Manny Stuhl, co-owner of Australian toy manufacturer Moose Toys, has won a prestigious global award for entrepreneurship.
Toy News and others report that Stuhl, the executive chairman of Moose – which he runs with his wife and stepson – beat an international field of 55 to win the Ernst and Young World Entrepreneur of the Year award in Monaco. Stuhl, who debuted on the BRW Rich List this year with an estimated family fortune of $1.24 billion, is the first Australian to win the award.
“We are a company that succeeds by focusing on innovation with integrity and a clear purpose to make children happy,” Stul is quoted by The Australian Financial Review as saying after winning the award.
“This has allowed us to grow exponentially, while overcoming huge challenges.”
The Melbourne-based company was bought by Stuhl in 2000, at which time it only employed around 10. It has grown to become a leading toy brand, and its Shopkins range is currently “outselling Barbie, Lego and My Little Pony” according to one article.
The company’s turnover is estimated at around $600 million.
Its success story is made more remarkable by the recovery it has made after being nearly ruined by a chemical scare and recall in 2007 involving its Bindeez craft toys.