Toys hold a special place in children’s hearts. Children beg their parents and save pocket money for them. They sometimes hold onto them until adulthood.
Although there are only a few globally renowned toy companies, their presence is felt all over the world.
Some companies have sold their stocks after the founders’ death and have been operating under professional managers. Others have continued to run under the founder’s family.
Kjeld Kirk Kristiansen, former president and CEO of Lego Group. (Bloomberg)
Lego Group ― LegoLego of Denmark is one of the most recognizable toy brands, and in 2015, Brand Finance assessed its brand worth to be $4.07 trillion, the highest of the world’s top 25 toy brands.
Lego, which came from the Danish phrase “leg godt,” meaning “play well,” was founded by Ole Kirk Kristiansen in 1932. Kristiansen, a trained carpenter, made wooden toys for a living after losing his job in the Great Depression.
After his wife died, he made wooden ducks for his four children. Seeing how much they enjoyed them, he started a business making wooden duck toys made from leftover wood, eventually moving on to toy houses and furniture, then making them out of plastic, and ending up with Lego blocks of today.
The Kristiansen family continues to hold management rights. Ole Kirk Kristiansen’s grandson Kjeld Kirk Kristiansen, who had been involved in the Lego business since his childhood, such as suggesting and testing new Lego models, was president and CEO of Lego Group until 2004, and played a role in Lego Group expanding across 30 countries with more than 50 affiliate companies.
Brandstaetter Group ― PlaymobilGermany’s Brandstaetter Group, established in 1876, created Playmobil, a line of plastic doll figures.
Playmobil was made in part due to the 1973 oil crisis. Due to rising oil prices, Horst Brandstaetter, the founder’s great grandson, asked head of development Hans Beck to create a product that required less plastic than the other items the company was producing at the time.
As a result, Beck created a hollow plastic doll with a simplistic design and movable limbs. The toys were first showcased in 1974 then sold worldwide in 1975.
Playmobil is a covetable item for grown-up toy collectors as well, as Playmobil frequently introduces new lines and limited edition products.
Horst Brandstaetter himself has also become a respected public figure by holding fund-raising events for disabled children, as well as donating Playmobil pirate ships to kindergartens across Germany.
MGA Entertainment ― BratzAlthough Barbie dolls are the leading toys in fashion dolls, MGA Entertainment has come right behind them with Bratz dolls, released in 2001.
Isaac Larian, CEO of MGA Entertainment, made the Bratz dolls successful by representing everything that Barbie wasn’t. The Bratz dolls are shorter in stature than Barbie dolls, and while Barbie is predominantly white, Bratz featured Hispanic, black and Asian dolls. The dolls are also dressed in trend-conscious clothing.
Bratz is also famous for its six-year legal battle with Mattel Inc. over whether the Bratz dolls were a copy of Barbie. The federal jury took MGA’s side, further cementing the company’s position.
Larian, who owns 82 percent of MGA Entertainment’s stocks, was listed on the Forbes’ millionaire list for the first time in 2014.
Walt Disney Co.As one of the largest corporations in the world, Disney’s brand value is set at around $27.4 billion, with a market price of $142.8 billion.
Walt Disney was considered a pioneer in animation and later set up Disneyland, where his works came to life. His attention to detail and perfectionist nature ensured that Disneyland attractions and employees maintain their image of fantasy and wonder.
However, Walt Disney Co. is no longer owned by the Disney family. Walt Disney’s daughter Diane and her husband Ron Miller managed the business for a while, but in 1984 Miller stepped down as Disney’s CEO and the position went to Michael Eisner, and currently to Robert Iger.
In addition, Disney’s largest shareholder is Laurene Powell Jobs, wife of the late Steve Jobs, who received Disney stocks when Disney took over Pixar.
Disney, best known for their feature animations, has also made significant headway in the toy industry through its iconic characters as well as purchasing other franchises.
Disney purchased rights to Marvel Entertainment in 2009, and Lucasfilm in 2011, giving Disney the rights to produce Marvel and “Star Wars” characters in content such as toys, games and theme park attractions.
Disney’s content acquisition saw immediate effect. “Star Wars & Clone Wars,” an animated TV series based on the “Star Wars” movies, made $1.46 billion in related merchandise in the North American market alone in 2013. It became the best-selling content after the Disney Princesses, which earned $1.5 billion in merchandise sales in the same year.
By The Korea Herald Superrich Team (sangyj@heraldcorp.com)
Kwon Nam-keun, Hong Seung-wan, Sung Yeon-jin, Bae Ji-sook, Yoon Hyun-jong, Min Sang-seek, Kim Hyun-il, Sang Youn-joo