For decades, Hasbro has been a well-known brand. Its development from basic toys to a major source of entertainment is admirable. In the 1920s, Hasbro expanded from a small company to a multinational manufacturer of toys. The company launched well-known toys and ventured into games and movies throughout the decade. This blog will explore Hasbro’s evolution from classic toys to modern favourites and how it has become a global leader in the entertainment industry.
Early classic era （1920s-1950s）
The founding year
Hasbro was founded by three brothers, Henry, Hillel, and Herman Hassenfeld. The company was started as Hassenfeld Brothers, selling textile remnants. It was a small family business based in Rhode Island, USA. Over time, Hasbro shifted its focus to making school supplies and simple toys.
First toy product
In the 1940s, Hasbro entered the toy market. Its first popular toy was a doctor and nurse kit for kids. This toy became a hit, marking Hasbro’s entry into the industry and setting the stage for future success.
The breakthrough year
Hasbro’s big breakthrough came in 1952 with the launch of Mr. Potato’s Head, which was advertised on television for the first time. This toy became a massive hit and sold millions of copies, making Mr. Potato a leading name in the toy industry.
In the classical era, Hasbro established a foundation and introduced its first massive hit toy.
The Golden Era （1960s-1980s）
Expansion and Innovation（1960s）
G.I. Joe
After Barbie’s success, Hasbro wanted to create something for boys. The Hasbro team worked for months to develop realistic soldier figures for boys. In 1963, Hasbro made a G.I. Joe. This creation changed the entire toy industry forever. G.I. Joe hit the store shelves in 1964. Hasbro called this action figure for boys instead of the doll. This figure had 21 moving parts and a realistic uniform. In the first year alone, G.I. Joe made $16 million.
In 1966, the Vietnam War toys made other military toys less popular. This time, Hasbro cleverly changed their G.I. Joe figure, adding a lifelike beard and making it relevant to the time and trend.
Entering pre-school market
In 1968, Hasbro acquired a popular TV show called Romper Room, which helped the company enter the preschool market. This time, Hasbro utilized a smart business strategy and started producing simple toys based on TV shows. This allowed the company to expand its market beyond action figures to a younger audience.
The First Nerf ball
In 1969, Hasbro introduced the Nerf ball, the first official indoor ball. This softball allows children to play safely at home. The slogan, “Throw it indoors: you cannot damage lamps or break windows,” helps sell millions of Nerf balls.
Company name
The name Hasbro comes from the Hassenfeld brothers. In 1968, the company officially shortened its name to Hasbro Industries, making the brand recognizable and catchy. The name change also reflects the company’s growing presence in the market.
Diversification and Strategic moves（1970s）
The 1970s was a decade of substantial growth for Hasbro, which focused on expanding its product line. Strategic acquisitions, new leadership, and smart licensing assisted Hasbro in diversifying and reaching new heights.
Acquire a model kit company:
In the 1970s, Hasbro acquired a model kit company, expanding into the model-building market. This move expanded Hasbro’s reach to collectors and hobbyists, strengthening its position in the toy industry.
Alan Hassenfeld
In 1972, Alan Hassenfeld, a third-generation founding family member, joined the company. His entry brought fresh ideas to the company, and his leadership continued the family legacy. He also adapted to the modern market and introduced critical, innovative changes.
Upgrade G.I. Joe action figure and licensing partnership.
In 1975, the iconic G.I. Joe figures received an upgrade. The company introduced a figure with a “Kung-Fu grip,” which gives G.I. Joe action figures flexible, moveable hands. After the Star Wars release, this movie highlighted the value of licensing popular franchises. Hasbro learned from this and started strategic partnerships with other brands. In 1979, Hasbro acquired the Peanuts character license. Peanuts character acquisition allowed Hasbro to create merchandise featuring iconic characters like Charlie Brown and Snoopy, strengthening Hasbro’s presence in the market. Hasbro had a significant impact on the market in 1970. The 1970s were transformative for Hasbro, as strategic decisions paved the way for future success.
The Golden age of toys（1980s）
Hasbro introduced innovative toys in the 1980s, solidifying its position as a leader in the toy industry.
My Little Pony
In 1982, Hasbro launched the beloved My Little Pony toy line, bringing life to colourful ponies with unique symbols known as “cutie marks.” This product line made the brand a cultural phenomenon, leading to movies, series, and a wide range of merchandise. It made a massive mark on pop culture.
Acquisition of Play-Doh Brand
In 1983, Hasbro acquired Play-Doh, a modelling compound children love for its ease of use and texture. This acquisition allowed Hasbro to enter into the educational toy market.
