07/25/2003When Mattel acquired Matchbox a
few years ago, most collectors expressed misgivings. How could one
company run two diecast lines that were, essentially competitors? We
heard many assurances that both Hot Wheels and Matchbox had a long
future ahead of them, although of course, there would be some
differentiation between the two lines. Hot Wheels would focus on speed
and power while Matchbox would feature playability. Well this may be
fine for the six-year-old market segment, but for collectors, the jury
is back and the verdict is in. This marriage isn't working. It's time
for a separation.
Every Matchbox collector I've ever talked to has told me he was
drawn to Matchbox for the realistic castings. Having spent the better
part of the last year looking for old Superfasts, I can well
understand this. But Matchbox never quite recovered from the
introduction of Hot Wheels. And the history of Matchbox from 1968 on
is that of how the company tried to counter and compete with the
behemoth from southern California. The brand was passed from parent
company to parent company until it was finally absorbed by Mattel.
It wasn't long before Matchbox collectors realized something was
wrong with the brand that Lesney built. Older castings started being
phased out. A new term, "Matchboxness", was being bandied about by
corporate execs. What Matchboxness meant was, apparently not the
simplicity and realism of the past, but some vague idea of playable
ness regardless of what the casting actually looked like. Automobiles
were replaced with planes boats and trucks, and realistic castings
were replaced by generic vehicles that didn't look like anything
actually on the road. Collectors muttered about this dumbing down of
Matchbox, and wondered just how the resources at Mattel were being
shared.
And indeed it did seem that the favorite son was growing fat
while the stepchild withered. Hot Wheels got a new collector's web
site with lots of bells and whistles. The Matchbox site is updated
maybe twice a year, whether it needs it or not. The creative team
behind Hot Wheels is in regular contact with collectors. The designers
at Matchbox are pretty much anonymous. More importantly, Hot Wheels
pays to license numerous new realistic castings each year. The use of
real vehicles bearing the Matchbox name is dwindling each year.
And it's not that Matchbox can't turn out good realistic
castings any more. Their Ford Focus is far superior to the Hot Wheels
mainline vehicle. They have a casting of the Lotus Elise that is
currently only available in the States in a 5-pack. And their Opel
Speedster is easily my favorite new Matchbox casting for this year.
But more and more, it seems Matchbox' most realistic castings are
reserved for premiere and upscale editions. Granted, many of these are
excellent. Matchbox currently has an MGA roadster in it's Coca Cola
cars that looks much better than the Johnny Lightning British Invasion
car. But many of Matchbox' premieres are now so overpriced as to kill
interest in them. When I started collecting, Matchbox World Class
models cost $2.49. Now most of the Matchbox premieres I purchase these
days are on clearance for about that price at KB Toys. I have seen
them stat as high as eight dollars. I haven't seen many sell for that.
Which brings us to the conclusion hat Matchbox has lost its way
and is not likely to find it again under Mattel. What Matchbox needs
is someone with a feel for the tradition of this grand old brand and a
vision for what it could be. If Mattel is not going to support the
brand at least as much as the Hot Wheels line then they should find a
buyer who will. There is a precedent for this. Mattel has already done
the same with Corgi, and the Corgi brand is showing excellent signs of
rejuvenation. A new owner will give Matchbox a fresh start and a new
hope for achieving diecast excellence.
But what's in it for Mattel? It is generally assumed that Mattel
wanted Matchbox to eliminate competition. But a long term business
doesn't want to eliminate its competitors, it wants to out-compete
them. It wants to be pushed to do its best and keep looking for ways
to become better. Competition improves the breed, and this is true in
racing and in business. Competition rescued Hot Wheels from sinking
into mediocrity, and competition will keep pushing Mattel to keep
making Hot Wheels better. And the more competitors, the better every
brand has to be. Mattel gains little from having Matchbox in its
stable. It gains much more having Matchbox breathing down its neck.
Matchbox is one of the oldest surviving diecast brands still on
the market. It has a long history of innovation and design. Matchbox
has traditionally combined realism with playability to make some
really cool little toy cars. Matchbox has a loyal following that has
stuck with the brand through bad times and good. They deserve a brand
that's as good as it can be. Under a new owner, Matchbox can be
Matchbox again.