BUILD-A-BEAR SPOTLIGHTED AS INNOVATIVE AND DISRUPTIVE INDUSTRY LEADER
Build-A-Bear Workshop (NYSE: BBW) has reported its most profitable fiscal year in 2022, following a record in 2021. This performance stems from a strategic transformation into a digital, multi-channel company capitalizing on its brand equity. The company now targets a broader market, with 40% of sales to teens and adults. Additionally, Build-A-Bear has expanded its product offerings beyond its iconic bears, introducing pet toys and gift options. Notably, they are leveraging e-commerce and have ventured into Web3 with digital collectibles. Revenue reached $467.9 million in fiscal 2022, showcasing sustained growth and a strong market position.
- Record-breaking profitability with revenue of $467.9 million in fiscal 2022.
- Continued growth in multi-generational brand appeal, with 40% of sales to teens and adults.
- Successful strategic transformation into a digital, multi-channel company.
- Expansion into new product categories beyond plush toys and introduction of the 'Bear Cave' for adult consumers.
- Strong focus on e-commerce with significant digital transformation initiatives.
- Introduction of engaging content and digital collectibles in the Web3 space.
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"These relationships coupled with the disciplined execution of our multi-year strategic plan have enabled us to begin to successfully recognize the brand value to an older addressable market beyond kids with
Leveraging a Multi-Generational Brand with Broad Demographic Appeal
Build-A-Bear has become a multi-generational brand appealing to diverse consumer demographics including teens and adults now representing nearly
Expanded Product Selection Beyond Bears
Build-A-Bear also now offers multi-dimensional product categories ranging from recently announced expansion into pet toys, matching family pajamas, gift-giving including its innovative personalized HeartBox collection, as well as collectible stuffed animal products, many of which are in collaboration through its best-in-class licensed relationships.
Evolving Retail Locations
The company has strategically shifted its location strategy beyond traditional malls to include non-traditional, tourist and destination locations that now account for approximately
Accelerated Digital Transformation and Entrance into Web3
As a brand known for providing in-person, one-on-one experiences, establishing a meaningful and growing e-commerce channel required a complete strategic shift by Build-A-Bear, and diversification into digital was necessary to prosper through the disruptive macroeconomic environment.
Build-A-Bear has significantly expanded its e-commerce demand with initiatives to accelerate its comprehensive digital transformation, including a recent update to a mobile-first website, with the goal of driving engagement and providing meaningful online experiences to guests by staying true to its vision to remain an experience retailer.
In addition, with the recent move into the Web3 space with digital collectibles and online Build-A-Bear Tycoon game on Roblox, Build-A-Bear continues to successfully expand its multi-channel, multi-dimensional business model.
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Build-A-Bear's strategy includes monetizing its powerful brand and reaching consumers with engaging content and communications including its more than 20 million first-party data contacts. The company's subsidiary,
In 2023, a highly anticipated documentary from award-winning director
Separately, Build-A-Bear offers a streaming music channel on iHeartRadio called Build-A-Bear Radio, which is consistently one of the top spots for popularity with family demographics.
About Build-A-Bear®
Build-A-Bear is a multi-generational global brand focused on its mission to "add a little more heart to life" appealing to a wide array of consumer groups who enjoy the personal expression in making their own "furry friends" to celebrate and commemorate life moments. Nearly 500 interactive brick-and-mortar experience locations operated through a variety of formats provide guests of all ages a hands-on entertaining experience, which often fosters a lasting and emotional brand connection. The company also offers engaging e-commerce/digital purchasing experiences on buildabear.com including its online "Bear-Builder", the animated "
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