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|□||About Spin Master
Spin Master was founded by Anton Rabie and Ronnen Harary, in 1994, began as The Earth Buddy Partnership. The company's name was changed to Spin Master in 1995. Spin Master develops, manufactures, markets and distributes its own toy products around the world. Diligent Product Development and Powerhouse Marketing Strategies have created a worldwide reputation for Great Products. Highly recognized for its Creative Vision, Spin Master is one of the fastest growing toy companies in the world. The company has several well-known brands including AIR HOGS and METAL MAXX.
|□||The Story of Spin Master
The roots of Spin Master Ltd. date back to 1994, when three university friends, armed with $10,000 set out to build a business. Ronnen Harary, Anton Rabie and Ben Varadi's first product was called The Earth Buddy, a small, pantyhose-covered head filled with grass seeds that sprouted hair when watered. The Earth Buddy was an unexpected hit, a Pet Rock-like phenomenon, providing the partners with a firm foundation to sprout their next idea.
During the next few years, the trio launched several novelty type products such as Devil Sticks, Grow Things, and Chatter Rings. Although these items proved to be successful, they were no way near the company's next big thing. What Spin Master needed was an item that would allow the company to put their mark on the toy industry.
In 1996, Spin Master found such an item, when two British inventors introduced the concept of an air-pressured airplane to the partners. In theory, the idea was ingenious - a chamber of compressed air pumped into the plane by the child would power a miniature one piston engine - but could it work on more than paper? After much time, effort and faith, the Air Hogs brand was born, with the release of the "Sky Shark" in 1998. The toy was both a popular and critical success, earning a prestigious spot on Popular Science's annual list of the Top 100 Innovations in Science & Technology.
Over the past ten years, Spin Master has become an internationally recognized company, developing and distributing toys around the globe. The company's success has stemmed largely from its willingness to take risks and market innovative, original products that are - above all - fun. Perhaps nothing illustrates this philosophy better than Air Hogs.
With the success of Air Hogs firmly in place, Spin Master continued to blend in-house creativity with innovative marketing partnerships. Refusing to rest on their laurels, Spin Master became adept at modernizing former classics. Partnering with K&B Innovations - the company responsible for the legendary Shrinky Dinks - Spin Master introduced a self-contained "shrinking" unit, eliminating the need for the kitchen oven, and refueling toy-buyers' imaginations to the Shrinky Dinks brand. The toy launched at the New York Toy Fair in 2001, garnering rave reviews, thirteen toy awards, and a cover story in the Wall Street Journal. To date, the company has sold over 1.2 million units.
The company has witnessed incredible growth over the past few years, spurned by the development of breakthrough products like Catch-A-Bubble - a bubble toy that allows children to catch and stack bubbles - to outdoor toys like the Bounce 'Round line that allows children to bring the carnival fun to their very own backyard. Spin Master is currently the 2nd largest player in the category of food activity toys. Securing some of the top licenses including Hershey's, McDonald's and ICEE, has helped create a line boasting the ICEE Maker, McDonald's McFlurry Maker, Hershey's Chocolate Magic, Hershey's S'mores Maker and a 7-11 Slurpee Maker.
Licensing some of the world's leading brands continues to be an integral part of Spin Master's strategy to drive growth. Spin Master has teamed up with Disney, HIT Entertainment (The Wiggles), McDonald's, Marvel, Hershey, Nickelodeon, and others to delivering products ranging from Sponge Bob Square Pants-inspired Bounce ?Rounds, to the McDonald's McFlurry Maker to licensed furniture products.
|□||The Story of Spin Master - part 2
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.
official website for Spin Master
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