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Pley defends its position in the toy market - ToyNews

Pley defends its position in the toy market

Co-founder Elina Furman believes the Netflix-like platform is "adding immense value to the toy industry."
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Pley, the toy lending scheme dubbed 'Netflix for LEGO', believes it is aiding the toy industry by "allowing families to try new toys they would not otherwise know about."

The firm's statement follows concerns from a corner of the industry that toy sharing or rental platforms will prove detrimental to the market by cutting into sales.

The company however, insists that alongside "having the support of the majority of the market," it is actually "adding immense value to the toy industry," and "increasing the size of the market."

Pley co-founder, Elina Furman, told ToyNews: "When it comes to the sharing economy, there is always a fear that the new sharing or rental platforms will cut into sales.

"However, we see ourselves as a significant participant in the toy industry since we are essentially a try it before you buy platform that will allow parent to test their child's reactions to toys before investing in expensive toys.

"We are seeing a big toy renaissance right now, with toys using robotics, circuits, etc. and it's great to be able to expose families to these new offerings."

Consumer reaction has so far been positive to the Pley initiative that earlier this year received millions of dollars in backing to help the firm in its endeavor to expand internationally, including to the UK later this year.

The firm also reports it is now in discussions to expand its product offering with additional toy companies, including GoldieBlox, Playmobil and Cubelets.

"We have seen time and time again that larger companies are embracing the sharing model, and there is strong synergy between established brands and the new sharing platforms," Furman continued.

"The toy market has been very supportive, it sees that we are here to make their lives easier and as augmenting sales rather than cutting into them. We are in talks with several companies right now about adding more toys to our platform.

"Our goal is to work with companies like LittleBits, Goldie Blox, Playmobil, Cubelets and other construction based toys that will enhance kids' imaginations and creativity," she concluded.

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