When it comes to the world of toys, there is no denying that Mattel, Inc. is one of the biggest players in the game. Founded in 1945 in California, this Fortune 500 company has become synonymous with toys and has the highest market capital of any toy company. Ranked #1 on our list, Mattel is a leader in the toy industry and has been for decades.The LEGO Group is another major player in the toy industry.
Founded in 1932 by Ole Kirk Kristiansen in a Danish carpentry workshop, LEGO started out making wooden furniture and houses. However, during the Great Depression, Kristiansen had to pivot and make smaller products instead. In 1934, he held a competition among his staff to name his company, offering a bottle of artisanal wine as a prize. He was considering two names himself: “Legio” (to represent a “legion of toys”) and “Lego”, which was a made-up contraction of the Danish phrase leg godt, which means “play well”.
The name stuck and LEGO has been a household name ever since.In recent years, LEGO has been outperforming Mattel as the most profitable toy company in the world. Last year, LEGO took the number two spot from Hasbro, which produces everything from Nerf guns to My Little Pony, Transformers, Jenga, Clue and Monopoly. After another six months of rapid growth, LEGO is now officially the largest toy company on the planet.The success of LEGO can be attributed to its incredible toy sets that help children develop new skills in areas such as logic and observation ability. The company's toys also have an appeal to both boys and girls alike.
Even LEGO Friends, a girl-centric toy line that was widely criticized for promoting stereotypes, has been a smashing success with sales to girls tripling after its launch.TLEgo isn't the only toy manufacturer that has seen success in recent years. Larian Studios is another example of a successful toy company that has managed to translate the digital reality of today's children into an analog toy. The mastermind behind Bratz was a toy designer who had previously worked with Barbies at Mattel and hoped to create his own line of dolls one day. This dream became reality when his path crossed with a toy manufacturer who had invented a talking doll but didn't want to go to a major toy manufacturer.Creating a toy brand on YouTube and promoting it through influencers is also becoming increasingly popular.
This strategy allows companies to reach their target audience more effectively and efficiently than ever before.European markets are also producing technologically advanced toys that are becoming better versions of traditional toys. Thanks to their efforts, leading toy companies are able to deliver products around the world.It's clear that Mattel and LEGO are two of the biggest names in the toy industry today. However, there are many other companies out there that are making waves in this sector as well. With so many options available, it's no wonder why toys remain one of the most popular items for children around the world.