New toy craze, Hatchimals, are in high demand. Analyst, Jim Silver of TTPM, says, Spin Master, the company that makes them, will sell about two millions of Hatchimals this year. Bobbi Rebell reports.
The biggest hit of the holiday season has been hatched. Hatchimals- fuzzy little robots that peck their way out of their shells and then respond to their owners cues are the invention of Canadian toy company Spin Master- and they have become must have's for kids around the world. (SOUNDBITE) VOICE ON THE PHONE, (ENGLISH) SAYING: "I need another five hundred units." (SOUNDBITE) ANTON RABIE CO-CEO, SPIN MASTER, (ENGLISH) SAYING: "Five hundred?!" Introduced in October and retailing at around eighty dollars, by mid-November Hatchimals were a monster hit - and sold out worldwide. The founders of the company behind the Hatchimal craze didn't see it coming. (SOUNDBITE) ANTON RABIE CO-CEO, SPIN MASTER, (ENGLISH) SAYING: "We didn't realize it would be a phenom, right, to the size that's it been." Now online re-sellers are demanding as much as 400 dollars for the toy. Industry expert, Jim Silver of TTPM. (SOUNDBITE) JIM SILVER, CHIEF EXECUTIVE OFFICER/EDITOR-IN-CHIEF, TTPM.COM, (ENGLISH) SAYING: "This was predicted to be the best toy, and the hottest toy of the year. We actually predicted it back in October. It's very unique, because you actually get to see a toy hatch out of its egg, and it's just become total phenomenon. Spin Master will sell about two million Hatchimals this year." In an industry dominated by giants like Hasbro, Mattel and Lego, Toronto-based Spin Master is growing faster than any of them. The company started in 1994 and has launched hot toys, like Air Hogs, which also had retailers scrambling for supply. In the last ten years Spin Master has bought 15 companies, and it's now worth a whopping 3.5 billion dollars.