This month, Richard North gets mistaken for Michael Acton Smith, Lego chats to Vivid, and ToyNews meets astrologer Russell Grant
TOYTALK TAG-TEAM INTERVIEW
Drew Brazer, VP & GM of UK/Ireland, Lego
Vs
Congratulations on your Lifetime Achievement Award! Did you ever think 20 years ago you would have built one of the largest toy companies in the UK? Honestly, no. I think we started out with a noble ambition to create a sustainable, creative toy company that would be fun to work in… but not in our wildest dreams did we ever think we would have grown the way we have. We definitely had our lucky breaks along the way, but I believe the old Gary Player golfing adage is true – he famously stated that the harder he practiced, the luckier he got!
What are Vivid’s major milestones that stand out most for you? Firstly, becoming a top ten UK toy company within three years of starting up. Secondly, becoming the number one UK toy company in 2002 – the first British firm to achieve this feat in over 25 years. And thirdly, evolving in the past 18 months from being a UK-centric company to an emergent global company with over 30 per cent of sales revenues outside the UK.
Now that the first 20 years are under your belt, what does the future hold for Vivid in the next 20 years? Firstly and most importantly, holding onto and building on our strong creative and entrepreneurial culture. Secondly, to grow our brands in a sustainable way both in UK and internationally.
The pace of the industry is such that we all need a break to recharge. I normally run a few miles each morning before work. How do you relax and recharge? I swim, run or cycle every morning to get the blood running, depending on the weather. I still love competitive sport, so whenever I can, I play tennis or golf. Often neither of these seem very relaxing at the time of playing, but they definitely get my mind away from toys for a few hours!
Nick Austin,
Chairman and co-founder, Vivid
Lego’s UK boss Drew Brazer questions Vivid’s chairman Nick Austin about how the digital revolution is affecting his business and getting those all-important early morning runs in
Congratulations on Moshi Monsters becoming the number one overall toy property in the UK (YTD August)! How do you intend to make Moshi an ‘evergreen property’ versus a hot multi-year fad? Well I certainly believe the property owner Mind Candy will build the digital brand equity ongoing, with the clear intention to turn the brand into a long-term ‘staple’ children’s brand. Vivid’s role in that process necessitates firstly that we continue to manage supply prudently, even though that may mean keeping inventory tighter than retailers would like. And secondly, to create new Moshi toys and games that excite and inspire collectors and fans of the brand… all 70 million of them.
How does Vivid continue to innovate and stay relevant in such a competitive arena? We disproportionately invest in people talent to ensure that creatively we leave no stone unturned. And we continue to work very hard to understand what kids really want to play with and collect in this ever- changing, ever-accelerating kids entertainment sector.
The world is fast changing with the rapid growth of digital. How has the digital age changed the way Vivid does business? The digital revolution has helped Vivid move forward in so many ways. New digital IP like Moshi Monsters has definitely given us a content edge as we were faster to react than bigger competitors. Digital/social media gives mid-sized companies like Vivid a real chance to enter new markets very cost effectively, by reducing dependence on more traditional media. And the digital revolution continues to reduce business systems costs, to offset increases in expenditures in other areas.
Who will you be interviewing next month? Mind Candy’s Darran Garnham.
TOY GUINNESS WORLD
RECORD OF THE MONTH LARGEST JIGSAW PUZZLE
If you find jigsaws too easy, how about this one? It consists of 21,600 pieces, stretching across a whopping 5,428.8 square metres (or 58,435.1 square foot). It was devised by Great East Asia Surveyors & Consultants Co. Ltd and assembled by 777 people at the former Kai Tak airport, Hong Kong. Rather them than us. Corporate.guinnessworldrecords.com
SEPARATED AT BIRTH?
No, we’re not sure either. But we wouldn’t complain if we were in either of their shoes. Wow Stuff’s CEO Richard North (left) was recently mistaken for Mind Candy’s CEO Michael Acton Smith (right), by a couple of girls who decided to ‘chat him up’. North went along with it (so to not let down their feelings, of course). Maybe we should grow our hair long… or just start up a globally successful kids’ entertainment company...