Nov. 15 (Bloomberg) — Selling retailers on this season’s must-have toy, robotic hamsters called Zhu Zhu Pets, was like gambling millions in blackjack, said creator Russell Hornsby.
“This is a Christmas where a lot of people didn’t want to take big risks,” Hornsby, 56, founder and chief executive officer of closely held Cepia LLC, said in a telephone interview. “You’re gambling because you’re selling to kids. That’s a pretty fickle group.”
The bet is paying off. U.S. and U.K. retailers, such as Wal-Mart Stores Inc., Target Corp., Toys “R” Us Inc. and Tesco Plc, can’t keep them in stock. Target is limiting them to four per customer. Some parents are resorting to Amazon.com, where the critters sell for at least twice the $8-to-$10 price.
“It’s the hottest toy I’ve seen since I’ve been at Toys ‘R’ Us, and old-timers tell me this is one of the hottest toys in history,” said CEO Jerry Storch, 53. He has been at Toys “R” Us for almost four years.
via Robotic Hamsters Sell Out at Walmart as Season’s Must-Have Toy – Bloomberg.com.
