32-Year-Old Man’s Love For Toys Led Him to Found Business Worth Millions of Dollars
- A 32-year-old man who started collecting toys at the age of 17 has turned his passion into a massive business empire
- Jackson Aw from Singapore founded Mighty Jaxx in 2012 and has gone on to notch up deals with prominent firms including Netflix
- Aw said he launched the first toy collection with a $20,000 loan in 2012 which has gone to sell out within six months
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After watching a series of ‘how-to videos’ on Youtube, Jackson Aw from Singapore decided to try something with his hands.
The CEO of Might Jaxx, a toy-making company said he looked at his shelves and wondered what he could make with his hands, leading him to start what will become a multi-million dollar toy company with investments from prominent individuals and businesses.
Source: UGC
Aw founded Mighty Jaxx in 2012 and has partnered with some of the biggest names in visual arts which produces trendy collectables that combine pop culture and creativity.
The toys have gone on to sell millions of collectables in 80 countries around the world, according to Aw.
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A trip to China changes everything
The 32-year-old entrepreneur said the videos he watched gave him an idea that he could make something with his hands, prompting him to take a trip to China to see how toys are made.
According to CNBC, his inquisitiveness turned into amazement as learned about the technicalities of toy-making like hand-sculpting and moulding.
What he saw made him look naïve as he had thought that there were huge industrial machines that made toys.
He was rather shocked when he saw hundreds of people crafting and painting toys on what many will think are mass-produced products.
What he saw inspired him and he returned to Singapore after one month to make his own designer toy with graffiti of Singaporean origin, while collaborating with a local artist, Clogtwo.
They both created the company’s first collection, the Hell Lotus. Using a $20,000 loan, they produced 200 pieces of the toy which they launched at the Singapore Comic Convention in 2012.
The entire collection sold out in 6 months and there was no going back, he says and felt that there was no need to be afraid.
Collaborations, collaborations and more collaborations
Over the course of seven years, Might Jaxx continued to collaborate with visual artists from across the globe to make unique, limited-edition while the company maintained a healthy balance sheet.
Aw said that the company has gone on to bring in more collaborators with known brands in order to reach their fans around the world, from Adidas, Hasbro and Nickelodeon, including Formula 1.
Those partnerships allowed Aw to produce more on a larger scale and at lower prices which made them available to fans.
From DC to Netflix
Those collaborations allowed Aw to produce collectables on a wider scale and at lower prices, making them more accessible to fans.
The company has gone on to raise about $40 million with the company valued at over $200 million with investments from Tencent, KB investment and East Ventures.
Student makes N290.5 billion yearly creating bags she started as side business
Legit.ng reported that two years, ago MBA student, Wilglory Tanjong from Senegal, launched her bag business for fun.
Now, she sells her bags everywhere, including Nordstrom and Revolve, and this got pop singer, Beyonce to endorse her bags on Instagram.
Amina Iris, as her bag business is known, has made over N290.5 billion in lifetime revenue since launching in 2020 with about N250.5 million in 2021 alone. Her company has recently earned about N41.5 million in revenue every month.
Source: Legit.ng
