face-to-face
Chris Isitt, Rubies
After starting his toy trade career working for Fisher Price and Kiddicraft, Chris Isitt joined Rubies Masquerade Co in 1998, and was recently promoted to the position of VP, EMEA and Australia. Chris loves curry, supports Chelsea and is very particular about journalists spelling his name correctly.
TW: You’ve got quite an operation here in the UK these days...
CI: When I first joined the business in 1998 there were seven of us. Now there are 103 people on the UK payroll, a growing number of whom are based permanently in Hong Kong and China.
TW: In July you picked up the sole Dress- Up rights to the Disney licence for the next three years. That must have been a welcome development...
Chris Isitt
MD, Rubies Masquerade Co. TW: So how’s business?
CI: We’ve just closed the books for our year end, and it has been another great year for Rubies. We finished six per cent up, and recorded increases across each of the key sectors we trade in. We achieved encouraging growth through online retailers, the majors are still performing strongly and the independent trade is as solid as ever.
TW: Your business isn’t as seasonal as many toy companies, is it?
CI: Thankfully we enjoy an all-year round business with a number of peaks. In addition to Christmas, Halloween is obviously an important time for the costume market, whilst Book Week is getting stronger every year. It used to be the case that we had to persuade many retailers to make the most of the opportunity, but retailers are now fully onboard and the event is really gaining momentum. Schools – and the kids themselves – really throw themselves into it, and it provides a great boost to sales of costumes and accessories.
34 Toyworld
CI: Rubies is a truly global company, with a comprehensive European distribution network – including wholly owned offices in each key territory – which makes us a prime partner for licensing companies looking to maximise sales throughout Europe. We’ve enjoyed a fantastic 18 months with our Disney range. Toy Story, Rapunzel, Cars and Pirates of the Caribbean have all been very successful. When you factor in evergreen franchises such as Disney Princess, the underlying strength of the Disney portfolio is such that I’m sure we’ll continue to maintain a strong performance going forward.
TW: Which other licences are looking strong for 2012?
CI: 2012 will be a big year for Warner Bros, with the third and final instalment of Batman Dark Knight, the new Thundercats TV series and The Hobbit all coming through, and we’re anticipating strong sales for these properties. There are also some very interesting developments with Hasbro’s key brands such as My Little Pony and Transformers, and Lucasfilm has a lot of activity planned to keep the Star Wars bandwagon rolling.
TW: How can toy retailers make the most of the Dress-Up category?
CI: Dress-up is a £70-80 million category (if you include the adult market), and yet interestingly it is not covered by NPD. It represents a great opportunity for those retailers who give it the time, resource and space it needs. With most of the large major accounts focusing on a dozen or so key lines, there is huge scope for other retailers to build a strong range which doesn’t compete with them, and offers strong all year-round sales and very healthy margins. Many of our toy retail customers also successfully sell a range of adult costumes. It’s all about creating a destination for families, who will often visit a shop together in order to buy their outfits for a special occasion or event.
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