The 1959 born Barbie Millicent Roberts, the 11.5-inch plastic sensation reflected the rise of the modern woman in society, however, 50-years down the line, selling the iconic dolls in the midst of worldwide economic woes poses a challenge for Mattel.

Turning 50 this year has done nothing to detract from Barbie's charm, as the classic doll continued to turn heads at New York's semi-annual Fashion week, with models styled to look like Mattel Inc.'s (MAT. N) fashion icon and dressed in designer outfits, sashayed down the catwalk, in what is part of a year long celebration of Barbie's 50th birthday.

Crowds thronged the eagerly awaited show, organised by the world's largest toy maker, in a bid to boost flagging sales and make Barbie fashionable again, an attempt to revitalize its core doll line among older girls, who seem to have dumped Barbie for edgier, hipper dolls (MGA Entertainment's Bratz range) with higher hemlines, sexy heels and heavy makeup, including electronic toys and video games.

At the show, as pink curtains parted to show video images of Barbie over the years, a model dressed in a black and white bathing suit, very reminiscent of the first generation Barbie, hit the runway, followed by models wearing dresses designed by the fashion world's Top 50 designers, including Badgley Mischka, Vera Wang, Calvin Klein and Tommy Hilfilger.

Though pink was the dominant theme at the show, designs portraying Barbie's past, present and future looks in black, red and pink, included styles like long blond ponytails and futuristic hairstyles, with pink peep-toe shoes by designer Christian Louboutin. And, keeping in mind it was Valentine's Day, Barbie's boyfriend, Ken strutted down the runway in a white shirt that read: 'Everyone needs a Ken.'

Hilfilger got it right when he said: 'Barbie is the quintessential American icon. She represents a woman's first experience with style, transcending generations and cultures; she holds a special place in the fashion world and is an inspiration to many designers.'

Other events planned for the year include the March opening of the brand's first flagship store in Shanghai, a Barbie exhibition for the Parisians, and in July, a four-day National Barbie Doll Collector's Convention in Washington, D. C.

Though, the global economic crisis is to blame for decreased Barbie doll sales, targeting the 3 - 6-year old group is also to blame. Bratz dolls featuring an edgier, more multi-cultural look, including in-your-face attitude are Barbie's main competitor. Arriving on the scene 7-years ago, Bratz dolls today pop starlet look-alikes, with pouty, painted lips and mini-skirts have grown in popularity among youngsters and tweens. In competition with Barbie are also Hannah Montana dolls, who owe their popularity to the Disney Channel series of the same name, starring Miley Cyrus.

Barbie has lost none of her appeal, but it is only the younger children who find her appealing. Lucky for her though, with history on her side, she has an edge over competition as nostalgic adults collect Barbie dolls as collector items, with some looking for specific kinds of Barbies they played with as children. She also hold international appeal, as a group of Chinese teenagers, clustered round a display of Barbie collectibles claimed, as children they had all played with blond-haired, blue-eyed Barbie dolls.