Charles Esther
Sharon Price John is the CEO of Build-A-Bear Workshop, one of the most recognizable brands in the plush toy industry.
Under her leadership, Build-A-Bear’s stock has surged by 35% over the past year, bringing the company’s valuation to nearly $500 million.
With nostalgia-driven marketing and an understanding of the evolving consumer base, Price John has successfully navigated a rapidly changing toy market.
Let’s take a closer look at her journey and the factors driving Build-A-Bear’s growth.
From Toy Enthusiast to CEO
Sharon Price John’s love for toys began in her childhood. “Barbie was one of my favorite toys when I was a kid,”.
This passion for toys led her to pursue an MBA from Columbia University and a career at Mattel in 1994, where she started her journey in the toy industry.
After a successful stint at Mattel, she moved to Hasbro and eventually took on the role of CEO at Build-A-Bear in 2007.
Her transition to Build-A-Bear was a natural one.
“My journey, it’s almost poetic,” she explained. “When people look at it, they think I planned it — but I didn’t.”
In her three decades in the toy business, Price John has witnessed numerous trends and transformations, including the rise of the “kidult” market.
The Power of Nostalgia and Targeted Marketing
One of the main factors behind Build-A-Bear’s impressive sales growth is its ability to tap into nostalgia.
By focusing on creating experiences that remind people of their childhood, Build-A-Bear has attracted both new and returning customers.
The company’s 25th-anniversary campaign in 2022, for example, reminded adults of the joy they felt when they first encountered Build-A-Bear’s cuddly creations.
Price John reflected on the success of this nostalgia-driven campaign, saying, “At the time, less than 20% of our total sales were teens and adults.
Now it’s 40% of our sales.”
This growth can be attributed to the company’s ability to market directly to a generation that fondly remembers their Build-A-Bear experiences and is now ready to rediscover them.
Social media also plays a crucial role in Build-A-Bear’s targeted marketing.
Platforms like Instagram and TikTok allow the company to reach niche communities with specific interests.
Price John explained, “That’s where all of that sort of these subsets have emerged, and it makes it much more efficient to communicate with like-minded groups.”
By collaborating with beloved brands like Harry Potter, Pokémon, and Hello Kitty, Build-A-Bear taps into the passions of millennials and Gen Zers, which has proven to be a major driver of its success.
The Rise of Plushies Among Gen Z and Millennials
Plushies, once thought of as a toy for young children, have seen a major resurgence, particularly among young adults.
According to Mintel’s Traditional Toys and Games report, stuffed toy sales have grown among Gen Z and millennials in recent years.
This rise can partly be attributed to social media communities where people embrace their interests without fear of judgment.
Brian Benway, the author of the report, commented, “A lot of people are taking the approach that, well, I don’t care if other people think this is dumb, this brings me a little bit of happiness, a little bit of joy, so I’m going to keep doing it.”
Build-A-Bear has capitalized on this trend, appealing to a new generation that values plush toys for the joy and self-expression they bring, not just for their role as children’s playthings.
Expanding Build-A-Bear’s Global Reach
As of early 2023, Build-A-Bear operates nearly 600 locations worldwide, with sales reaching $496.4 million for the year ending February 1.
The company’s global presence and impressive sales figures are testament to Price John’s ability to lead the company through a competitive and constantly evolving market.
One of Build-A-Bear’s keys to success is its diverse product offerings.
In addition to its classic bears, the company has collaborated with franchises such as “Deadpool,” “The Matrix,” and “Ted Lasso,” which has allowed it to appeal to a wider audience, including pop culture enthusiasts and collectors.
Price John mentioned that the combination of Build-A-Bear and a brand like Harry Potter has “explosive” potential, given that both were launched in the same year in 1997.
These partnerships create a powerful emotional connection with fans and drive the brand’s growth.
Childhood Development and the Value of Toys
Price John also understands the deeper value of toys, especially in childhood development.
“Nurture toys teach you how to be a caring, giving person.
There are role-play toys that teach you that you’re practicing being an adult.
There are building toys that teach you how things work together,” she explained.
These lessons are crucial to children’s growth and self-development, and they often stay with individuals throughout their lives.
For many adults, plushies evoke powerful memories of their childhood, making them more than just toys.
Price John said, “We place extraordinary meaning in them.
There are things that you look at, and the feeling that that evokes is really good.”
The emotional bond people have with their childhood toys often leads them to rediscover their love for plushies in adulthood, helping fuel the growth of the market.
A Future Focused on Joy and Self-Expression
Looking forward, Price John remains focused on providing joy and self-expression through Build-A-Bear’s products.
As the toy market continues to evolve, Build-A-Bear is well-positioned to thrive by tapping into nostalgia, targeting key consumer segments, and expanding its product offerings.
Sharon Price John’s leadership has turned Build-A-Bear into a global powerhouse, not just by selling toys, but by creating experiences that connect with people on an emotional level.
As she continues to navigate the toy industry, Price John’s passion for playful joy and her understanding of her audience ensure that Build-A-Bear will remain a favorite for years to come.
