Isaac Larian facts for kids

Isaac Larian (Persian: اسحاق لاریان, born March 28, 1954) is a very successful businessman. He was born in Iran and is now an American citizen. He is the founder and CEO of MGA Entertainment. This company is one of the biggest privately owned toy companies in the world.

Early Life and Education

Isaac Larian was born into an Iranian Jewish family. His family lived in Kashan, Iran. When he was four, they moved to Tehran. His father owned a small fabric shop. Isaac started working there when he was only nine years old.

In 1971, at age 17, Isaac came to the United States alone. He was looking for new opportunities. He had only $750 and could not speak English. He found a job washing dishes. He then worked as a busboy and a waiter.

After working for a year, Isaac started college. He first went to Los Angeles Southwest College. Then he transferred to California State University, Los Angeles. He earned a degree in civil engineering in 1978.

Starting His Business

Isaac had planned to go back to Iran. But the 1979 Iranian Revolution changed his plans. So, he started a mail-order company. It was called Surprise Gift Wagon. This company sold decorative brass items from Asia.

When that business didn't work out, he tried something new. He focused on importing electronics. He worked with his brother Fred. Their company was later named ABC Electronics.

In 1987, Isaac and his brother became a distributor for Nintendo. This meant they helped sell Nintendo products. In 1993, they got a license for the "Power Rangers" toys. Their company then changed its name to MGA Entertainment. By 1997, they focused mainly on toys. Their first big success was the Singing Bouncy Baby toy.

MGA Entertainment's Success

In 1998, Isaac officially changed his company's name to MGA Entertainment. In 2001, MGA created the famous "Bratz" doll. By 2005, Bratz dolls were incredibly popular. Their sales reached $800 million. This was much higher than their main competitor, Barbie dolls.

There was a big legal disagreement between MGA and Mattel. Mattel makes Barbie dolls. MGA won a large amount of money from Mattel. This was because Mattel had done some unfair things. For example, Mattel was found to have spied on MGA's sales team. They also tried to make Bratz dolls less visible in stores.

In 2006, MGA bought Little Tikes. This company makes toys for toddlers and preschoolers. In 2010, MGA released another very popular doll line. These dolls were called "Lalaloopsy".

Trying to Save Toys "R" Us

In March 2018, Isaac Larian tried to buy Toys "R" Us. The toy store chain was going out of business. Isaac started a GoFundMe campaign. He put $200 million of his own money into it. His goal was to raise $1 billion. He wanted to buy some of the Toys "R" Us stores.

On April 13, 2018, Isaac made an offer of $890 million. He wanted to buy 274 Toys "R" Us stores in the US. He also wanted to buy 82 stores in Canada. He hoped to keep the famous toy store alive.

Personal Life

Isaac Larian is married and has three children. He lives in Los Angeles, California.

He has received important awards for his business success. In 2004, he won the Ernst & Young Entrepreneur of the Year Award. He won it for consumer products. In 2007, he was named the overall national Ernst & Young Entrepreneur of the Year.