Mattel CEO states that his company focuses on 'cultural experiences'.

• In a Wednesday interview with CNBC's Jim Cramer, Mattel CEO Ynon Kreiz discussed the company's growth strategy.
• Kreiz emphasized the importance of embracing culture, creating cultural moments, and touchpoints to ensure that timeless brands become relevant and timely.

In a Wednesday interview with CNBC's Jim Cramer, CEO Ynon Kreiz revealed the company's growth strategy, which involves engaging consumers through culture.

Kreiz emphasized the importance of embracing culture and creating cultural touchpoints to make timeless brands timely. He stated that the company aims to continue creating special connections with its customers through these moments.

Although sales increased by 16% to $1.62 billion, analysts at LSEG, formerly Refinitiv, predicted $1.66 billion, resulting in a shortfall in the fourth quarter earnings.

Mattel has garnered significant attention following the massive success of "Barbie," its collaboration with. As a result, Mattel has revealed plans to expand its cinematic universe, with multiple films in development about its toys, including Barney and Hot Wheels.

Mattel's toy business turnaround is attributed to its efforts to become more relevant and connected to customers, as exemplified by its Super Bowl-themed toys, which include Barbie dolls. Kreiz emphasized this point by stating that Mattel views its consumers as fans who foster emotional connections with brands.

Our toy strategy has been executed strongly and consistently, and we continue to improve our IP, entertainment, and 'Barbie' movie strategies. We have also been successful in television, digital, consumer products, publishing, and location-based entertainment, and you can expect more of this execution to occur this year.

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