Industry leaders, retailers, and manufacturers weigh in on toy trends, changes, and more in The Toy Book’s annual State of the Industry Q&A.
BENOIT GADBOIS, Global President and COO, Spin Master
Spin Master made several acquisitions in the past two years, including GUND in 2018. Do you have plans for further acquisitions in the future?
One of Spin Master’s key growth strategies is to leverage our global platform through strategic acquisitions. We have an excellent track record of acquiring and integrating companies into our business, with close to 20 acquisitions to date, including Meccano, Cardinal, Swimways, and most recently, GUND.
Spin Master continues to have a strong balance sheet, which provides our company with the financial flexibility and capacity to make strategic acquisitions both for the near and mid-term future. We’re always evaluating opportunities and we love when companies and potential partners contact us to brainstorm about the possibilities of working together.
How does Spin Master come up with new and innovative takes on existing lines, such as Hatchimals and Paw Patrol, to keep them fresh and exciting for consumers?
Innovation is part of Spin Master’s DNA. One of our key growth strategies is to develop evergreen global entertainment properties, such as Hatchimals, that give us the ability to produce, develop, and monetize through product sales and licensing. Storytelling across multiple platforms is a core foundation of growth for these properties, seamlessly integrating toys and entertainment. We base our innovative product development decisions for toys, such as Hatchimals and Paw Patrol, on the stories we will eventually tell in episodic content. By doing so, we can create and introduce new characters, vehicles, worlds, and more, further expanding play opportunities for kids. And, we can bring them to life through content on many different mediums, from an app to YouTube.
Our internal advanced concepts team and network of toy inventors and designers are constantly in search of new and innovative ideas that push the boundaries of creativity and fun. We never stop searching for new elements that can capture the hearts and minds of kids.