With two girls under six in my house, Silly Bandz are all the rage. According to the Wall Street Journal, they’re the latest little kid fad, and earning they’re maker big-time revenue:
BCP Imports LLC, maker of the Silly Bandz bracelets that have become an accessory de rigueur on elementary school playgrounds, is the latest small company looking for a way to extend its appeal with pint-sized customers.
Retailers selling the packs of 24 bracelets for $5 to $7 a pop cannot keep them in stock, and the company has had to hire more than 350 employees since October, according to founder Robert Croak. Silly Bandz have generated more than $100 million in annual sales, he says.
The kids can’t get enough. As parents, we use them as incentives to get ours to do what they otherwise find difficult (practicing piano, putting away toys, etc.). Everybody seems reasonably happy with our very local economy. When this fad dies, our currency will crash. Of course, they’ll be another.