Launch of Transformer and Milton Bradley Acquisition
In the year 1984, Hasbro launched the Transformer toy line. This Transformer toy line features robots that can transform into vehicles, animals and other objects. This imaginative concept won the audience’s hearts worldwide. In the same year, Hasbro acquired Milton Bradley, an iconic company known for its board games. This acquisition expanded the Hasbro toy line.
G.I. Joe relaunch
Hasbro relaunched the G.I. Joe action figure under the banner of ‘’G.I. Joe: Real America Hero’’ in 1985. This relaunch introduced 3.75-inch action figures, each with a unique character, supported by an animated series or comic book. This combination propelled G.I. Joe to a new height of popularity.
Acquisition of Parker Brother
Hasbro acquired Parker Brothers in 1988. Parker Brother is the company behind classic board games like Clue, Scrabble and Risk. This expansion allows Hasbro to offer its consumers diverse gaming experiences.
Electronic games
As the electronic industry flourished, Hasbro identified the opportunity and introduced electronic games. In 1989, Hasbro acquired Tiger Electronics. This marks Hasbro’s commitment to adaptability, fulfill its consumer demand and stay relevant.
In the golden era, Hasbro diversified its product line, acquired top brands and mastered cross media marketing.
Digital transformation （ 1990s-2000）
Digital transition year
The 1990s were critical years for Hasbro. In this decade, Hasbro recognized the importance of digitization in entertainment and started integrating digital elements into toys. Hasbro also began experimenting with electronic toys and games, which helped it stay relevant to the industry as kids were more into them. In the early 1990s, Hasbro partnered with Virgin Interactive Entertainment to develop toys and games software. This partnership ended after two years because it was not successful.
Multimedia Expansion
Hasbro expanded its reach beyond traditional toys. The company entered the video game and TV show market and provided a cross-platform experience. Popular franchises like Transformers and G.I. Joe bring fresh air through animated series, video games, and merchandise, helping Hasbro reach new audiences across different platforms.
The entertainment company era
At the end of the 1990s, Hasbro changed its focus from making toys to becoming an entertainment company. In addition to making toys, the company prioritized telling a story and creating a fantastic experience. Hasbro established its place in the more significant entertainment sector by producing TV series and films based on its well-liked toy line.
Hasbro 2020s Era and Future
Since 2000 onwards, Hasbro has been on an exciting journey of digital transformation. The company embraced the internet, mobile devices, and social media, creating a connected play experience. By developing apps, Hasbro found a new way to complement its physical store.
Expansion into digital gaming
Hasbro partners with video game developers and publishers. As a result of this partnership, Hasbro created video games based on their famous franchises, such as G.I Joe, My Little Pony, and Transformer. The company has also stepped into virtual reality and augmented reality. In 2019, Hasbro partnered with eOne, including popular franchises like Peppa Pig and PJ Masks. This allows Hasbro to expand its storytelling.
Sustainability and social responsibility
Hasbro is committed to protecting the environment and decreasing its impact on the surroundings. The company focuses on reducing its footprint by using eco-friendly materials in its products. It also promotes diversity in its workforce and marketing campaign. This helps Hasbro build a positive brand image.
Hasbro Future
As technology advances, Hasbro will likely incorporate AI into its toys to personalize them and make them more engaging. Hasbro is exploring Metaverse and other virtual worlds, which shows how committed Hasbro is to blending traditional toys with advanced technology. Hasbro’s future is dynamic and strongly emphasizes digital integration.
In digital transformation, Hasbro embraces digital trends and ensures its relevance in a changing market.
Conclusion
Hasbro’s evolution from classic toys to modern-day interactive toys shows its ability to adjust to change to give its consumers what they want. From its early 1920s day to till date, Hasbro consistently adapts to change. By integrating technology and prioritizing social responsibility, Hasbro has always been a leader in the toy industry. Hasbro’s journey is the blend of tradition and innovation and gives a magical experience through this blend.
FAQs
When was Hasbro founded?
Hasbro was founded in 1923 in Rhode Island, USA, by three brothers.
What marked the golden era of Hasbro?
The action figure like G.I. Joe marked the golden era of Hasbro. This product line still rules Hasbro, and people are still really into this.
How did Hasbro adapt to change?
Hasbro adapted to change by integrating technology into its toys and offering a fantastic interactive experience through its toys.
What is Hasbro known for?
Hasbro is known for its G.I. Joe, NERF, Play-Doh, board games, Hasbro gaming, Peppa Pig, and Transformers series.
Why is Hasbro successful?
Hasbro is successful because of its ability to adjust to change and stay relevant to its audience. Its motive was not just to produce toys; it integrated all media platforms and gave its consumers immersive experiences.