The Block Toys Manufacturing Makes Big Splash In Global Toy Industry
How often do you hear about a local toy company topping production and revenue charts on a global scale?
That's what Craft Toys did for 3 consecutive years, leading to their most important year ever this year.
When Shelley Craft & her college pal Jerry Sheckland started their local toy distribution business, The Block Toys Manufacturing Co (BTM for short) in 2012 they had no idea they'd be getting acquired by a global manufacturing conglomerate in 2018 and putting up the retirement sign.
It started when they seized the golden opportunity of adding to the digital front front to their business in 2014 in addition to their multi-city brick-and-mortar stores spread throughout several cities in the 2 major continents. The pressure was on from large online distributors such as Amazon, Alibaba, and Ebay. Being a natural marketing strategist, Jerry suggested Shelly & he move their inventory to Amazon to being selling via Fullfillment-By-Amazon (FBA) since a large chunk of online retail was coming the wholesale giant.
In 2015, they began to see the impact of their move. Sales not only improved month-over-month by 15% average, but they were able to reach global markets that were no accessible from their smaller warehouse.
In 2016 and 2017, Shelley Craft took the opportunity to build their own online presence by partnering with more international partners such as Alibaba which allowed them to propel their revenue into unprecedented numbers, which poised them for acquisition. And that's exactly what happened.
In Q3 of 2017 Shelley Craft & Jerry Sheckland were approached by a major distribution company in Asia that offered to absorb their company and offer them a royalty for product sales from The Block Manufacturing Co (BTM). After months of deliberation, the acquisition was confirmed in Q4.
Shelley & Jerry held a conference with their team that became very emotional as Craft & Sheckland had been working with these people since the inception of The Block Toys. Shelley Craft made sure to take care of her employees after she left The Block- requiring that the acquiring company to agree to a clause that the employees of The Block Toys to have positions in the new company after The Block's production is cancelled and Shelley Craft leaves the company to retire following the acquisition.