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Toy Industry CEO’s Talk About Inflation
From:
Richard Gottlieb -- Toy Industry Expert Richard Gottlieb -- Toy Industry Expert
For Immediate Release:
Dateline: New York, NY
Thursday, April 22, 2021

 

The Consumer Price Index, which tracks inflation, went up higher last month than at any time since 2012. Inflation was at 0.6% which annualizes to 7.2%.

To learn more, Fox Business featured Isaac Larian, CEO of MGA Entertainment, and Arnold Kamler, Chairman and CEO of the Kent International Bicycle Company. Here are my takeaways:

According to Isaac Larian:

Toy prices are up 23%.

He is unable to find sufficient labor for his American factory.

He predicts inflation will be up double-digits by the fourth quarter.

He showed one of his dolls and stated that it would rise from a retail of $26.99 to $29.99.

According to Arnold Kamler:

His company has experienced 30% increases in the cost of aluminum and steel over the last six months to one year.

The retail prices for his company’s bicycles will be up 25% to 30% by year-end.

His company is paying a 25% tariff on every bicycle they import.

Both gentlemen state:

Retailers understand and are accepting price increases (although not without a fight) because they are getting hit with them by all vendors. They also note that some major retailers do their own sourcing in China and know first-hand about price increases.

Click on the below video to hear the entire interview.

Richard Gottlieb

Global Toy Experts / Global Toy News

646 675 3019

richard@globaltoyexperts.com

 

News Media Interview Contact
Name: Richard Gottlieb
Title: CEO
Group: Richard Gottlieb and Associates, LLC
Dateline: New York, NY United States
Cell Phone: 646-675-3019
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