Beanie Babies Nostalgia Revival
jason reynolds@joeylicorice
The idea
I think the Beanie Baby revival is a sign of a bigger collectibles boom, not a one-off fad, so this take owns the public companies that profit either way. It spreads across three layers: toymakers and character IP behind the next craze, the resale marketplaces resellers rely on to buy and flip, and the discount and big-box retailers where plush sells in volume. No single name dominates, and a larger cash reserve stays on the side since trends like this can fade as fast as they spike.
What it owns
- The companies that make collectible toys and own beloved characters sell the new versions when nostalgia comes back. · Build-A-Bear Workshop, Inc.It manufactures and sells plush directly to both children and adults, positioning it to benefit if collector interest in stuffed animals expands beyond traditional age groups., Mattel, Inc.It owns retro brands it can relaunch when nostalgia is hot, the same instinct behind the Beanie Baby comeback., Hasbro, Inc.It earns substantial revenue from collectibles like Magic: The Gathering, which shows grown-ups pay up for collectible toys and cards., The Walt Disney CompanyIts characters are a big part of what kids and adults hunt for in plush and collectible toys., Funko, Inc.It makes almost nothing but collectibles, so it is the purest public bet on people buying toys to display and resell., JAKKS Pacific, Inc.It makes licensed toys and plush for big brands, a small company that can move a lot when a toy craze takes off.38%
- When old collectibles get hot again, the money changes hands on resale sites and the tools resellers use. · eBay Inc.It operates the largest resale marketplace for collectible toys, so trading volume in Beanie Babies and similar items flows through its platform., Etsy, Inc.Its vintage section is a natural home for Beanie Babies and nostalgic toys from the nineties., GameStop Corp.It has been leaning into trading cards and collectibles in its stores, which makes it a play on the hunt-and-flip crowd., Shopify Inc.A lot of resellers run their own shops on its platform, so more toy flipping means more storefronts and sales flowing through it., PayPal Holdings, Inc.It handles payments for a huge number of person-to-person resale deals, so busier collectible flipping means more money moving through it.31%
- Cheap trend toys and plush move in volume through discount and big-box shops. · Five Below, Inc.It stocks trend toys and collectible blind-box items across its store network, capturing impulse purchases from its core young-adult customer base., Target CorporationIts toy aisle is a hunting ground for collectors and resellers chasing new plush and collectible drops., Walmart Inc.It sells more toys than almost anyone, so if plush and collectibles boom, a lot of that volume runs through its stores.19%
- Cash12%