Profile: Build-A-Bear Workshop Inc (BBW.N)
24 May 2013
Build-A-Bear Workshop, Inc. is engaged in providing a make your own stuffed animal interactive entertainment under the Build-A-Bear Workshop brand, in which the guests stuff, fluff, dress, accessorize and name their own teddy bears and other stuffed animals. The Company operates in three segments: retail, international franchising, and commercial. The retail segment includes the operating activities of Company-owned stores in the United States, Canada, the United Kingdom, Ireland, France and other retail delivery operations, including the Company’s Web store, pop-up stores and non-traditional store locations. The international franchising segment includes the activities under its franchise agreements with locations in Asia, Australia, Africa, the Middle East, Europe, Mexico and South America. The commercial segment includes its transactions with other business partners, mainly consists of licensing its intellectual property.
As of December 31, 2011, the Company operated 346 Company owned retail stores in the United States, Canada, the United Kingdom and Ireland, including 288 Build-A-Bear Workshop stores in the United States and Canada and 58 Build-A-Bear Workshop stores in the United Kingdom and Ireland. In addition, franchisees operated 79 Build-A-Bear Workshop stores in other international locations. It offers a selection of merchandise, including over 30 different styles of animals to be stuffed and a variety of clothing, shoes and accessories for the stuffed animals, as well as other brand appropriate toy and accessory items. Its stores average approximately 2,600 square feet in size and have a visual and colorful appearance, including custom-designed fixtures featuring teddy bears and other themes relating to the Build-A-Bear Workshop experience. In addition, its virtual world Website, bearville.com, promotes brand connection and in-store products and events with branded games, activities and social connectivity features.
Guests who visit Build-A-Bear Workshop stores enter a teddy bear themed environment consisting of eight stuffed animal making stations: Choose Me, Hear Me, Stuff Me, Stitch Me, Fluff Me, Dress Me, Name Me and Take Me Home. Its guests can also visit a Build-A-Bear Workshop store and purchase items, such as clothing, accessories, its Bear Buck and Cub Cash gift certificates, Bearville Outfitters game cards or pre-made animals in only a few minutes. It also offers a variety of animals and accessories on its e-commerce Website, buildabear.com.
The Company’s clothing includes authentic details, such as functional buttons, working pockets, belt loops and zippers and has child-friendly, easy-to-dress details, such as an opening for the stuffed animal’s tail and adjustable closures to help fit any size animal. It enhance the authentic nature of a number of its products with product licensing relationships with brands that are in demand with its guests, such as officially sanctioned NFL, NBA, MLB and FIFA team apparel, Skechers shoes and Justice clothing. It also tap into pop culture that is relevant to its guests by featuring merchandise, such as a Victoria Justice bear and accessories and Alvin and the Chipmunks and Smurf stuffed characters. It also offer frequent shopper discounts associated with its Stuff Fur Stuff club loyalty program and use coupons and gift-with-purchase promotions to drive traffic to its stores.
As of December 31, 2011, the Company operated Build-A-Bear Workshop stores in non-traditional retail locations, including six temporary locations, three League Baseball ballparks, one store located in the Saint Louis Zoo, one store at the St. Louis Science Center and one store located in an airport. Build-A-Bear Workshop stores are also operated by third parties under licensing agreements. Landry’s Restaurants operates Build-A-Bear Workshop stores within select Rain Forest Cafe and T-Rex Cafe locations.
The Company competes with Wal-Mart, Toys R Us, Target, Kmart, Ty, Fisher Price, Mattel, Ganz, Russ Berrie, Applause, Boyd’s, Hasbro, Commonwealth, Gund and Vermont Teddy Bear.
Build-A-Bear Workshop Inc
1954, Innerbelt Business Center
ST. LOUIS MO 63114-5719