Toymaker MGA Entertainment is not just focused on the biggest gift-buying holiday of the year but has its eyes set on a longer-term goal: sustainability in the toy manufacturing industry.
The company is currently using recycled materials to produce new products and is even encouraging customers to think green.
"We hit a lot of snags. People don't like to change. Factories don't like to change, but if there is a will, there is a way to do it. So far we have been successful," Isaac Larian, CEO and founder of MGA Entertainment, told Cheddar.
Last year, the company partnered with New Jersey-based recycling company, Terracycle, to make recycling its L.O.L Surprise! products and the packaging easier for customers.
"Just last month alone, over 25,000 toys were recycled, which is great," Larian said.
Those recycled toys are currently being used to make Little Tikes' Go Green line of toys. So far, the company has used more than 4 million pounds of recycled materials to create new products.
While MGA keeps sustainability in mind when creating new products, according to Larian, it isn't impacting the company's ability to deliver and keep kids satisfied.
"I've been in [the] toy business for 42 years. I see children today much more aware of sustainability and climate change than ever before, so that is great news for the future of this planet," he noted.
While sustainability may increase MGA's overhead, Larian said efforts to protect the environment are worth the price tag.
The federal tax collector said Monday that roughly 940,000 people in the U.S. have until May 17 to submit tax returns for unclaimed refunds for tax year 2020, which total more than $1 billion nationwide.
Allies of Florida Gov. Ron DeSantis and Disney have reached a settlement agreement in a state court fight over how Walt Disney World is developed in the future.
Ahead of the WNBA season and in the midst of March Madness, New York Liberty CEO Keia Clarke discusses the team’s new deal with Barclays and bringing even more attention to women’s sports.
U.S. Nissan head Jérémie Papin joins from the New York International Auto Show to give a preview of what’s to come from the carmaker – including the 2025 Nissan Kicks.
Ed Mitzen, the CEO of Business for Good, explains how and why he’s giving back by funding businesses from marginalized entrepreneurs to push social change.
Dana D’Auria, co-CIO at Envestnet, breaks down how she’s expecting markets to perform as ‘cracks’ from the rate hike cycle slowly filter into the economy.
A large cargo ship lost power and issued a mayday call moments before it struck the Francis Scott Key Bridge early Tuesday, though it was still moving toward the span at a rapid speed.
