Nick Mowbray
Nicholas James Mowbray | |
|---|---|
| Born | Template:Birth year and age Cambridge, New Zealand |
| Occupation(s) | Businessman, entrepreneur |
| Known for | Co-founder of Zuru |
Nicholas James Mowbray (born March 1985) is a businessman and entrepreneur from New Zealand. Together with his brother Mat, he co-established the toy and consumer goods company Zuru.
Early life
Raised in Cambridge, New Zealand, Mowbray attended St Peter's School. His family operated a dairy farm along with the Matangi dairy processing facility. During his adolescence, he collaborated with his brother Mat to create hot air balloons using Coke cans and plastic bags. After completing secondary education, he briefly enrolled in law studies but discontinued shortly thereafter.
Zuru
In 2003, when they were 18 and 22 years old, the brothers relocated to Hong Kong to start a toy manufacturing venture. They secured a loan from their parents to purchase an injection molding machine and commenced operations in Guangzhou, China. Despite facing challenges such as limited experience, language barriers, and unfamiliarity with intellectual property regulations, they persisted. Their sister Anna became part of the enterprise in 2005.
Initially called Guru, the company changed its name to Zuru due to trademark complications. By the close of 2020, Zuru had a workforce of 8,500 employees spread across 26 offices and achieved an annual revenue exceeding $1 billion. Key products include Robo Fish, which was the fastest-selling toy globally in 2013, and Bunch O Balloons, which led US toy sales for three consecutive months in 2016. In 2018, Mowbray was honored with the New Zealand Entrepreneur Of The Year award by professional services firm Ernst & Young.
Personal
Diagnosed with Crohn's disease at age 26, Mowbray returned to New Zealand in his early thirties for major surgery after receiving warnings about a reduced life expectancy.
In 2017, the siblings acquired the Coatesville mansion located in Coatesville for NZ$32.5 million. This residence ranks among the most valuable homes in New Zealand and is notable for having been involved in a police raid in 2012 during Kim Dotcom's occupancy. The National Business Review estimates their combined net worth at NZ$3 billion. Towards the end of 2020, Mowbray purchased a 40-meter yacht valued at NZ$21 million.