LOL Surprise toys are some of the hot-selling toys that are preferred by children. They come under the bestseller lists, bringing in huge profits.
However, they are bringing in huge plastic wastes through their plastic bags and wrappings, especially as they are on the top-of-the-wish list item. Now MGA Entertainment making LOL items is trying t make up for the plastic wastes that come with the packaging.
CEO Isaac Larian of MGA Entertainment says that the company will be bringing down its plastic wrapping usage. Instead, it will wrap the toys with other materials that are more environment-friendly.
MGA Entertainment is pairing up with TerraCycle, a recycling company to cut down on wastage. The plastic paper and the plastic toys will be recycled and used again, says the company. The company has further plans for the recycling, which has not been announced as yet, says CMO Hailey Wu Sullivan.
Larian says that the LOL items are some of the top best-selling toys. They come in varying price ranges with as little as $5 to higher prices like $240. LOL Surprise has seven to 15 best-selling toys, says Larian.
The LOL toys are expected to bring in good revenue of more than $500 million for this year alone, according to analysts. MGA Entertainment owns Bratz too.
The company will be recycling the packaging material and the toys too. Customers can now pack both packaging and toys in a fitting box and ship them to TerraCycle. They will then be melted down and turned into pellets.
From 2020, the plastic packages are expected to be replaced by paper for the inner packaging of the LOL Surprise toys. Biodegradable plastic will be used from next year and the company is working on these plans, says Larian.
The company is planning for a sustainable environment by cutting down on plastic wastage from its packaging and toys.
