Mattel CEO contradicts Fox News' narrative on holiday supply chain disruptions
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From the November 30, 2021 edition of Fox News' America Reports With John Roberts & Sandra Smith
SANDRA SMITH (FOX NEWS ANCHOR): President Biden meeting with retail business leaders yesterday to discuss the ongoing supply chain crisis. The president pledging to the executives in the room that he would do everything possible to untangle the supply chain and keep the store shelves stocked for the holidays. So, did he assure those business leaders walking away from it? Let's bring in the CEO for Mattel, Ynon Kreiz who attended yesterday's meeting at the White House. Sir, great to have you here today. We have a lot of questions. We want to know about the hottest toys, but mostly, we want to know what our holiday shopping season is going to look like. Did the president give you any assurances that he's got this when it comes to the supply chain crisis?
YNON KREIZ (MATTEL CEO): Yes, hi, Sandra. I was very encouraged by President Biden's commitment to support the private sector in mitigating supply chain disruptions including, in particular, port congestion. Mattel appreciates the administration's leadership in helping to focus attention and resources on this important area. We are grateful for the invitation to the White House to share information about -- with the administration -- about Mattel's perspective on the supply chain and the toy industry's preparation toward the holiday season.
SMITH: Sir, can I just dig into something there? With the limited time we have, what specifics did the president offer you and your company and other business leaders that they are implementing decisions that will solve this crisis?
KREIZ: The main focus in on relieving and releasing port congestion and putting more focus, more emphasis on all of the constituents to make sure that we pool our resources together to mitigate that disruption, and we are seeing improvement. We are seeing ports be more open and a better flow of goods and products into the country.
SMITH: Because it's been a rough ride. It's been tough. We have had other toy CEOs on as well. Some big, some small who have had a really hard time getting those toys to their store shelves. What has been like for your company trying to get things just right for the holiday?
KREIZ: Well broadly speaking, the industry has faced disruption, but in the U.S., the industry is heading towards a second record year. Following 60% growth last year and 70% growth year to date so far by October. At Mattel, we do expect to have plenty of toys for children of all ages this holiday season. We work very closely with our retail partners to make sure that we have the right product in the right quantities at the right time on shelves to satisfy as many holiday consumers as possible.
SMITH: Okay, so it sounds like you have a pretty optimistic view on what's going to happen this holiday shopping season. As far as those that rushed out to buy early because so many said it was necessary to get what you want. You know, there was warnings that your kids favorite toy might not be available later on. Do you expect the strong sales to continue all the way to Christmas day?
KRIEZ: Yeah, we are seeing incredible demand. In fact, our product is resonating at levels we have not seen in years. We are working through supply chain challenges. We are not sure we will be able to meet all of the demand, but we are doing what we can to make sure that we have as much product as possible on shelves ready for consumers.