Producing Fun and Games for Generations
Today, the mighty Hasbro, a Fortune 500 company headquartered in Pawtucket, R.I. (pop. 72,958), has annual net revenues in the billions of dollars but continues its original mission: to help Americans have fun.
In the beginning, there was a potato. But not just any potato.
In 1952, the Hasbro toy company introduced Mr. Potato Head, the first toy product advertised on television—and the cornerstone of a dynasty that would help define several generations of childhood with playtime icons such as G.I. Joe, My Little Pony, the Transformers and hundreds of others. Today, the mighty Hasbro, a Fortune 500 company headquartered in Pawtucket, R.I. (pop. 72,958), has annual net revenues in the billions of dollars but continues its original mission: to help Americans have fun.
“It’s simple,” says Wayne Charness, Hasbro’s vice president of corporate communications. “Our job is to make people smile!”
Citizens of Pawtucket and folks all over Rhode Island smile with pride about having Hasbro—producer of the world’s greatest toys and games—on home soil. In 2000, the Rhode Island Tourism Board even installed 47 6-foot, 150-pound Mr. Potato Head figures as landmarks around the state and named the toy its official ambassador. The Hasbro Children’s Hospital, a first-class children’s care facility in nearby Providence, opened in 1994, and the company’s generous Charitable Trust alleviates the financial hardship of many local families.
According to Pawtucket Mayor James Doyle, who worked for the company as a teenager, Hasbro has never lost sight of its small-town roots. “They’re excellent citizens of the town,” he says, citing the company’s numerous charitable programs and ongoing contributions to the American Cancer Society.
Hasbro got its start in the early 1920s when brothers Henry and Helal Hassenfeld sold textile remnants, pencils boxes and school supplies. Henry’s son, Merrill, took over as president in the 1940s and widened the company’s product line to include toys, paving the way for worldwide success. In the last 20 years, Hasbro has strategically purchased other companies responsible for introducing generations of Americans to memorable toys and games such as Tonka trucks, Play-Doh, Easy Bake ovens, Nerf balls, Weebles and Furbys, among many others. The acquisitions turned Hasbro into a multinational conglomerate with 7,000 employees in 30 locations and 20 countries.
Hasbro Games division, located in East Longmeadow, Mass. (pop. 14,010), is the world’s leading manufacturer of board games. The division employs nearly 1,800 people and manufactures more than 100 different games, producing 80 million games a year. Thanks to Hasbro’s acquisition of two historic game manufacturers—Milton Bradley in 1984 and Parker Brothers in 1991—the division rolls out scores of classics, including the preschooler favorite Candyland, which turns 50 this year. Others include Clue, Trouble, Sorry!, Battleship and the world’s best-loved word game, Scrabble, which has sold more than 100 million copies globally.
“Board games have been a part of people’s lives since they were kids,” says Mark Stark, the Games Division’s vice president of marketing. “Generations have come to trust these brands.”
And customers put their money where their trust is. Monopoly was introduced by Parker Brothers in 1935 and sells an average of 5 million copies annually. Within a year, the 50 millionth copy of Candyland is expected to land in someone’s shopping cart. “Candyland is a rite of passage into games,” Stark says. “It’s when a child learns what it means to actually sit down and play a game. It’s a joyful opportunity for a kid to have fun with a grownup.”
In addition to its success with classic games, Hasbro stays current by introducing new products, too. Last year, the company introduced a DVD version of Candyland, remade the famous Operation game featuring cartoon ogre Shrek as the patient, and launched special editions of Trivial Pursuit themed around the movies Star Wars and Lord of the Rings, plus a 20th anniversary version targeted at younger players.
Though the nature of toys and entertainment is always changing, Hasbro’s mission has remained constant for generations.
“In the end, we’re just trying to find different ways for kids to have fun,” Charness says. “How great is that?!”
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