Tuesday, November 11, 2008

How a tiny toy makes big bucks

Remember the lady who had to sell away her awesome Hot Wheels collection because of the financial crisis? Poor lady. Here's an interesting related story about Hot Wheels and how the tiny toy is a toy craze again. From Newsweek:
In the fad-driven fantasyland of toys, Hot Wheels has had an incredible ride. Those pocket rockets have been racing down their familiar orange tracks for four decades now and, unlike the real car market, show no signs of slowing down. Last year Hot Wheels set a record, as sales surged by 16 percent, and they continue to accelerate in 2008 even as the economy tanks. In fact, as Motown melts down, Hot Wheels is heating up. The tiny toy cars' parent company, Mattel, now has a market capitalization that surpasses General Motors. That's right—Wall Street thinks the maker of toy cars is worth more than the largest real carmaker in America.

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