Toy market unaffected by hard times

No amount of money can buy the joy that a toy can bring to a child. This was the view expressed Thursday by the local distributor of Barbie dolls and other high-end toys who also said that the toy market in the country continues to flourish despite the hard times. Myrna Yao, Richwell Trading Corp. chief operating officer, said the P10-billion toy market in the country has not slowed down even with the economic difficulties.

“Parents are also happy when they buy toys for their kids even if this would empty their pockets,” Yao said in a roundtable with editors and reporters of The Manila Times.

She added that her company, Richwell, believes that every child deserves a happy childhood and that toys “give them happiness they cannot forget.”

Yao said that Richwell Trading started in 1980 as a trader of vehicle tires in Quezon City before becoming a leading distributor of toys and children’s apparel.

She added that her company began selling Barbie dolls in 1982, when most Filipinos thought they were expensive and impractical. They were confident that nothing could go wrong with the world’s most popular doll.

Then came orders from department stores as well as bookstores.

“And, as they say, the rest is history,” Yao said.

She pointed out that Barbie dolls and spin-off products such as school supplies, bags, shoes and clothes now account for about a fourth of total company sales.

Later on, Richwell Trading also became the exclusive distributor of Hot Wheels, Matchbox, VTech electronic toys, Pigeon baby products and other well-known brands. Besides toys, the company also licenses and distributes shoes and apparels of the brands they carry. It also operates Barbie, Chicco and Kids Depot outlets.

Its affiliate, Europlay Distributor Co. Inc., meanwhile distributes Chicco and Mega Bloks, among others.

“We have been constantly growing,” Yao said.

Four years ago, Richwell introduced a lower-priced brand, Star Kids, whose toys are priced just between P49 and P199.

Yao said Richwell Trading is committed to providing affordable, good quality and safe products that children, as well as adults, would enjoy. –BEN ARNOLD DE VERA REPORTER, Manila Times