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Ideal History Ideal Toy Company was an American toy company founded by Morris and Rose Michtom . During the post–World War II baby boom era, Ideal became the largest doll -making company in the United States . Their most popular dolls included Betsy Wetsy , [1] Toni, Saucy Walker, Shirley Temple , Miss Revlon, Patti Playpal , Tammy , Thumbelina , Tiny Thumbelina, and Crissy . [2] Their last big hit was the Rubik's Cube .
HistoryCorporate historyMorris and Rose Michtom founded the Ideal Novelty and Toy Company in Brooklyn when they invented the Teddy bear in 1903.[3][4] After Michtom's death in 1938, the company changed its name to the Ideal Toy Company,[5] and Michtom's nephew Abraham Katz became chief executive. During World War II, the company's value rose from $2 million to $11 million.[6] The company's dolls were so popular during the post–World War II baby boom era, they began selling dolls under license in Canada, Australia, the United Kingdom, and Brazil.[citation needed] Key Ideal employees during the 1950s, '60s, and '70s were Lionel A. Weintraub and Joseph C. Winkler. Weintraub, the son-in-law of Abraham Katz, joined the company in 1941 and rose to become president, chairman of the board, and chief executive officer. Winkler joined Ideal in 1956, rising to vice president by 1971.[7] In 1951, Ideal partnered with competitors the American Character Doll Company and the Alexander Doll Company to establish the United States-Israeli Toy and Plastic Corporation, designed to produce material for toys in Israel and the U.S. Ideal CEO Abraham Katz was named president of the new company.[8] In 1968, the American Character Doll Company filed for bankruptcy, and Ideal acquired the defunct company's dyes, patents, and trademarks,[9] as well as specific products like the "Tressy" Gro-Hair doll. In late 1971, Ideal joined the New York Stock Exchange; valued at $71 million, it was one of the U.S.'s top three toy companies.[6] By 1970, Ideal had outgrown its manufacturing complex in Hollis, Queens. The company wanted to build a new plant in College Point, Queens (later the site of Shea Stadium), but was unable to strike a deal with the Lindsay administration. Consequently, the company opened a new facility in Newark, New Jersey, in the early 1970s, while continuing to operate its factory in Hollis.[3][10][11] Ideal had earnings of $3.7 million in fiscal year 1979–1980, but lost $15.5 million in fiscal year 1980–1981. (Sales both years averaged c. $150 million.)[7] Trying to maximize profits on the Rubik's Cube craze, in May 1981 Ideal filed civil suits against dozens of distributors and retailers selling knockoff cubes.[12] In May 1981, Joseph Winkler was named Ideal's president, succeeding Lionel Weintraub, who remained chairman and CEO.[7] In 1982, the company moved its headquarters from Hollis, Queens, to Harmon Meadow, New Jersey. It was sold to CBS Toys later that year for c. $58 million.[3] In 1987, CBS sold Ideal to Viewmaster International, which renamed itself View-Master Ideal in the process. In 1989, View-Master Ideal was bought by Tyco Toys of Mt. Laurel, New Jersey, for $43.9 million.[13] The Ideal line remained part of Tyco until Tyco's merger with Mattel, Inc., in 1997. Ideal's United Kingdom assets were sold to Hasbro, which has since released Mouse Trap and KerPlunk under its MB Games brand. Other toys that originated with Ideal continue to be marketed and sold by other companies, including Rubik's Cube by Hasbro and Magic 8-ball by Mattel. The Ideal trademarks, and most toy molds not purchased by Hasbro or Mattel, were purchased by Jay Horowitz of American Plastic Equipment, who later transferred all rights to American Plastic Equipment's subsidiary, American Classic Toys. Mr. Horowitz licensed the trademark and toy rights to Plaza Toys, to be used on its Fiddlestix building sticks products, and eventually sold the mark and toy rights in January 2011 to Poof-Slinky.[14] In January 2014, the Ideal brand and toy rights became part of a new company, Alex Brands, after the May 2013 acquisition of Alex Toys by Propel Equity Partners.[15] In early 2019, Jay Horowitz of American Classic Toys, entered into an exclusive license agreement with the Juna Group to represent select Ideal brands - not included in the sale to Poof-Slinky - in all categories outside of toys and playthings, worldwide. Products historyIdeal began making dolls in 1907 to complement its line of teddy bears. Their first doll was “Yellow Kid” from Richard Felton Outcault's comic strip of the same name. After that Ideal began making a line of baby and character dolls such as Naughty Marietta (from the Victor Herbert operetta), and Admiral Dot. Ideal advertised their dolls as "unbreakable," since they were made of composition, a material made of sawdust and glue. Ideal produced over 200 variations of dolls throughout the composition era.[2] Understanding branding well, Ideal had a boy doll launched in 1914 named the Uneeda Kid, after a biscuit company. One of Ideal's most lasting products was Betsy Wetsy, introduced in 1934 and in production for more than 50 years. The doll was named after the daughter of Abraham Katz, the head of the company.[2] Ideal, via the Betsy Wetsy doll, was also one of the first doll manufacturers to produce an African American version of a popular doll.[16] In 2003, the Toy Industry Association named Betsy Wetsy to its Century of Toys List, a compilation commemorating the 100 most memorable and most creative toys of the 20th century.[17] Debuting in 1934, the Shirley Temple doll was their best-selling doll. Ideal follow up with licensed Disney dolls and a Judy Garland doll.[4] Two cosmetics-based doll series were launched after World War II: Toni was introduced at the end of the 1940s, followed by the 1950s-dominating Miss Revlon series.[4] Ideal had a hobby division in the 1950s, but shifted from that to games in 1962. By the early 1970s, 30% of the company's sales were games such as Mouse Trap and Hands Down.[6] Doll designer Judith Albert worked for Ideal Toy Company from 1960–1982.[1] Master sculptor Vincent J. DeFilippo spent 27 years creating dolls for Ideal from 1963–1980[verification needed]. Some of the company's most popular dolls during this period were Tammy (1962–1966), Flatsy dolls (1969–1973), Crissy (1969–1974), and Tressy (1970–1972). Popular Ideal toys in the 1970s included a full line of Evel Knievel toys, Snoopy toys, and the Tuesday Taylor and Wake-up Thumbelina dolls.[18] For a short time, the company had a huge seller with the Magic Cube, which it imported from Hungary in 1980 and renamed Rubik's Cube.[19][20]
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