Price rises on the way says Mattel boss

Mattel?s CEO says higher costs could force the firm to increase its prices.
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Bob Eckert is concerned about the rising commodity and labour costs in Asia.

He said: “The Chinese currency is appreciating, so I think it will be a challenging year for costs this year. As a result we will work very hard on reducing our controllable costs, not related to commodity costs, and we will have to raise our prices as well.”

But Eckert (pictured) is still “optimistic” about the year ahead, despite the economy slowing down, and he isn’t expecting a repeat of last year’s recalls.

“I am very optimistic about 2008 for Mattel and the toy industry on the whole. Firstly, I think last year's recall news is behind us and the industry in general… I just have a real sense of optimism about 2008.

“We are always mindful of what is going on in economies, but if you look at history, the toy industry has always held up very well in tough economic times and I think this will remain the case.”

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