Hasbro
Hasbro, Inc., a global play and entertainment company, was founded on December 6, 1923, by brothers Henry, Hilal, and Herman Hassenfeld in Providence, Rhode Island. The company initially started as a textile remnant business, selling cloth leftovers. By the mid-1920s, they were using the remnants to make hat liners and pencil-box covers. After realizing the popularity of the covers, they soon began making the boxes themselves.
In the 1940s, Hasbro expanded its product line to include paint sets, wax crayons, and its first toys — doctor and nurse kits. In 1952, the company revolutionized the toy industry with the creation of Mr. Potato Head, the first toy advertised on TV.
Hasbro continued to grow and diversify its product line over the years. In 1964, it launched the first action figure, G.I. Joe. In 1984, Stephen Hassenfeld became CEO and chairman of the board, and the company became the country’s number-one toy maker with the purchase of Milton Bradley. In 1985, Hasbro united its four subsidiaries—Hasbro Toys, Milton Bradley, Playskool, and Playskool Baby—under the name Hasbro, Inc.
The company continued to expand through acquisitions and partnerships. In 1991, it purchased Tonka, and in 1995, it acquired the Laramie Corporation, makers of SuperSoaker brand water guns. In 1992, Hasbro acquired Nomura Toys Ltd. of Japan, and the controlling interest to Palmyra, a toy distributor in Southeast Asia.
Today, Hasbro is a publicly-traded company with a diverse portfolio of brands and products, serving customers worldwide. It is committed to making the world a better place for all children, fans, and families.
