Isaac Larian, founder and CEO of MGA Entertainment, talks about community support and the company’s new brands in the Toy Book’s annual State of the Industry Q&A.
The Toy Book: In what ways did you feel supported by your community, government, or toy industry groups throughout 2021?
Isaac Larian: MGA is a global company and we serve the global community. I feel very honored that families across the world supported MGA brands again last year. Parents, grandparents, gifters, and collectors all confirmed through their purchases that they love our products. My favorite fans also let us know that they love us: MGA won nine out of 10 Loved by Children Awards this year and swept the first-ever The Doll Circle awards with 10 wins. MGA has something for everyone!
It was also a great year of partnership and recognition by toy industry groups for our brands and products. Even when we forgot to submit for the Toy of the Year Awards, we were still nominated for Doll of the Year with Rainbow High Winter Collection. Despite the pandemic and the supply chain challenges, MGA overall still had a great year, and we have to thank everybody who contributed to our success.
TB: MGA Entertainment is entering new markets and categories, such as L.O.L. Surprise! Trading Cards and VIRO electric vehicles. How do these contribute to your company’s overall growth strategy?
IL: Growing the business means giving our fans new and different ways to play and immerse themselves in our brands, largely through innovation in brands and products. So, we consistently introduce newness into our business to drive growth. We also enter new categories to drive MGA products into new aisles at retail.
In the case of VIRO motors, we do both. We give fans a new way to play through innovative product solutions and we get positioned in a new aisle. For VIRO, there is no doubt that electric vehicles are the inevitable future of transportation. The power and speed of VIRO motors, as well as the efficiency and convenience of charging at a station, are unmatched. At only $500 retail, families will look forward to connecting with their children by gifting a vehicle that both embraces the now and simultaneously appeals to the timeless need for speed. The L.O.L. Surprise! Trading Cards and accompanying NFTs are other great examples of how MGA has expanded our globally recognized brands to reach additional audiences and introduce new imaginative ways to play while doing what we do best: Keeping our fans happy!
This article was originally published in the February 2022 edition of the Toy Book. Click here to read the full issue!
