lipa. Former England football captain David Beckham also posted a photo on Instagram of a Labubu attached to his read: Can a toy make you a billionaire overnight? Meet the Chinese CEO who made $1.6 billion in a day thanks to a viral doll
Time of India
12-06-2025
- Entertainment
- Time of India
Human-sized Labubu doll sells for over $150,000, enters list of most expensive dolls ever sold
A life-size Labubu doll sold for more than $150,000 at a Beijing auction, making it one of the most expensive dolls in the world. The collectible joins the ranks of luxury items like diamond-studded Barbies and rare antique bears. Here is a ranked list of the world's top-selling dolls Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads L'Oiseleur (The Bird Trainer) – $6,250,000. A 4-ft-tall automaton doll powered by spring-driven gears, dressed in embroidered Renaissance clothing. Created by Swiss artist Christian Bailly, the doll features singing birds, a sword, and a flute. Madame Alexander Eloise – $5,000,000. Handmade by Madame Alexander, this doll is adorned with 9 carats of diamonds, Swarovski crystals, Christian Dior clothes, and Katherine Baumann accessories. Barbie by Stefano Canturi – $302,500 This Barbie wears a necklace with three carats of white diamonds and a one-carat pink diamond. Sold at Christie's in New York for over $300,000. Labubu Human-Sized Doll – $150,324 The 131 cm figurine by Pop Mart set a new global record for its category at Yongle International Auction. Previously a mass-market item, its value has surged through viral celebrity endorsements and social media trends. Steiff Titanic Mourning Bear – $136,000 Manufactured to honor Titanic victims, one was auctioned for $136,000 to the Puppenhaus Museum in Switzerland. Barbie and the Diamond Castle – $94,800 Features 318 real diamonds on her dress and accessories made of diamonds and white gold. De Beers 40th Anniversary Barbie – $85,000 Dressed in an evening gown with a bikini top and 160 diamonds, designed by De Beers. Blue Ivy's Barbie – $80,000 Gifted to Blue Ivy by Beyoncé and Jay-Z, this doll is embedded with 160 diamonds and white gold jewelry. Marina Bychkova Enchanted Doll – $76,500 Realistic, hand-sculpted porcelain doll sold on eBay. Known for sensual detail and handcrafted features. Steiff Dicky Bear – $53,803 A rare collectible teddy bear from Steiff, a German toy company known for its high-end plush toys. 11. Michael Lau's Gardener Uncle – $35,000 Vinyl action figure based on a comic strip, known for urban streetwear and artistic detail. Original Barbie 1959 – $27,450 The first edition of Barbie, in mint condition, remains a favorite among vintage collectors. Original Superman Action Figure – $25,000 A prized collector's item from the 1940s, tied to the superhero's cultural impact. GI Joe Manimals Vortex – $20,000 Cancelled before release, this figure became rare and sold for $20,000 on eBay. Life-Sized Megumi Kato – $19,600 Based on an anime character, only ten units were made. Signed Bebe Mothereau – $18,500 An 1800s French doll by Alexandre Motero, noted for its rarity and wooden limbs. Barbie in Midnight Red – $17,065 A 1965 edition with a brunette twist-and-turn head and rare red dress. Pink Diamond Barbie – $15,000 Covered in rose and fuchsia diamonds, debuted at New York Fashion Week 2013. Mego Elastic Batman – $15,000 Stretch toy from 1979, discontinued due to a lawsuit, now a rare collectible. Teal Blue Farnell Teddy Bear – $11,000A pre-1920s bear in unique teal, sold at Sotheby's. A human-sized Labubu doll was sold this week for a record 1.08 million yuan ($150,324; £110,465), according to a Chinese auction house. The 131 cm (4 ft 4 in) figurine was sold at the Yongle International Auction in Beijing. The auctioneer said it was now the most expensive toy of its kind in the dolls are quirky monster characters created a decade ago by Hong Kong artist Kasing Lung , which have increased in popularity in recent years after a number of celebrity endorsements. Labubu dolls, sold by Chinese toy company Pop Mart , usually cost around 50 yuan. This week's auction was dedicated entirely to read: What is a 'Labubu' and why has the $7,000 bug-eyed Pop Mart toy fuelled so much hype Forty-eight items were put on sale with around 200 people in attendance. The auction house said it raised a total of 3.37 million figurines have sparked a global buying frenzy after frequently appearing in social media posts by Lisa from the K-pop group Blackpink. The soft toys became a viral TikTok trend after being worn by other celebrities including Rihanna and Dua Lipa. Former England football captain David Beckham also posted a photo on Instagram of a Labubu attached to his read: Can a toy make you a billionaire overnight? Meet the Chinese CEO who made $1.6 billion in a day thanks to a viral doll
