1966: “You Can’t Build a Business on Fads.”

More of my searching for “Bernard Loomis” resulted in this November 24, 1966 article from the Bend, Oregon newspaper, The Bulletin in which we get the annual look at the toy industry. Christmas always bring us these kinds of stories, and this time around the story (again) focuses on what kids want for Christmas. G.I. Joe gets a mention, but the real star of this article has to be the Bernie Loomis wisdom:

“You always have to watch for return to the basics,” said [vice-president for national sales at Mattel, Bernard] Loomis. “You can make a buck, but you can’t build a business on fads.”

Maybe so, Bernie, but as you yourself taught all of us over the years: You can build a business on a mix of the basics plus capitalize on the latest fads. The trick is in getting out of a “fad” line or brand before getting buried in unsaleable product. Bionic Man, Star Wars, and Strawberry Shortcake all treated Kenner well under Loomis’ direction . . . at the exact same time that Easy-Bake Oven and Spirograph were also bringing in big bucks.

Basics + Fads = Success!

I love these old newspaper articles.

Related articles

• Affiliate Link – A History of the Easy-Bake Oven (battlegrip.com)
• Toymakers, the Economy, and Bernie Loomis in 1981 (battlegrip.com)
• Spotted Online – Early Star Wars Cantina Playset Prototype Pic (battlegrip.com)