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Discovery Toys

Discovery Toys is a multi-level marketing company specializing in educational toys.[1] Its products are sold in the U.S. and Canada, and its headquarters are in Livermore, California.

The company was purchased by Avon Products in 1997 and became a wholly owned subsidiary of Eos International in 2001.[2][3]

History

Discovery Toys was founded as a multi-level marketing company in 1978 by Lane Nemeth,[4] a former daycare director, with a $5,000 family loan.[1][5] Lane, a mother from the San Francisco bay area, started the company when she was unable to find educational toys for her own children.[6]

According to Nemeth, the company had 2,500 sales "consultants" in 1982 and had reached $4.6 million in revenue the previous year.[7] Ms. Nemeth grew the company to a $100 million in annual revenue by 1997 then sold the company to Avon[8] who sold it in 2002 to a private equity group. Discovery Toys was acquired by and became a wholly owned subsidiary of Eos International, Inc. in July 2001.[1][9]

One of the company's top selling toys is Marbleworks. Released in 1982, it consists of colorful, sloped, plastic half-pipes of different designs. The individual pieces interlock, creating a track on which marbles are run.[10] Marbleworks was included in Discovery's product line when Discovery Toys expanded into China in 2003.[11]

External links

References

  1. Eos International, Inc. Form 10-K (2001) U.S. Securities and Exchange Commission, retrieved February 23, 2020^
  2. Avon to Buy Discovery Toys Los Angeles Times, 1997-01-23, retrieved 2022-12-08^
  3. Clifford Carlsen. Discovery Toys opens its door to Avon offer www.bizjournals.com, 1997-02-16, retrieved 2022-12-08^
  4. Andrew Adam Newman. For Pet Owners, Too, Toys a Reason for Concern The New York Times, 2007-12-22, retrieved 2022-12-08^
  5. Nancy Rutter. Greer vs. Nemeth Inc., July 1, 1990, retrieved December 8, 2009^
  6. Carolyn Said. Bay Area toy makers put modern twist on classics SFGATE, 2011-12-18, retrieved 2022-12-14^
  7. Steve Kaufman. Entrepreneur's sales thrive from educational toy parties Boca Raton News (Knight Ridder), November 7, 1982, retrieved December 8, 2009^
  8. Coco Masters. Let's Pawty! Time, April 4, 2005, retrieved December 8, 2009^
  9. EOS INTERNATIONAL $6.5 MILLION SHORT TERM NOTES EXTENDED www.sec.gov, retrieved 2022-12-08^
  10. McFarland Matt. The childhood toys that inspired female engineers and scientists The Washington Post, 2013-12-09, retrieved 2022-12-14^
  11. Kathy Chen. Discovery Toys Will Launch Its Toys and Games in China The Wall Street Journal, 2003-09-24, retrieved 2008-08-19^