Demonstrating that Spin Master has not forgotten its "grass-roots" past, they hit it big again in the fall of 2003 with the collectible sensation Mighty Beanz. Utilizing the same philosophy and marketing techniques from the company's Devil Sticks days, the product was introduced to children across North America and the Beanz have literally been flying off the shelves ever since.
Despite the toy industry facing a difficult environment over the past several years, Spin Master once again proved that they have a knack for picking holiday hits. In 2004, both Aquadoodle (a mat that lets kids draw on with water) and Bella Dancerella (a home ballet studio for young girls) were runaway hits, selling out at retailers throughout North America. Spin Master predicts this upcoming holiday season to be no different with a product line including some holiday must haves such as the Air Hogs Zero Gravity, Black Belts and Bella Pop Stars, to name a few.
As toy sales stagnate manufactures are no longer putting all of their efforts into toys. Today, Spin Master, considered to be the pioneer in this category, (having begun in 2003), has developed a complete line of children's furnishings under the brand marshmallow. This line includes pillows, canopies, headboards, lamps, children's furniture, ready beds and storage units. Spin Master should not be considered a toy company, rather a company focused on lifestyle and children's entertainment.
Now a decade into the industry, Spin Master has expanded from its Toronto head office to include two international offices in Hong Kong and France, as well as show rooms in New York and Arkansas. The company's team of skilled, passionate employees has grown to more than 200, and the impressive collection of awards and accolades continues to grow, including citations as one of the Top 40 Companies under 40 Years Old (1999), Ernst & Young Entrepreneurs of the Year (1999), #10 on Profit Magazines? 100 Fastest Growing Private Companies, one of Canada's 50 Best Managed Private Companies (2001-2004), and the winner of several major toy awards including the 2002 TOTY (Toy of the Year) for Catch-A-Bubble (Outdoor Toy of the Year), 2003 TOTY for Bounce 'Round (Outdoor Toy of the Year) and Regenerator (Vehicle of the Year), 2004 TOTY for both Bella Dancerella Home Ballet Studio (Girl Toy of the Year) and Aquadoodle (Activity Toy of the Year) .
The future is eagerly embraced by Spin Master, and the company is moving ahead with great confidence. They have recently implemented a new management strategy, hiring a team of experienced industry professionals at key senior positions. 2005's line of toys is ready, boasting an unprecedented number of products catering to all ages and play patterns, with sales expected to surpass all previous records. Spin Master has successfully transformed itself from a small toy enterprise into an all-encompassing children's entertainment company, as evident by the company's entrance into the children's lifestyle category. However, the spirit in which the company was founded has not changed; despite its increasing size, Spin Master remains a youthful, hip, energetic organization, willing to take risks, eager to innovate, and always looking to pursue new and exciting ideas. |