Last Updated on January 3, 2020 by Danielle
Spin Master achieves $440.9 million sales compared to $338.4 million in 2016, representing a 30 percent increase in revenue year over year.
According to reports, Spin Master delivered ‘excellent fourth quarter performance’ in 2017. For the fourth quarter of 2017, Spin Master generated revenue of $440.9 million. In comparison, in 2016, over the same duration, it delivered $338.4 million in revenue. This represents a sizable 30 percent increase in results year over year.
So what contributed to Spin Master’s success? The primary drivers for Spin Master were Hatchimals, Luvabella, and Cardinal games. Together they contributed to $483.9 million of gross product sales, roughly a 29 percent increase. These solid sales numbers help to offset sales declines for the Air Hogs and Zoomer product lines.
In terms of gross product sales, they grew by 17 percent in North America, 34 percent in Europe, and 94 percent in the remainder of the world. Worldwide gross aggregate product sales accounted for roughly 41 percent of total gross product sales, an increase of nearly 35 percent compared to 2016.
Anton Rabie, Spin Master’s Chairman and co-CEO, stated: “Our excellent performance in the fourth quarter capped off another year of significant revenue and profitability growth for Spin Master.”
“Our Spin Master team performed exceptionally well globally and our investments in talent are driving positive results. We continue to be active on the acquisition front. In Q4 we acquired the Perplexus brand, an innovative game we have distributed since 2013.”
On March 5th, Spin Master acquired Gund, a 120-year-old plush toy business, best known for its iconic teddy bears. They are leaders and pioneers with a reputation for delivering high quality and innovative design. In response to the Gund acquisition, Rabie commented, “We are excited about our expansion into the infant toy and specialty gift categories.”
Ben Gadbois, Spin Master’s President and COO, said, “We are very pleased with our execution in 2017 against Spin Master’s four growth strategies.”
“Anchored by our global, collaborative innovation capabilities and the discipline of our 36-month brand innovation pipeline, we delivered breakthrough, category-defining products with global appeal, such as Hatchimals Surprise, Soggy Doggy, and Luvabella.”
“We are seeing the results of our efforts to increase sales in existing and new markets. International sales continued to grow and our new direct markets in Australia, China and Central and Eastern Europe, exceeded our expectations.”
Spin Master continues to expand its entertainment division and is well-positioned to expand its core franchises, like PAW Patrol and Rusty Rivets, and bring to market fresh new content from Abby Hatcher: Fuzzly Catcher as well as relaunch the Bakugan franchise.
Source: Toy News
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