A new toy company has launched an e-commerce store that charges a premium price to users who are willing to pay for “add-ons”.
The company, called The Toy Factory, has been growing steadily in Australia since it was founded in 2011.
It sells toys ranging from Disney Princesses to plush animals and more than $150,000 worth of toys have been sold on its website alone since it launched in December last year.
The Toy Factory’s CEO said that most of its sales were online.
“When we first launched we were doing really well but we had a lot more than that on the back end,” he said.
“It’s not something you do overnight.
It takes time.”
Mr McEvoy said his company has now grown to be a $1.5 billion business.
“The real growth came in the last year, after we had started to build up our sales in the US,” he told The Australian Financial Review.
“We had our first major online sale in the UK.”
Then we had another major online sales in Europe and China and then we started to see more and more people coming in.
“What we found was that people really like to spend money on the products they buy, and that’s why it’s the perfect time to do a big push into the US.”
The Toy Garage’s first US sale was in September 2016.
Mr McEwan said he had no plans to stop selling toys in the States but was focusing on Australia.
“People are more open to buying toys that are going to be more interesting to play with,” he explained.
“That’s the main thing that I’m looking for in Australia and that is people really want to spend their money on their childrens toys.”
Mr Meehan said he was very grateful to have been able to make his toy company’s presence known.
“You see that in other countries, but in Australia, it’s so big and so successful,” he added.
“If you have a toy store in Australia that’s a big deal, it means you’re a big success.”
The full interview with The Toy Garage is available on The Australian financial review website.