Russ Berrie and Company, Inc. is a major manufacturer of
teddy bearThe teddy bear is a stuffed toy bear. It is an enduring, traditional form of a stuffed animal, often serving the purpose of entertaining children. In recent times, some teddy bears have become collector's items.- History :...
s and other gift products, including
stuffed animalA stuffed toy is a toy sewn from cloth, plush, or other textiles, and stuffed with straw, beans, plastic pellets, cotton, synthetic fibers, or other similar materials. Stuffed toys are also known as plush toys from plush, the outer material used, and soft toys or cuddly toys...
s, baby gifts, soft baby toys and development toys, as well as, pictures, candles, figurines and home fragrance products.
Founded in 1963 by the late Russell Berrie (1933 - 2002) in a rented garage in New Jersey, today the Company operates offices, showrooms, and distribution centers all over the world and trades on the NYSE under the symbol RUS.
One of Russ Berrie's most popular stuffed animals was the Russ Rutherford III stuffed monkey line.
Russ Berrie and Company, Inc. is a major manufacturer of
teddy bearThe teddy bear is a stuffed toy bear. It is an enduring, traditional form of a stuffed animal, often serving the purpose of entertaining children. In recent times, some teddy bears have become collector's items.- History :...
s and other gift products, including
stuffed animalA stuffed toy is a toy sewn from cloth, plush, or other textiles, and stuffed with straw, beans, plastic pellets, cotton, synthetic fibers, or other similar materials. Stuffed toys are also known as plush toys from plush, the outer material used, and soft toys or cuddly toys...
s, baby gifts, soft baby toys and development toys, as well as, pictures, candles, figurines and home fragrance products.
Founded in 1963 by the late Russell Berrie (1933 - 2002) in a rented garage in New Jersey, today the Company operates offices, showrooms, and distribution centers all over the world and trades on the NYSE under the symbol RUS.
One of Russ Berrie's most popular stuffed animals was the Russ Rutherford III stuffed monkey line. These monkeys were produced from the early 80's to early 90's and featured a monkey with a plastic face, feet, and hands.
A pivotal moment in Russ's history is the
troll dollTroll dolls, originally known as Leprocauns and also known as Dam dolls, Gonks, Wishniks, Treasure Trolls, and Norfins, became one of America's biggest toy fads from the autumn of 1963 through 1965...
. Troll mania became popular in the early 90's and doubled company sales. By 1992, the public lost interest in the homely troll dolls, which resulted in crippling losses of more than two million dollars. Although this was devastating to the company, it only made Berrie stronger and more determined to succeed. Today the company sells over 900 products.
In 2003, Russ Berrie had revenue of US$329.7 million and net profit of US$34.7 million. For the nine months ending September 30, 2004, net sales fell 18% to US$198.4 million. Net losses totaled $12.9 million compared to income of US$25.8 million for the first nine months of 2003. According to
ReutersReuters Group Limited is a UK-based, Canadian-controlled news service and former financial market data provider that provides reports from around the world to newspapers and broadcasters. News reporting once accounted for less than 10% of the company's income. Its main focus was on supplying the...
, revenues reflect weak customer acceptance of new product releases; net losses reflects an increases in selling and administrative expenses due to unfavorable exchange rate fluctuations.
Acquisitions
In July 2002, Russ Berrie acquired Sassy, Inc.
In December 2004, Russ Berrie acquired Kids Line LLC.
In June 2007, Russ Berrie acquired Shining Stars, a collection of stuffed animals that go online in a kid - safe virtual world.
Shining Stars
The
Shining Stars program was introduced in partnership with the
International Star RegistryThe International Star Registry , founded in 1979, enables buyers to name a star as a gift or memorial, though with no scientific or official authenticity. Once the star is named, the ISR publishes its telescopic coordinates in a book called "Your Place in the Cosmos."-History:The company was...
. Russ Berrie's Shining Star Friends product line was introduced to market the program. When an individual purchases a plush animal they can log into the website and supposedly name a star. To register your plush, you must open the tag (found round the toy's neck) and enter the secret code into the website. If you obtain a certain number of toys (and register them) you will gain access to the VIP zone in the Super Starcade chatroom.
Video games and films
"Shining Stars: Super Starcade" is a video game released for the Nintendo DS on June 9th. There was also a movie released, obtained by purchasing 2 Shining Stars. However, the film is only available on the website.
Philanthropy
The Russ Berrie Institute for Professional Sales at
William Paterson UniversityWilliam Paterson University is a public university located in Wayne, New Jersey, an affluent suburb of New York City. It is set on wooded in northeast New Jersey and the campus is located just west of New York City. The University has 10,256 students...
is named after Russ Berrie.
In 1993, Russ Berrie made a lead gift of $1 million to build a new performing arts center and cutting edge learning facility at
Ramapo CollegeRamapo College of New Jersey is a public liberal arts and professional studies institution of the New Jersey system of higher education.- Location :...
, in
Mahwah, New JerseyMahwah is a township in Bergen County, New Jersey, United States. As of the United States 2000 Census, the township population was 24,062. The name Mahwah is derived from the Lenni Lenape word "mawewi" which means "Meeting Place" or "Place Where Paths Meet".The area that is now Mahwah was...
called, "The Angelica and Russ Berrie Center for Performing Arts."
External links