Toy Giant Dodges Shipping Crisis, Pays Millions to Steal Beanie Babies
- The soft toy company said it was hijacking the crisis in ports by paying millions for air shipments.
- Ty has spent at least $ 225 million since October to fly his “Beanie Babies” from China to the United States.
- Ty’s owner said in a statement that the prices of the toys had not increased, even though the shipments were more expensive.
Toy giant Ty said it spent at least $ 225 million transporting its products from China to the United States to avoid congestion at container ports.
The plush company, which makes “Beanie Babies” and “Beanie Boos,” in October began using air freight to transport its goods from China, where they are made, according to a report. Press release On Monday.
He has so far paid for more than 150 cargo flights, which can cost between $ 1.5 million and $ 2 million each, he said.
An increase in consumer demand, combined with labor shortages, has created delays and congestion at seaports around the world, causing massive disruption of supply chains. The upheaval has boosted demand – and prices – for air freight, as retailers scramble to find other ways to get their wares off the shelves.
Although Ty pays more for shipping, company owner Ty Warner said he hasn’t raised the prices of his toys.
“The widely reported problems with global supply chains have cast a veil over the coming Christmas,” Warner said in the statement. “I am here to tell our customers that despite what they may have read or heard, Christmas is not canceled.”
The company ships its “Beanie Babies” and “Beanie Boos” from many airports in China, including Shanghai and Hong Kong, to Chicago’s O’Hare International Airport, where the products are then transported to corporate headquarters. Ty in town for later distribution, the statement said.