Famosa, the toy group within the Giochi Preziosi family, expanded its footprint across Latin America, notably strengthening the Mexican subsidiary and lifting the stuffed animals category. The Alicante-based company achieved a near 10% sales gain across the year, reaching approximately 173 million euros. This rebound mirrors a recovery toward pre-pandemic levels after a dip in turnover in 2021 and subsequent supply-chain disruptions that affected the broader toy industry.
The latest consolidated balance sheet filed with the Trade Registry shows that, despite stronger revenue, the holding still faced red figures. Although losses narrowed markedly—by 69% from 14.5 million euros in 2021 to 4.5 million euros in the latest year—the group remains unprofitable at the consolidated level. Management notes that the reductions in losses come alongside tighter control of other costs, while the post-pandemic environment continued to press margins.
In the accompanying management report on the accounts, a clear driver of the results is cited: the rise in raw material costs, particularly plastics, coupled with persistent inflation and market uncertainty. These factors weighed on margins even as revenue recovered, underscoring the ongoing sensitivity of production costs to macroeconomic trends.
Export
Geographically, the company’s sales mix shifted with Spain showing a decline, decreasing from 77 million euros to 61 million euros. By contrast, international markets performed well, with overseas sales rising to about 112 million euros from 81 million euros in the previous year. When asked by this publication, the company highlighted stronger performance from its Mexican subsidiary, noting that flagship brands are seeing notable growth. Specifically, Nenuco grew by 37 percent in this market; Nancy rose by 62 percent; and Pinypon doubled its sales, underscoring the robustness of the brand portfolio abroad.
In Spain, Famosa confirms in its Non-Financial Information Disclosure that it remains the leading player, well ahead of primary rivals including Hasbro, Mattel, and Lego.
José Miguel Toledo (Famosa): «Our main goal now is to reduce our dependence on Asia»
About 54 percent of by-products turnover comes from the sale of 93.7 million dolls, the company’s core strength. Management emphasizes that the largest growth last year came from teddy bears, with sales rising from 19.3 million to 37.8 million, attributed to favorable performance of certain film licenses and TV series the company owns. Conversely, after-pandemic demand for health products and sporting goods declined by 28.9% to 20.9 million.
Supply tension and raw material costs push Famosa to report a loss
In its production disclosures to the Trade Registry, the company notes that about 69% of products sold are produced in China and Vietnam, with 29% manufactured in Spain and a remaining small share in Mexico. The average workforce last year stood at 549 employees, a reduction of 28 versus the prior year. Famosa traces its roots to 1957, founded by a group of Onil-based producers, and notes its corporate journey—from local ownership to acquisition by Sun Capital in 2010 and, in 2019, the transfer to Giochi Preziosi, the Italian multinational that currently steers the group.
Source attribution: company annual disclosures and management statements indicate the influences shaping performance and strategic focus.