 | |
| Marvel Toys | |
| Formerly | Charan Toys, Toy Biz |
| Founded | 1988; 37 years ago (1988), inMontreal,Quebec,Canada |
| Defunct | 2007 (2007), inNew York City,New York,United States |
| Fate | Closed byMarvel Entertainment |
Key people | Isaac Perlmutter Avi Arad (toy designer) |
| Products | Games, toys and children's vehicles; dolls and stuffed toys |
| Owner | Marvel Entertainment Group |
Toy Biz, Inc. (later known asMarvel Toys) was atoy manufacturer, originally founded inMontreal,Quebec asCharan Toys. The company is best known for holding theMarvel Comics toy license from 1990 to 2006.
In 1993,Marvel Entertainment Group acquired a minority stake in Toy Biz.[1] In 1998, Toy Biz merged with Marvel Entertainment Group to bring it out of bankruptcy, with the two merged companies becomingMarvel Enterprises. Toy Biz would continue as the name of its toy manufacturing division.
In 2005, the division would start to use the name Marvel Toys, as well as Toy Biz, to reflect theMarvel Cinematic Universe.[2] In January 2006,Hasbro acquired the Marvel Comics toy license, to release its first products in January 2007. The division attempted to continue with non-Marvel licenses, but became inactive by fall 2007.[3][4]
The company's original forerunner, Canadian company Chantex, Inc., was founded in the late 19th century by the Zuckerman family. The business grew from $.16 million in sales to sales of $4.5 million in 1980.[1] In 1980, Chantex merged with Earl Takefman's Randim Marketing, Inc., a school supply manufacturer and wholesaler, to become Charan Industries Inc.[5] Its Charan Toy, Inc. subsidiary became a leading licensing toy company in 1985.[1] In addition to toys, Charan implemented brands in other areas, including acquiring a hockey equipment brand in the mid-1980s.[6]
In 1988, Charan Toys was renamed Toy Biz and became an American firm.[7][8]
In 1990, Charan, including the Toy Biz subsidiary, was purchased by businessman Ike Perlmutter.[9] In 1993, Toy Biz made a deal for "exclusive, perpetual, royalty-free licenses" ofMarvel Characters for 46 percent of Toy Biz equity.[10]Avi Arad, a toy designer and comic book fan, joined Toy Biz that same year.[9]
Toy Biz continued licensing outside brands, includingDC Comics characters, producing goods such as theBatman's (1989)Batmobile and some action figures,[11]Hercules: The Legendary Journeys andXena: Warrior Princess action figures based on theAction Pack television series shown on manyNew World Television stations. Also, agreements withGerber[12] andNASCAR were acquired.[citation needed][1] In 1995, Toy Biz acquired Spectra Star, Inc.[13] andQuest Aerospace Education, Inc., both toy companies.[1] Toy Biz started up its Classic Heroes candy division in 1996, which sold candy/toy combinations using mainly Marvel characters.[citation needed] The company also entered the electronic learning aids (ELA) segment of the toy industry in 1996 with a licensing agreement withApple Computer.[1]
Toy Biz partially acquired Marvel Entertainment Group.[14] In the late 1990s, Marvel Entertainment Group filed for bankruptcy and became the subject of a battle for control in bankruptcy court.[15][16] The company was salvaged in 1997 and merged with Toy Biz in 1998.[17][14] The new company becameMarvel Enterprises, and Toy Biz became a division of the new company.[18][10]
In 1999, Toy Biz ventured intoprofessional wrestling, acquiring the master toy license toWorld Championship Wrestling (WCW). After two years, the license deal was cut short, due to WCW being purchased by theWorld Wrestling Federation in 2001.[19]
Toy Biz were also notable for producing action figures for Peter Jackson'sLord of the Rings Film Trilogy between 2001 and 2005. Having developed a good working relationship withNew Line Cinema following theirBlade toy line , Toy Biz managed to get the rights in spite of stiff competition from other companies. Toy Biz made several developments with this line - going for a slightly larger 6 inch scaled figure as opposed to the 3 31/4” scale popularised by toy lines such as Hasbro'sStar Wars figures and going for a mixture of screen accuracy and articulation/playability in order to appease both child and adult collectors.[20]
The company would later license products forTotal Nonstop Action Wrestling (TNA),Curious George andCode Lyoko.[21][22]
In 2001, Marvel Enterprises licensed the rights to the 'Toy Biz' name to a Hong Kong–based toy manufacturer, Toy Biz Worldwide Ltd. Toy Biz also outsourced much of the manufacturing to Toy Biz Worldwide Ltd.[23]
In January 2006, Marvel Entertainment signed a five-year licensing agreement withHasbro Inc. for $205 million, giving Hasbro the right to make toys and games based on Marvel Comic licenses. As a result of this, Marvel Entertainment prematurely terminated its agreements with Toy Biz Worldwide Ltd, by a year.[24] As a result of the early termination, Marvel Entertainment paid Toy Biz Worldwide Ltd. a penalty of between $13–16 million USD.[25][24]
Throughout 2007, the division struggled to stay afloat without the Marvel Comic licenses. The company introduced a series called the Legendary Comic Book Heroes – making action figures of non-Marvel Comic characters, though it suffered with poor sales. The company also furthered its TNA Wrestling and Curious George lines. Marvel Entertainment quietly began to close the division. In late 2007, the company's website shut down.[26]
In 2022,Hasbro released updated versions of Toy Biz's first wave ofMarvel Legends figures to celebrate the line's twentieth anniversary.[27]
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