Mighty Jaxx, formed in 2012 in Singapore, opened a UK subsidiary last year and has already seen its collectibles booming in the UK and Europe.
Toy World caught up with MD for Europe, Alex Neal, about how Mighty Jaxx found its feet in the new continent.
The company was founded by Jackson Aw, an avid toy collector since his teens. Jackson took a tour of toy factories in Shenzhen, China, to learn about the process of making toys before collaborating with Singaporean graffiti artist Clogtwo to produce Hell Lotus, a collection of 200 units which quickly sold out following its debut at Singapore Comic Con. Over the next three years, Jackson secured licences with DC Comics, Netflix, Adidas, Hasbro, Formula One and Sesame Street, increasing revenue by 71% between 2019 and 2021.
Today, Mighty Jaxx creates high-quality, limited-edition collectible figures across a range of partner franchises at a variety of price points, including Stranger Things, SpongeBob SquarePants, Hello Kitty and One Piece. The company also has its own IPs, teaming up with top independent artists from around the world. Through both its premium art ranges and series collectibles, Singapore-based Mighty Jaxx has grown from a $20,000 startup in 2012 to a multi-million-dollar company with distribution in over 60 countries. Top retail stockists in the UK include Amazon, HMV and Selfridges.
Alex joined the company as MD for Europe over a year ago. While looking for a new job, he reached out to Jackson who pitched the business to him, and Alex was hooked. He admitted: “Mighty Jaxx was by far the most exciting proposition on the table. It was refreshing to meet a passionate founder who really understood the collectibles business and had firm plans for the direction of the company. I came on board to set up the European division and in March last year, we established a company here in the UK.”
The first shipments of product were a success across Europe from the very start. Alex brought in the first wave of stock to coincide with October’s New York Comic Con, where Mighty Jaxx received almost immediate recognition from international traders and consumers alike, and word soon spread.
The European division has secured partnerships with both independent and larger retailers, not only toy shops, but fashion and lifestyle stores too. “It’s been incredible,” Alex told us. “We’ve had huge growth owing to getting the word out and educating Europe on what we do and what we can bring to the market that’s different. Not one retailer, not one licensor and not one distributor has said that they’ve seen it before. It’s a niche range but it crosses over into the mainstream too, which enables us to work with a selection of retailers that not all toy brands can operate in.”
To read the full feature with Alex Neal, click here.