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H. Ty Warner founds Ty Inc.
H. Ty Warner, a college dropout, founded his own toy company that started by creating colorful, life-sized, under-stuffed cat plushes. His goal was to create affordable yet adorable stuffed animals. References Calvario, L. (2023). Where is Ty Warner, the billionaire subject of “the beanie bubble”, now? TODAY.com. https://www.today.com/popculture/news/ty-warner-now-beanie-baby-founder-rcna98266 -
Beanie Babies are debuted
Warner unveils his never-before-seen idea at the World Toy Fair in NYC: small stuffed animals filled with pellets to make them easier to pose. References The insane history of Beanie babies. Public.com. (2022). https://public.com/learn/beanie-babies-boom?wpsrc=Organic%2BSearch&wpsn=www.google.com Calvario, L. (2023). Where is Ty Warner, the billionaire subject of “the beanie bubble”, now? TODAY.com. https://www.today.com/popculture/news/ty-warner-now-beanie-baby-founder-rcna98266 -
Ty begins retiring animals
To create artificial scarcity (therefore creating a resale market for the retired Babies), Ty stops producing certain animals in the line and makes new ones to replace them. This move puts society on the path of a Beanie Baby craze. References The insane history of Beanie babies. Public.com. (2022). https://public.com/learn/beanie-babies-boom?wpsrc=Organic%2BSearch&wpsn=www.google.com -
McDonald's includes Teenie Beanie Babies in Happy Meals
Truly the start of the Beanie Baby craze, this partnership with McDonald's sends collectors of all ages tearing through their Happy Meals to add another Teenie Beanie Baby to their collection. This video shows the original commerical for the toys. References Consumer Time Capsule. (2018, June 19). 1997 – McDonald’s – Teenie Beanie Babies Commercial [Video]. YouTube. URL https://www.youtube.com/watch?v=3foQJKw7ihI -
Warner lands a spot on Forbes' list of 400 richest Americans
Due to skyrocketing popularity, Warner's company sees a huge boost in revenue, pushing its creator into the richest ranks of American society. References Calvario, L. (2023). Where is Ty Warner, the billionaire subject of “the beanie bubble”, now? TODAY.com. https://www.today.com/popculture/news/ty-warner-now-beanie-baby-founder-rcna98266 -
Beanie Babies market crashes
With the introduction of mainstream internet and technology, investors and sellers started turning their focus to tech companies, causing the resale price of Beanie Babies to plummet. References Murdock, J. (2020). The Dotcom crash was 20 years ago today-could it happen again?. Newsweek. https://www.newsweek.com/dotcom-bubble-crash-20-anniversary-technology-companies-ever-happen-again-1491385 -
Baby Ty line released
To appeal to babies and toddlers, softer versions of Beanie Babies called Baby Ty were released. This line was one of the first to be released after Beanie Babies. References Fandom, Inc. (n.d.). Ty Beanies. Nunypedia. https://thenunyclub.fandom.com/wiki/TY_Beanies#:~:text=Pluffies%20(2002%2Dpresent)%20Small,is%20covered%20in%20long%20hairs -
Pluffies are released
Pluffies are the third notable line to come out of the Ty company. They are softer, larger, and are intended for small children. References Fandom, Inc. (n.d.). Ty Beanies. Nunypedia. https://thenunyclub.fandom.com/wiki/TY_Beanies#:~:text=Pluffies%20(2002%2Dpresent)%20Small,is%20covered%20in%20long%20hairs -
Beanie Boos are released
Reigniting the stuffed animal craze, Beanie Boos are stuffed animals with large eyes. They come in various sizes and types and are still readily available in stores with more variations being released year-by-year. References Beanie Boo History (2009-2017). codysbeaniebooswebsite. (n.d.). https://codysbeaniebooswebsite.jimdofree.com/beanie-boo-history/#:~:text=Beanie%20boos%20were%20first%20released,%2CPeanut%2C%20Slush%20and%20Waddles -
Warner convicted of tax evasion
Warner was convicted of tax evasion on the grounds that he had been failing to report $24 million income from Switzerland-based banks since 1996. He epaid a $53 million fine and was sentenced to two years probation. References Calvario, L. (2023). Where is Ty Warner, the billionaire subject of “the beanie bubble”, now? TODAY.com. https://www.today.com/popculture/news/ty-warner-now-beanie-baby-founder-rcna98266 -
Warner uses money to give back
Cummulatively from the company's creation to 2015, Warner states that he has donaated $100 million in cash and toys to the Children's Hunger Fund. He still remains in the top 500 richest people in America as of 2023. References Calvario, L. (2023). Where is Ty Warner, the billionaire subject of “the beanie bubble”, now? TODAY.com. https://www.today.com/popculture/news/ty-warner-now-beanie-baby-founder-rcna98266