Article from a Guest Expert
The Top Companies Continuously Innovating Youth Products
The best and most successful companies are those that continuously innovate throughout the years. There’s one faction in which this couldn’t be more evident—youth products. A continuously refreshed market makes innovation paramount for children’s companies, and this list includes the top companies who continuously remain on top of the game by offering new and improved youth products. You may recognize some names while others might not have come across your radar; in either case, these are the companies that have made the most of innovation to keep their revenue high. Used in homes, schools, and daycares, these children’s product companies are the ones that continue to innovate and remain on top of the competition.
Originally founded under the name Ritvik Toys, Inc. back in 1967, MEGA Bloks has made a variety of changes in the 50 years since. Renamed in 2002, the company has acquired licenses and various toy brands in the past decade. Originally famous for large, colorful interlocking blocks, the company’s new product offerings have gone far beyond these sets. Now sporting the rights to make toys for brands like Hello Kitty, Halo, Barbie, and the increasingly popular video game Call of Duty, to name a few, the company has recently begun exploring toy options within the technology sector.
Melissa & Doug
Melissa & Doug might not yet be a household name like Mattel and Hasbro, but this toy company has continuously proven its tenacity and ability to produce high-quality items that children of all ages adore. Being innovative doesn’t have to mean embracing technology, and this company proves it. Instead of giving into the trend of computerizing their toys and other kids’ products, these toymakers focus on classic mediums including wood to create high-quality products that harness creativity and inspire. By focusing on producing new ways to appeal a child’s imagination—an unchanging aspect of human nature—they innovate through methods beyond using electronic components.
Not all children’s companies are toymakers. Easton is an innovative baseball equipment company that repeatedly rolls out new and improved gear for kids to use in a wide array of sports. Better yet, many of their offerings are tailored to young players, with hand size and ability in mind. It’s rare to attend a T-ball or youth baseball game without seeing Easton youth baseball bats, and it should come as no surprise. The company doesn’t stop at the familiar equipment, however. From cleats to gloves to bags, Easton has proven itself to be a one-stop shop for baseball and softball players alike.
The Honest Company
Currently valued at over $1.7 billion, The Honest Company continues to roll out natural, baby-friendly products for health-conscious moms and dads to utilize with their little ones. While the company ran into a hiccup with their sunscreen products in the last year, their tenacity to roll out new items has kept them on the forefront of sales. In their first year, the company reached $10 million in sales with only 17 products available. At the time, their offerings were purchased a la carte, or through a subscription service. Today, they offer over 135 products, and have expanded far beyond diapers: they now offer nipple balm for breastfeeding mothers, toothpaste, infant formula, and even baby bandanas. By rolling out new and exciting products that remain in accordance with their natural ingredients and holistic health approach, The Honest Company continues to capture sales and attention.
With a current yearly revenue of $4.57 billion, Hasbro shows no sign of slowing down. Everywhere you look in any children’s store, you see Hasbro’s offerings. As one of the largest toymakers on the globe, this company is likely responsible for your child’s (and maybe even your own) favorite games and toys. From Mr. Potato Head to Monopoly, Transformers to Good old G.I. Joe, Hasbro does it all. Since the 1980s, this company has made it its mission to acquire multiple toy companies, including Tonka trucks, Nerf, and Playskool.
This Denmark-based company is going strong. While it’s true that kids are increasingly plugged into technology, you’d be hard-pressed to find a child who doesn’t want to get on the floor and build a Lego creation. One way the company continues to stay on top of the innovation game is to release their products in accordance with trending media brands. Take their Star Wars Legos line, for example. While the basis of their blocks is the same, they provide characters in the likenesses of famous characters from the film series, and entice an entirely new generation and sector through these efforts.
Remaining competitive means changing with the times, while still offering the high-quality products loyal customers have come to expect. These companies have proven their ability to remain on top in the youth products sector through various methods of innovation, and no doubt will continue to expand in the market as the years go on.
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