Build-A-Bear Workshop has seen its shares rise by 35% over the past year, bringing its valuation close to $500 million. CEO Sharon Price John attributes this success to nostalgia and targeted marketing. Gen Z and millennials are increasingly purchasing plush toys for joy and self-expression, as highlighted in a Mintel report. The company leverages this trend by collaborating with popular franchises like Harry Potter and Pokémon, tapping into the growing 'kidult' market that thrives on social media acceptance of adult toy enthusiasts.
"Barbie was one of my favorite toys when I was a kid. Barbie and plush. Those were the things that I played with a lot. And so my journey, it's almost poetic. When people look at it, they think I planned it - but I didn't."
"A lot of people are taking the approach that, well, I don't care if other people think this is dumb, this brings me a little bit of happiness, a little bit of joy, so I'm going to keep doing it."
"Build-A-Bear has capitalized on this by collaborating with some millennial favorites, including Harry Potter, Pokémon, and Hello Kitty."
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