ToyNews Toy industry news: business, marketing, retail, wholesale and distribution
Golden Bear reported a growth in sales of 9.5% to £25.1 million in the 15-month period ending 31 March 2021. Operating profit grew to £2.3 million compared to the previous figure of £1.2 million in the calendar year 2019.
In the UK market, the company saw dynamic growth in the Bing, Hey Duggee and Smart Ball brands, while the strategy to increase international sales also bore fruit with increased sales of 33% to international distributors. This was driven by the Bing brand, which is now the number-one preschool license in Italy.
In addition to strong financial results, Golden Bear made significant moves to underpin future sales and profit growth, including:
- investment in its own IP with the launch of Curlimals and Squirty Gertie for 2022, and further new brands being developed for future years
- a number of new hires and the promotion of Becky Matthews and Rebecca Henchey to the board as UK Sales and Marketing Director and Product and Innovation Director, respectively
- investment in its sales and marketing capabilities with the creation of its innovative virtual toy fair platform and an in-house photographic studio
- a continuation of its sustainability plans with investment in solar panels and electric car charge points at the company’s premises in Telford. Further initiatives are planned going forward.
Barry Hughes, Managing Director says: “Everyone at Golden Bear is rightly proud of the company’s performance in 2020/21 and a massive thanks must go to all our staff and retail and license partners who delivered great results despite all the challenges. We continue to trade strongly in 2021/22 and look forward to sharing our fantastic new portfolio of products at London Toy Fair later this month.”
