Fighting dog in the toy industry: Larry, the billionaire who beat Barbie
![Fighting dog in the toy industry: Larry, the billionaire who beat Barbie]()
Outside the office at the corner of Isaac Larian, the showcase occupies the entire wall of the small meeting room. The cabinet is filled with dolls that bring him wealth, from his first popular toy, the Bratz in a miniskirt to the latest Lalaloopsy, which have bright pink and Neon orange curls. In the middle of Larry's dolls, there are various denominations of framed dollars scattered from employees, friends and business partners who bet that this or that product will fail - eventually losing the bet. The most recent example is the $100 banknote that the sales director lost. He once wondered if Lele Angel would be popular. He wrote down the words in the blank space of the banknote with a signature pen: "I was wrong."
In Larian's view, the voices of these defeated players are as good as the sound of the cash machine. “I am passionate about making toys that kids want, and I am passionate about winning,†said the 59-year-old Iranian-American, who has short, short hair with drooping eyes and a strong Persian accent. These two passions have created a strong heart for the most powerful and motivated businessman in the toy industry.
Don't be fooled by his neat and beautiful blue French cufflinks shirt, unfashioned polka-dot ties and the new black Monk shoes with the right-hand soles on the price tag. Don't be fooled by the action of his amused photographer on a toy scooter. Isa Clarion is willing to fight any guy who is holding him back – whether it's his rival Mattel or his brother Fred. He said, "We take on the risk that no one dares to take risks and create a toy that is different in the market."
Larry's MGA Entertainment, based in Vanes, Calif., estimated sales of $820 million last year, making the company the largest privately-owned toy manufacturer in the US and bringing huge wealth to Larian. : He holds 82% of the company's shares, with an asset value of $1.1 billion (estimated using comparable data from Mattel and Hasbro). Given the experience of MGA's almost collapse seven years ago, such achievements have to be admired, thanks to the company's and Mattel's costly legal proceedings. The lawsuit between two 10 to 12-inch giants, the Bates doll and the Barbie doll, is still in full swing. Larian said, "The Mattel guys are all liar. Yes, you can quote my sentence." (Mittal refused to respond.)
BMO Capital Markets analyst Gerrick Johnson observed Larian for many years, saying that "Isac is like a bulldog. He always seems to be arguing with others. This drive drives him forward."
This may be due to the growing experience of Larian. In Tehran before the Islamic Revolution in Iran, he was a child who was rejected. Larian has five children in his family. His family is poor, he is of Jewish descent, and his father is a textile salesman. He always instills in his belief that death is the most suitable time to sleep. He decided to realize the American dream and was immersed in countless Japanese movies ("My God, I like Spartacus"). In 1971, he bought a one-way ticket to Los Angeles and arrived in the United States. There is only $750 in the pocket. He earned a bachelor's degree in civil engineering by earning money as a waiter and attending California State University in Los Angeles.
Building a bridge is not his future direction. Ayatollah took over the Iranian regime, and his plan to return to China was shattered. Larian and his brothers joined the business and became importers and exporters, selling inferior brass crafts from South Korea. (They also managed to transfer their parents’ funds out of Iran). In the early 1980s, they switched to consumer electronics and repackaged Game & Watch, the predecessor of the Nintendo GameBoy, which sold for $21 million in the first year. Although the sales momentum of this product has gradually subsided in a few years, Larian has become interested in the toy industry. In 1996, an inventor who hit the wall found him and brought in a design for talking dolls. He had previously sold the design to Mattel but was rejected, and Larian accepted it. This is the Singing Bouncy Baby, which was unexpectedly successful in 1997.
Larian asked his team to create a new fashion doll. He recalls, “Every toy they design looks like Barbie.†In September 2000, he saw a sketch by independent designer Carter Bryant, a kind of big head, Toy doll with thick lips. Although Larian didn't like the design at first, he was very fond of Jasmin, the daughter of the elementary school.
Among the many dolls, the Bates doll achieved the achievement of “there was no one before the ancients†– she defeated Barbie. In 2005, MGA's sales of Bezi dolls reached about $800 million; at that time, Barbie's revenue fell to $445 million. The Bates doll has all the elements that Barbie lacks – sexy and glamorous, dressed in the latest fashions, from different races.
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