Ideal had earnings of $3.7 million in fiscal year 1979–1980, but lost $15.5 million in fiscal year 1980–1981. Consequently, the company opened a new facility in Newark, New Jersey, in the early 1970s, while continuing to operate its factory in Hollis. The company wanted to build a new plant in College Point, Queens (later the site of Shea Stadium), but was unable to strike a deal with the Lindsay administration. īy 1970, Ideal had outgrown its manufacturing complex in Hollis, Queens. In late 1971, Ideal joined the New York Stock Exchange valued at $71 million, it was one of the U.S.'s top three toy companies. In 1968, the American Character Doll Company filed for bankruptcy, and Ideal acquired the defunct company's dyes, patents, and trademarks, as well as specific products like the " Tressy" Gro-Hair doll. Ideal CEO Abraham Katz was named president of the new company. The company was created to produce material for toys in Israel and the U.S. In 1951, Ideal partnered with its competitors the American Character Doll Company and the Alexander Doll Company to establish the United States-Israeli Toy and Plastic Corporation. Winkler joined Ideal in 1956, rising to vice president by 1971.
Weintraub, the son-in-law of Abraham Katz, joined the company in 1941 and rose to become president, chairman of the board, and chief executive officer. Key Ideal employees during the 1950s, '60s, and '70s were Lionel A.
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The company's dolls were so popular during the post–World War II baby boom era, they began selling dolls under license in Canada, Australia, the United Kingdom, and Brazil.
After Morris Michtom's death in 1938, the company changed its name to the Ideal Toy Company, and Michtom's nephew Abraham Katz became chief executive.ĭuring World War II, the company's value rose from $2 million to $11 million. Morris and Rose Michtom founded the Ideal Novelty and Toy Company in Brooklyn when they invented the Teddy bear in 1903. Original Ideal logo, 1938 Corporate history
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