| Type | Public (NYSE: HAS) |
|---|---|
| Founded | 1923[1] |
| Headquarters | Pawtucket, Rhode Island, USA |
| Key people | Brian Goldner (chief executive officer) |
| Industry | Toys and games |
| Revenue | ▲3.838 Billion USD (2007)[2] |
| Net income | ▲333 Million USD (2007)[2] |
| Employees | 5,900 (2005) |
| Website | www.hasbro.com |
Hasbro (NYSE: HAS) is an American toy company. It is one of the largest toy makers in the world, second only to the toy giant Mattel. Hasbro is also the publisher of the world's most popular board game, Monopoly. The corporate headquarters is located in Pawtucket, Rhode Island, United States.
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In 1923,[1] two brothers—Henry and Helal Hassenfeld—founded Hassenfeld Brothers, a textile remnant company. Over the next two decades, the company expanded to produce pencil boxes and school supplies. In the 1940s, Hassenfeld Brothers produced doctor and nurse kits, its first toys. Hassenfeld Brothers' first toy hit was Mr. Potato Head, which the company purchased from inventor George Lerner in 1952. The toy was a smash success. In 1964, Hassenfeld Brothers produced the G.I. Joe toy, which they termed an "action figure" in order to market the toy to boys who wouldn't want to play with "dolls". The company shortened its name to Hasbro Industries in 1968. In 1983, Hasbro produced another successful toy franchise, My Little Pony. The company acquired the Milton Bradley Company in 1984, bringing The Game of Life, Candy Land, Twister, Chutes and Ladders and Yahtzee into the Hasbro fold. Hasbro continued its success in 1984 with the release of the first Transformers toys. In 1986, Hasbro acquired Playskool, which purchased Mr. Potato Head from Hasbro that year.
Hasbro, Inc. is now the parent company of several subsidiaries. The toys and games produced by these companies retain their brand identity, which is an important advertising consideration. Many of Hasbro's games have been around so long that they have entered into popular culture. In 1998 Hasbro bought Avalon Hill for $6 million[3] and in 1999 Wizards of the Coast was bought in a deal worth $325 million.[4][5] Wizards of the Coast is now a subsidiary of Hasbro and has Avalon Hill as its division. In 2001 money-losing Hasbro Interactive, a subsidiary formed in 1995, was sold to French software concern Infogrames for $100 million.[6]
Some of the Hasbro-owned subsidiaries are/were:
The largest subsidiary of Hasbro was probably Kenner (in Cincinnati, Ohio). Kenner was the toy company that was behind the success of the Star Wars, Play-Doh, Super Powers, M.A.S.K., Strawberry Shortcake and Care Bears toy lines. When Tonka and then later Hasbro acquired Kenner, the Kenner location became the foremost producer for Hasbro "boys toys", leading production on the high-profile lines of 12" G.I. Joe releases of the nineties, and the Transformers, Batman and Star Wars toys. However, after sales declined in 2000 after the Star Wars toy market saturation implosion, Hasbro faced a difficult decision in cutting back its spending in order to continue to cater to their primary buyers. They decided to close the entire Cincinnati plant, relocating about 100 employees and laying off over 400. This decision, while good for Hasbro, created a ripple effect on the Cincinnati job market which continued to push businesses out of Cincinnati, which, with Procter & Gamble and Hasbro, had managed to be the midwest city for corporate advertising and graphic design.
In the early 21st century, Hasbro allowed for the use of Mr. Potato Head in a community art project similar to those with cows in Chicago and pigs in Cincinnati. Painted and reoutfitted versions of Mr. Potato Head by various artists sprouted up all over Rhode Island and were welcome additions in front of businesses and buildings (including a New England staple, Dunkin Donuts) for the duration of the project.
Hasbro would be the largest toy and game publisher in the world if it were not for Mattel's Barbie franchise.
In 2008, Hasbro acquired game maker Cranium, Inc. for $77.5 million. The deal was announced on January 4 and closed on the 25.[7] [8] Cranium is best known for its Cranium board game, which requires players to hum, draw and sculpt their way to the top. It makes a range of other games for children and adults and has sold more than 22 million games, books and toys worldwide.[9]
Hasbro has often touted the safety of all its products, claiming they are lead free and that they exceed government safety standards. They have specifically made mention of having no lead paint recalls. This was in order to distinguish themselves from the lead paint controversies of 2007 that plagued many other leading toy brands such as Mattel.[10][11][12]
On January 17, 2008, before the Hasbro acquisition of Cranium closed, a recall was issued on the Cranium Cadoo board game due to lead paint in the dye, which is made in China. Because of the acquisition, Hasbro lists the recall on their website.[13][14] Hasbro also has several recalls relating to design flaws in its toys that can present a safety hazard to young children.[15]
Hasbro has several brands of toys and games aimed at different demographics. Some of its better-known toy lines are:
Hasbro is the largest producer of board games in the world as a result of its component brands, such as Parker Brothers, Waddingtons, Milton Bradley, Wizards of the Coast, and Avalon Hill (all acquisitions since the 1980s). As a result it has well known and top selling games such as:
Hasbro also produces many variations of most of their games. For example, in addition to original Scrabble, the game is also available as "Scrabble Deluxe Edition", "Scrabble Deluxe Travel Edition","Scrabble Junior", and "Scrabble Onyx Edition".
Hasbro also offers games of physical skill such as:
Hasbro began a short-lived computer and video game development and publishing venture called Hasbro Interactive in the 1990s, but disbanded it in late 1999. Now Hasbro develops video games based on its brands through third-party developers and licensing strategies.
On February 25 2005, Hasbro announced that it would be introducing a musical toothbrush to the market. The Tooth Tunes, released in early 2007, transmits music from the jawbone to the ear when the bristles touch the teeth.