Jump to content

Galoob

From Wikipedia, the free encyclopedia
Lewis Galoob Toys, Inc.
IndustryToys, Consumer electronics, video games
Founded1957
FounderBarbara Galoob Frankel
Lewis Galoob Edit this on Wikidata
Defunct1958 (England)
1998 (as a toy company)
FateClosed, properties and brand name sold to Hasbro.
ProductsToys, video games, consumer electronics

Lewis Galoob Toys, Inc., was a toy company headquartered in South San Francisco, California.[1] They are best known for creating Micro Machines, which accounted for 50% of its sales in 1989,[2] and distributing the Game Genie in the United States.

History

[edit]

Lewis Galoob Toys was founded in 1957 by Lewis Galoob and his wife, Barbara Galoob, as a small distributor of toys and stationery. Galoob's first toy success was the reintroduction of a battery-powered Jolly Chimp, a cymbal-banging monkey toy that nodded his head when activated.[3] The company was incorporated in 1968.[3]

In 1970, Lewis Galoob became too ill to continue as president, and his 21-year-old son, David, dropped out of the University of Southern California to take over the family business. In partnership with his brother, Vice-President Robert Galoob, David aggressively pursued new product development, and transformed the company into a $1 million business by 1976.[3]

In 1984, Galoob attempted to acquire the World Wrestling Federation (WWF) toy license, but lost out to LJN.[4]

The company was greatly affected by the financial collapse of Black Monday in 1987, a year in which it lost $25 million, but the following year it recovered by generating a profit of $6 million.[2] By 1988 the company manufactured 85% of its toys in China.

Galoob was involved in a landmark intellectual property lawsuit, Lewis Galoob Toys, Inc. v. Nintendo of America, Inc.,[5] over the Nintendo Entertainment System version of the Game Genie. Nintendo charged that the Game Genie violated copyright by creating an unlicensed derivative of their copyrighted games. Galoob won the lawsuit and continued to produce the Game Genie.

In September 1998, American toy giant Hasbro purchased Galoob for $220 million.[6] Today, Galoob is a Hasbro brand name. The name began appearing on retail products starting in 2005. Hasbro has used the Galoob brand logo on its Titanium Series die-cast metal collectibles, including various items from Transformers, Star Wars, and Battlestar Galactica.

Franchises licensed to Galoob for merchandising

[edit]

References

[edit]
  1. ^ "Feedback." Galoob. February 13, 1998. Retrieved on April 26, 2010.
  2. ^ a b "Lewis Galoob Growing Big By Thinking Small : Toys: The company's miniature cars and dolls have become top sellers. Now it is striving to become a major player". Los Angeles Times. Associated Press. 4 December 1989. Retrieved 13 January 2021.
  3. ^ a b c "Lewis Galoob Toys Inc. History". Funding Universe. Retrieved 22 November 2015.
  4. ^ Nacelle Company (2020-05-04). The Toys That Made Us - Season 3 (Wrestling Figures). Retrieved 2024-11-14 – via YouTube.
  5. ^ Lewis Galoob Toys, Inc. v. Nintendo of America, Inc.,964 F.2d 965; 1992 U.S. App. LEXIS 11266; 22 U.S.P.Q.2D (1992) online copy Archived 2006-01-13 at the Wayback Machine
  6. ^ Fost, Dan.Hasbro Adds Galoob to Its Toy Chest". San Francisco Chronicle. Tuesday September 29, 1998. Retrieved on April 25, 2010.
[edit]
Retrieved from "https://en.wikipedia.org/w/index.php?title=Galoob&oldid=1257391845"