Fisher Price
In 1930, Hem Fisher saw the need for a better quality toy for preschool-aged children and wanted to do something for the same. With Irving L. Price and Helen M. Schelle, he founded Fisher-Price. The company rose heights in the marketing developmental toys for preschool aged children.
Traditional brands of toys such as Fisher-Price, owned by Mattel since 1993, are on the decline. Mattel announced a 14 percent fall in global gross sales for the Fisher-Price and Thomas & Friends brands for the second quarter of 2018, partly due to the effects of the liquidation and closure of the Toys ‘R’ Us. Like Lego did, Fisher-Price too needs to reinvent itself.