In an interview with CNBC's Jim Cramer, Mattel CEO Ynon Kreiz said his company's goals are growing beyond the toy aisle and into capturing the value of its brands' intellectual property for ventures like film franchises.
"We are here to build film franchises," Kreiz said. "We don't say that every movie will be as successful as Barbie, but we intend to apply the same methodology, the same approach, the same capabilities."
Kreiz said the Barbie was a showcase for what Mattel can bring to the table in the future. He said the company aims to amplify its brands' cultural resonance, attract top talent to its projects and successfully market products outside of stores.
"This is about how do you take successful brands and execute an IP strategy across multiple verticals, highly-accredited business verticals that in some cases are bigger than the toy industry, all driven by big franchises," Kreiz said.
Mattel reported earnings after Wednesday's close, beating Wall Street estimates in revenue and earnings per share. Mattel also saw 19% growth in its sales of Hot Wheels toys this quarter, and Kreiz said the company sees "tremendous opportunity ahead" with the brand, mentioning the upcoming live-action Hot Wheels film produced by JJ Abrams.
Sign up now for the CNBC Investing Club to follow Jim Cramer's every move in the market.
Questions for Cramer?
Call Cramer: 1-800-743-CNBC
Want to take a deep dive into Cramer's world? Hit him up!
Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram
Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com