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Barbie Packs Her Bags as Mattel Closes Shanghai Dream House

Barbie moved out of her Shanghai dream house today after Mattel Inc., the world’s biggest toymaker, closed the only store in China dedicated to its bestselling doll.

Mattel didn’t cite a reason for shutting the six-story Barbie Shanghai, though it had lowered the outlet’s sales targets by at least 30 percent since the March 2009 opening. The company will have a new “brand strategy” for Barbie and expand operations across China this year, it said in an e-mailed statement.