Beanie Babies founder Ty Warner unveiled a new plush toy that he hopes will capture kids’ hearts – and parents’ wallets.
The so-called Beanie Bouncers, a 4-inch, plush toy with a ball inside that can bounce as high as 50 feet, will hit shelves next month with a price tag of $5.99, Warner told The Post exclusively in an email.
“This is a totally new product that has never been seen or manufactured before,” the reclusive billionaire said Wednesday.
Warner founded his collectibles company Ty Inc. more than three decades ago, sparking a frenzy for the wildly popular stuffed animals.
Warner declined to disclose what’s inside the plush toys – “that’s a secret,” he said. But he has a worldwide patent pending on the product and is prepared to “sue” those who might copy or infringe on the plush balls, he said.
Beanie Bouncers come in 12 animal characters, including Gilbert the giraffe, Fins the shark and Purry the cat.
They are coming out at a time when the industry is struggling to ignite growth and interest in traditional toys.
Overall, US toy sales plummeted 8% to $28 billion last year and that was on top of an anemic growth in 2022 when sales rose just 1%, according to Circana data.
This month, a stalwart of the industry that makes Tonka Trucks, Care Bears and Lite Brite – Basic Fun – filed for bankruptcy protection and industry experts are concerned that others could follow-suit.
Earlier this year, Monopoly and Power Rangers maker Hasbro said it expects sales declines of up to 12% this year and it has made significant cuts to its workforce.
Meanwhile, for the first time ever, toy demand from preschoolders was surpassed by demand from adult toy collectors in the first quarter, according to data from Circana.
Warner, who also owns luxury hotels including the Four Seasons in Midtown, blames the industry for a lack of creativity, but concedes that kids today are too enamored with technology.
“The industry is lethargic, risk-averse,” he said in an email, adding that “innovation is non-existent and nobody wants to take a risk with something not proven.”
And times have changed since the 79-year-old was a tyke.
“When I was a kid, I love to play ball every chance I got. Today, kids play with tech, sitting down, mostly inside.”
Over the years, Ty Inc. has expanded its product offering beyond the bean-filled toys to include animal-themed purses, slippers, slides, pillows and key chains.
The meteoric rise of the partially filled plush toys generated sales of $1.4 billion in just five years after Beanie Babies came out in 1993, making Warner a billionaire.
He created demand for the $5 toys by retiring certain styles that eventually sold for as much as $5,000 on the secondary market.
But all of that demand fizzled by 1999 and the Beanie Babie craze rise and fall was documented in an unflattering movie last year “The Beanie Bubble” which Warner claims was largely fictional.
Beanie Bouncers are the antidote the industry needs right now, Warner said in a press release today.
“You can toss, catch, bounce, roll, kick bowl and collect,” them, he said in a statement. It’s a great way to get kids out of the house and away from screens.”