We lost another of the toy industry’s true icons this week, when Alan Hassenfeld passed away at the tender age of 76. What can I say that hasn’t been said elsewhere: he was a legendary toy man for sure – his vision and passion were key factors in the rise of Hasbro. But those who knew him well, especially in later years, will appreciate that it was his kindness, generosity and unwavering commitment to philanthropic causes that truly defined him as an amazing human being. I loved that he always had time for you, no matter where you were in your career path – he would stop and talk to me long before I was a ‘someone’, and I will certainly miss those chats at Toy Fairs around the world. I last saw Alan at this year’s TOTY award ceremony in New York, where he presented an award with friend and former colleague Neil Friedman. They made an entertaining double act – Alan looked happy and well and was on great form. Gary Grant described him as a “leader, mentor and friend” – Alan even flew all the way from the USA to attend Gary’s 60th birthday lunch. We’ve lost a truly great man and a toy legend, and I am honoured to have known him.
When you hear news like that, it does rather put everything else that’s happening – both in and out of the world of toys – into perspective. I never spoke to Alan about the tariff situation, but I am pretty sure I can guess what he would have thought of it. First we had so-called Liberation Day back in April (even though it was anything but…), followed by Deliberation months, culminating this week in Prevarication Day, or TACO Wednesday if you prefer (if you subscribe to the acronym that Trump Always Chickens Out). Basically, the 90-day tariff pause officially ended a couple of days ago, not with a bang but a whimper. Entirely predictably, the promised ’90 deals in 90 days’ failed to materialize. So, now it appears that the ‘deadline’ to settle tariff rates for trading partners has been extended to August 1st, with the distinct possibility of further extensions. As long as this means that Chinese tariffs are still on pause, I guess everyone’s a winner.
In the meantime, letters have been sent to some countries informing them of their tariff rates, which bear a striking resemblance to the numbers scribbled on that infamous whiteboard at the start of this whole fiasco. Essentially, we seem to be right back where we started a few months ago. Crucially, China wasn’t on the list of countries that received a letter, so the toy community waits with bated breath to see where that number lands. The answer will have major short-term repercussions for everyone connected with toys across the globe.
But when we will get a definitive answer to that question is anyone’s guess.
Read the rest here.
