• Business Week Online , Monday, July 17, 2006 1:02 PM

How does a toy brand like Mattel's HotWheels--which is coming up on its 40th anniversary--remain true to its heritage, yet change with the times? Vice President of Wheels Design Gary Swisher says it only makes sense to add cost-increasing technology to a product that costs a buck if it adds the element of magic. "The biggest thing we grapple with is exciting a kid's imagination," he says. Mattel has big expansion plans for the community element of the HotWheels Web site, which now offers car games, a collector club, and the ability to decorate cars. As for the toy itself, Swisher sees the brand expanding beyond the vehicle. Role-playing is emerging, with new toys like a radar gun that lets kids be the police checking the speed of a friend's car.

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