Toy Biz
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Formerly called
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Charan Toys ToyBiz |
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| Industry | Toys |
| Fate | Defunct |
| Predecessor | Charan Industries Inc. |
| Founded | 1988 |
| Defunct | 2007 |
| Headquarters | United States |
| Products | Games, toys and children's vehicles; dolls and stuffed toys |
| Owner |
Isaac Perlmutter Avi Arad |
Marvel Toys (formerly Toy Biz and Charan Toys) was an American toy company, a division of Marvel Entertainment, and was best known for producing toys such as action figures and games.
ToyBiz originated in Montreal, Quebec as Charan Industries's American brand. Reincorporated in 1988, ToyBiz became an American firm. It became a major producer of Marvel character toys and partially owned by Ronald O. Perelman's Marvel Entertainment Group in 1993. In June 1998, the company became part of Marvel Enterprises. On January 1, 2007, Hasbro became the new license holder to the rights to produce toys and games based upon the Marvel Universe. Marvel Toys continued to produce non-Marvel trademarked brands until late 2007, after this time, the division quietly dissolved with their website going down in 2008.
Marvel Toys original forerunner was a Canadian company, Chantex, Inc., started in the late 1800s. Started by the Zuckerman family, the grandson, Sol Zuckerman, grew the business in 1961 from $.16 million in sales to sales of $4.5 million in 1980. Zuckerman became a merger and acquisition executive during the 1980s. In 1980, Chantex merged with Earl Takefman's Randim Marketing, Inc., a school supply manufacturer and wholesaler to become Charan Industries Inc. In 1984, Charan went public with annual revenues at $20 million. Its Charan Toy, Inc. subsidiary became a leading licensing toy company in 1985 with nine top ten toys Canadian rights including Cabbage Patch Kids. Charan used a very broad approach to implementing its brands across all lines. Charan acquired Cooper hockey equipment brand in the Mid-1980s. Charan took this brand and used in within Charan's children's wear division. This approach would move onto the operations of ToyBiz and a key to its success.
In the late 1980s, Charan Industries sold the toy subsidiary as Zuckerman did not see the value of the strategies. Becoming an American-owned company, Charan Toys was renamed Toy Biz. In 1990, the company was purchased by Isaac Perlmutter, who became chairman with Joseph Ahern brought in as chief executive officers. Ahern was focused on cost control and the bottom-line by leasing a headquarters in New York City and a warehouse in Arizona and outsourced China manufacturing. In 1993, ToyBiz made an unusual move by getting an "exclusive, perpetual, royalty-free license" to Marvel Characters for 46 percent of ToyBiz equity.Avi Arad joined ToyBiz that same year for salary and a 10% stake in the corporation. He also ended up heading Marvel's animated production. Toy Biz, Inc. reorganized with Perlmutter continue owning the original Toy Biz, Inc., which is renamed Zib, Inc. Zib held its foreign sales affiliate, Toy Biz International Ltd., a Hong Kong corporation and Perlmutter's share of the new Toy Biz, Inc.
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