Ritvik also added TV advertising that year with a $2 million campaign the company spent $30 million on advertising, marketing, and research and development in 2002. Ritvik made transformable building sets that changed into vehicles, and a remote control electronic kit named the Mega Bloks RO Action Builder. Lego, K'Nex and Ritvik added features to their lines in 2000. was amalgamated with Ritvik Holdings Inc. Ritvik followed the late 1990s licensing trend in 1998, with its first licensing agreement being for Teletubbies, followed by an agreement with Fisher-Price with its Sesame Street characters license. International sales in the 1990s were at 30%, with 70% from Canada and the US all but 10% were from four major chains: Toys 'R Us, Wal-Mart, Target, and Kmart. Two international subsidiaries were formed, Mega Bloks Latinoamerica S.A. Rita Bertrand and her daughter Chantal retired that year, while Marc and Victor Bertrand, Jr. In 1996, a 28% share of Ritvik was sold to the Blackstone Group. Since Lego's brick shape patent had expired, the lawsuit dragged on for years as sales grew worldwide (at an average 70% a year until the mid-1990s), but finally Ritvik won the case by clearly distinguishing its brand from Lego. Lego Canada soon sued Ritvik for unfair competition, claiming a likelihood of confusion between its Micro Mega Bloks and the Lego line. This finally placed Ritvik and The Lego Group in direct competition. Ī Mega Bloks "Micro" line was released in 1991 these were compatible with or a clone of Lego bricks. In 1989, Ritvik sold all of its other toy and plastics lines. A piano set with Mega Blok-compatible keys for the pre-school market was released in 1988. īy 1989, Mega Bloks were in 30 countries and popular in Europe, the US and Canada. Several multinational companies had made offers just after the trade show for distribution rights, as well as to buy either Mega Bloks or RH itself. An immediate hit, Mega Bloks had generally large sales in Canada, including a $1 million sale to Toys R Us, and were available almost anywhere in the two markets in 1985. Īt 1984 trade shows, Ritvik showed the Mega Bloks line in the US and Canada. Bertrand ignored friends and advisors, feeling he had two advantages in launching Mega Bloks: he aimed to produce jumbo-sized bricks for toddlers, who Lego bricks were not designed for, and he considered his expertise in injection molding would give him a price advantage. With Lego being the leading construction toy, Bertrand chose to make a similar set. He saw room for growth despite them being an industry staple since the early years of the 20th century when the Batima Block was released in Belgium in 1905. Wanting to expand beyond Canada, Victor Bertrand took an interest in construction block sets. The company had a leading share of the plastic injection molded market by the early 1980s. Ritvik later became a vertically integrated company as it expanded by adding plastic injection molding operations, design operations, tooling manufacturers, and marketing services. RH began by distributing toys made outside Canada and also facilitated contracts between foreign brands and Canadian manufacturers. Ritvik is a portmanteau word based on a combination of Rita and Victor. In 1967, Victor Bertrand and his wife Rita founded the company as Ritvik Holdings (RH). In 2016, Mega Brands' Bloks was second in worldwide sales (11%) of toy construction building sets. The company distributes a wide range of construction toys, puzzles, and craft-based products. Its other brands include Mega Construx, Mega Puzzles, Board Dudes and Rose Art. Mega Bloks, a line of construction set toys, is its most popular product. and Ritvik Holdings) is a Canadian children's toy company that is currently a wholly owned subsidiary of Mattel.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |