Applause (toy company)
| Company type | Privately held company |
|---|---|
| Industry | Toy manufacturing |
| Predecessor | The Wallace Berrie Company |
| Founded | 1966 |
| Founder | Wallace Berrie |
| Fate | Filed for bankruptcy in 2004; brand purchased by Russ Berrie |
| Successor | Brand maintained by Kid Brands |
Area served | United States |
| Products | Plush toys, collectible figurines, stuffed animals |
Applause Inc. operated as a privately held enterprise focused on producing plush toys and collectible figurines, with significant subsidiaries such as Dakin Inc. and International Tropic-Cal Inc. The Applause brand is currently maintained by Kid Brands.
History
The company was originally established in 1966 under the name The Wallace Berrie Company by founder Wallace Berrie. In 1979, it took ownership of the Applause division from Knickerbocker Toys. After being acquired by Jerrald A. Plebiew in 1986, the company was rebranded as Applause Inc. In 1992, it introduced the Magic Trolls Babies toy collection.
R. Dakin & Co.
R. Dakin & Co. was launched by Richard Dakin in 1955, initially focused on importing European shotguns before transitioning to battery-powered trains and plush toys by 1957. The firm quickly gained retail contracts for its sawdust-stuffed cotton-velveteen products. On December 20, 1966, a plane crash tragically claimed the lives of Richard Dakin and several family members, which affected the company's management.
Dakin merger
Between 1991 and 1995, the company grew its retail footprint by emphasizing licensed entertainment brands supported by in-store merchandising initiatives.
In late 1995, Applause expanded its product range by acquiring Dakin Inc., a manufacturer known for stuffed animals. This move enhanced its generic stuffed animal offerings and complemented its licensed entertainment portfolio.
Additionally, Applause formed a Strategic Alliances Group to oversee products linked to food promotions and premium programs. By 1998, it was producing promotional toys for children's fast food franchises.
Bankruptcy, suicide, and auction
The company faced a severe financial downturn culminating in 2004 when CEO Bob Solomon took his own life amid the company's worsening fiscal situation. Shortly thereafter, Applause filed for bankruptcy protection. The Applause brand was subsequently purchased by Russ Berrie through a bankruptcy auction.
External links
- Applause Inc Fundinguniverse.com