What a mind-blowing idea it is to create a fashion fiesta doll like Barbie. I used to like everything about her; dresses, lip color, heels, I mean everything she wears is so perfect. Even her eyebrows and hairs are neatly done.
Ruth Handler, Barbie’s owner, noticed that children, especially her daughter Barbara, like giving mature and fashionable roles to the dolls. In 1950s, the market did not offer fashionable dolls and that gap was identified by the Ruth Handler.
She was excited about the idea and discussed it with her husband and directors of Mattel Toy Company, but the Directors declined the wonderful idea. She decided to work out this idea on her own and as destined, she met her dream doll, Bild Lilli, in a trip to Europe. Ruth planned make over of the doll launched Barbie and named after her daughter, Barbara.
Barbie earned ₤ 1 billion in her first debut; the Mattel’s board was surprised and decided to acquire Bild Lilli doll.
Barbie’s net worth
A lot of criticism was faced by the distinct looks of Barbie doll, but surprisingly the doll was a constant hit. The Mattle Company opted for protection of Intellectual property and registered the name Barbie as a trademark and Character Barbie as a Copyright. Protecting IPR was a smart choice as successful ideas are stolen by the competitors. Now, Ruth was free to fly and she launched several versions of Barbie, worked with famous brands and celebrities. I’ve discussed below just a part of Barbie’s success below:
- Vera Wang, one of the top brands for wedding dresses, designed Barbie’s wedding dress for a fashion show
- Burberry & Bulgari designed Barbie’s wardrobe
- Fashion jewellery designed by Lauren Baumer
- Times Square magazine renamed one of its section as Barbie Boulevard
People think that IP is only restricted to the law, but this is where they are wrong. Even a fashion doll like Barbie is an Intellectual property. Similarly,car, pen, pencil, engine or anything around you is someone’s idea and Intellectual property is nothing without these ‘Ideas’. Now, time has come when people should break the delusion and realise the importance of IPR, so that just like Barbie they can also earn billions with their Intellectual property.