Spin Master should need no introduction, since many of the top selling toys on the market today are produced or at least distributed by the company. Originally set up in 1994, 3 friends decided to take their $10,000 starting money and try to get a piece of the toy market share, no matter how small. The trio got off to a lucky start with their first product, the Earth Buddy. It became an instant success with a little push from the company's founders and went on to critical and commercial success â€“ a rare thing in the often unpredictable and sometimes cutthroat toy industry.
Fast forward to 2004 and the company has had its share of successes - and failures - along the way. The company had scaled up quite substantially with the release of the Sky Shark toy in 1998. The company's growth continued over the years, but in 2004 it decided to take a chance and become the North American distributer for the Mighty Beanz, a simple toy that had been doing good things in Australia while being promoted by the company Moose Enterprises.
The license was an instant success with more than $38 million dollars generated in that year alone, which led to the company having problems keeping up with the demand for the toys. The Mighty Beanz ended up being the most successful toys in Spin Master's brief history, and the simplistic toys had a legion of fans who would be faithful to the toy range for years to come, as well as younger buyers who were just maturing and getting into the range.
Now, by 2010, Spin Master have already mastered what licenses sell well when coupled with the Mighty Beanz range, with previous efforts such as the Simpsons and the Teenage Mutant Ninjas Turtles posting very respectable profits for the company. Their latest sure fire hits have just been released in the guise of the Star Wars Mighty Beanz and the Marvel Mighty Beanz. With the combination of these two massive licenses, the toy firm can be all but assured of their success over the Christmas period, with the Star Wars license in particular already paying off massively for the company.
On release of the toy series there were 60 beans in the series planned, but only 3 months later this number has risen to nearly 90 with 88 Star Wars beans named so far. With this and the original series of the Beanz going strong, it seems that the star of Spin Master toys is still ascending- rapidly.