OPPapers.com

Mattel

The Economy

Introduction

Mattel originally started in 1945 out of garage in Southern California. It was founded by Ruth and Elliot Handler, and Harold “Matt” Mattson. The youngest of ten children of Polish immigrants, Ruth was a secretary for Paramount Pictures in Los Angeles when she married Elliot Handler, an industrial engineer. Handler started out designing light fixtures but soon began making furniture and selling it out of his garage. The business attracted four partners and quickly rose to become a $2 million enterprise making giftware and costume jewelry. By 1945 Elliot Handler grew restless and wanted a new business approach to remain competitive in the fast-changing postwar world. Handler's plans led to a dispute with his partners and he sold his interest in the company at a loss. Meanwhile, also in 1945, Ruth hooked up with an old friend, Harold "Matt" Matson, and they started Mattel Creations, with Elliot designing products. Due to illness, Matson was forced to sell out. The name Mattel was formed by combining Matson's last name with Handler's first name. The company incorporated in the state of California in 1948 (Mattel).

Where They Do Business

Mattel is responsible for putting smiles on many boys and girls faces. It is very impressive that owners that started this small business out of their garage has the ambition and eagerness to make Mattel what it is today with worldwide recognition. According to its website (www.mattel.com) Mattel is the world's largest toy company. The company designs, manufactures, markets, and distributes a wide variety of toy products in 150 countries. They have company locations in North America, Central and South America, Europe, and Asia Pacific. The company's toys are produced in company-owned manufacturing facilities in China, Indonesia, Malaysia, Mexico, and Thailand, as well as through independent contractors located in the United States, Europe, Mexico, the Far East, and Australia (Mattel)....