Child psychology is one of the most fascinating areas of study, with new thought processes and ideas coming up. However, some of their traits are highly embedded and well-known like the one ‘Kids like looking forward to things.
And banking on this tendency, one man built a billion-dollar business. He is Isaac Larian and he is the CEO of LOL Dolls.
Inception
The founder and now CEO is an insomniac, who on one particularly sleepless night was struck with the idea of dolls sheathed in a ball-shaped plastic shell and concealed under packaging. This challenged children to tear the wrapping and finally arrive at their piece of joy! Larian came to this process on watching unboxing videos on YouTube.
The first dolls were sold in 2016 at select target stores, selling 5,00,000 units in two months. By 2018, the brand of dolls had sold 800 million units, making it the Toy of The Year by the Toy Association.
Reasons of popularity
The surprise element of these dolls is what has made them so popular, as people and especially kids love to be surprised. The excitement involved in unwrapping gifts and toys is unmissable, making it an activity for the kids, something they look forward to.
Also, the clever and contemporary designs with a vast variety almost guarantee recall and repeated buying. Their quality too is undeniable, with MGA being a name synonymous with innovation and quality.
Current status
With many varieties of dolls coming up, LOL is anticipating production of around 45 million LOL Surprise! Toys. By fall 2022, the company plans to transition about 65 percent of their L.O.L. Surprise! plastic balls to the new sustainable packaging at all retailers globally.
In order to reduce its carbon footprint, MGA is committed to maintaining 95 percent recycled or Forest Stewardship Council (FSC)-certified content in the paper and wood fiber used in their products and packaging.
About MGA
It is the fastest growing and largest privately held toy company in the U.S., headquartered in California.
The company is well-known for using innovation in its processes and makes licensed and proprietary consumer products like toys, games, dolls, apparel, consumer electronics, home décor, stationery, and sporting goods.
Award-winning brands from the MGA umbrella include L.O.L. Surprise! ™, Little Tikes®, Rainbow High™, Bratz®, Na! Na! Na! Surprise™, Baby Born® Surprise, and Zapf Creation®. Visit us
