Discovery Toys
IndustryMulti-level marketing
Founded1978 (1978)
FounderLane Nemeth
HeadquartersLivermore, California, U.S.
Key people
Jerry Salerno (CEO)
ProductsToys
Websitewww.discoverytoys.net

Discovery Toys is a multi-level marketing company specializing in educational toys.[1] Its products are sold in the U.S. and Canada, and its headquarters are in Livermore, California.

The company was purchased by Avon Products in 1997 and became a wholly owned subsidiary of Eos International in 2001.[2][3][4]

History

Discovery Toys was founded as a multi-level marketing company in 1978 by Lane Nemeth,[5] a former daycare director, with a $5,000 family loan.[1][6] Lane, a mother from the San Francisco bay area, started the company when she was unable to find educational toys for her own children.[7]

According to Nemeth, the company had 2,500 sales "consultants" in 1982 and had reached $4.6 million in revenue the previous year.[8] Ms. Nemeth grew the company to a $100 million in annual revenue by 1997 then sold the company to Avon[9] who sold it in 2002 to a private equity group. Discovery Toys was acquired by and became a wholly owned subsidiary of Eos International, Inc. in July 2001.[1][4]

One of the company's top selling toys is Marbleworks. Released in 1982, it consists of colorful, sloped, plastic half-pipes of different designs. The individual pieces interlock, creating a track on which marbles are run.[10] Marbleworks was included in Discovery's product line when Discovery Toys expanded into China in 2003.[11]

References

  1. 1 2 3 "Eos International, Inc. Form 10-K (2001)". U.S. Securities and Exchange Commission. Retrieved February 23, 2020.
  2. ↑ "Avon to Buy Discovery Toys". Los Angeles Times. 1997-01-23. Retrieved 2022-12-08.
  3. ↑ Carlsen, Clifford (1997-02-16). "Discovery Toys opens its door to Avon offer". www.bizjournals.com. Retrieved 2022-12-08.
  4. 1 2 "EOS INTERNATIONAL $6.5 MILLION SHORT TERM NOTES EXTENDED". www.sec.gov. Retrieved 2022-12-08.
  5. ↑ Newman, Andrew Adam (2007-12-22). "For Pet Owners, Too, Toys a Reason for Concern". The New York Times. ISSN 0362-4331. Retrieved 2022-12-08.
  6. ↑ Nancy Rutter (July 1, 1990). "Greer vs. Nemeth". Inc. Retrieved December 8, 2009.
  7. ↑ Said, Carolyn (2011-12-18). "Bay Area toy makers put modern twist on classics". SFGATE. Retrieved 2022-12-14.
  8. ↑ Steve Kaufman (November 7, 1982). "Entrepreneur's sales thrive from educational toy parties". Boca Raton News (Knight Ridder). Retrieved December 8, 2009.
  9. ↑ Coco Masters (April 4, 2005). "Let's Pawty!". Time. Archived from the original on March 6, 2008. Retrieved December 8, 2009.
  10. ↑ Matt, McFarland (2013-12-09). "The childhood toys that inspired female engineers and scientists". The Washington Post. Retrieved 2022-12-14.
  11. ↑ Kathy Chen (2003-09-24). "Discovery Toys Will Launch Its Toys and Games in China". The Wall Street Journal. Retrieved 2008-08-19.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.