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Stephen Wong

Grand Award
Innovation and Creativity
Toy2R Holdings
Toy2R captured the grand award  in the innovation and creativity category.
'We have won many different international prizes before,  but this prize is the most important  because we competed with companies from different industries.  This prize affirms the way we run the business,' said Raymond Choy,  founder and president of Toy2R.
The company is widely credited as an important  player in spreading the designer toy phenomenon worldwide.
Mr Choy said innovation was  not just about product design  but also about changing the business model to continue to grow and to stay ahead of competitors. 'I didn't set out with a grand strategy but, like other Hong Kong people, I am quick and nimble in running my business,' he said.  'I also like to ask questions so that I can learn more from others. Not only that, I always ask   myself why I like a particular toy.'
After working for a United States footwear importer on the mainland  for 10 years,  he set up a small toy shop in Mong Kok in 1995.
'Initially, I differentiated myself as one of the first  to go to Japan to source toys,' he said. 'It was good until copycats moved in and compressed the margins in 1998/99.  So I moved to Tsim Sha Tsui and started to carry United States toys as well. I was one of the rare adult toy shops to carry retro toys, Japanese toys, as well as US toys. I differentiated myself by the diversity of toys I carried. I also carried limited editions of some US toys, such as the Living Dead Doll  by Mezco.  I think all  of this helped me to build the foundations to branch out with my own brand globally later on.'
In 1999, as a prelude to his own global brand,  Mr Choy made a company mascot called the Toyer. It was a skull-like figure in a cute human form. In order to compete with other more established designer toys,  he focused on pricing and  innovations of product materials.
'We were the first  globally to use the new materials which glow in the dark,' he said.
Since 1999, the company has grown  a 100 fold. In 2001,  he  closed his toy store to focus on his own brand. He decided to go into the mass market in 2002 with a new vinyl toy called Qee, which was smaller in size and more affordable in pricing.
This became an instant success.  There are 18 models of Qee, all of which are patented. Qee can be transformed into a key-chain, which   is also patented.
To encourage innovative designs,  Mr Choy  created an open platform for the designs on the Qee. He has been working with world-renowned artists, designers, global brands  and others  at exhibitions.



Playing with innovation pays off for toy company