Zuru already does $400 million in sales. But toys were just Phase 1 by Noah_Kirsch
a 12-bedroom mansion in Coatesville, New Zealand. It’s the former abode of cyber-renegade Kim Dotcom, and it’s here that Dotcom was arrested by heavily armed police in 2012. Life is quieter for Mowbray, 34, and the sun is shining on his 2,000-bottle-a-year vineyard as he explains what affords him this lifestyle: a fast-growing toy company called Zuru that he runs with his siblings Mat, 38, and Anna, 36.
“We would do everything in our business to make it more and more and more profitable, which to me is the whole reason of building a business,” says Nick, who serves as co-CEO with his brother Mat. Their sister Anna is more circumspect. “Being Kiwis, we’re quite humble,” she says. “But it’s definitely been an amazing journey.”Zuru began as a pet project. At 12, Mat designed a model hot-air balloon kit that won a national science fair in New Zealand.
Following the upheaval, the Mowbrays began paying to distribute toys to international markets, like spinning rubber discs and a helicopter-shaped boomerang from a Hong Kong company, Zing. Eventually, in search of bigger paydays, they refocused on producing toys of their own. More turbulence followed. In 2005, the siblings partnered with a Chinese manufacturer and paid $1 million for the rights to a handheld video game player in which users could play as the soccer star David Beckham.
Still, some of the company’s products bear an eerie resemblance to those of competitors. Zuru’s Dart Blasters, of which it ships 35 million per year, look a lot like Nerf’s guns. There’s also Metal Machines, which challenges Hot Wheels, and a line of plastic figurines similar to Legos. Last December Lego filed a lawsuit alleging that Zuru’s figures “are confusingly, strikingly and substantially similar.” The litigation is ongoing.
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