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Accelerating
Out of the Learning Curve
RaceBricks Anticipating a Winning Year in
2007
January 23, 2007
When
RaceBricks
broke into the licensed business two years
ago, many viewed the company as a one-trick pony. Its original
product—a unique, laser-generated 3-D collectible—attracted
oohs and ahhs universally from buyers and retailers. The
price point, however, had a different effect, limiting the
RaceBricks audience to high-end customers only. The company
recognized this and did something about it.
“2006 was a learning curve year for us,” says
RaceBricks CFO Charlie Yacoobian. “We were devoted
to increasing our product selection.”
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To that
end, RaceBricks introduced several new items at a variety
of price points, including lighted keychains ($12.99), picture
bricks ($24.99), signature bricks and corporate logo bricks
(both around $20). The response, says Yacoobian, was amazing.
“We had various retailers jump on board immediately,”
he explains. “By rounding out our line with lower
price points, we’ve discovered a nice ‘impulse
buy’ niche. Our original RaceBricks, meanwhile, have
become very popular as birthday, Fathers Day and holiday
gifts.”
Not surprisingly, the company has found its most receptive
market in the Southeast. What Yacoobian didn’t expect
was the success RaceBricks is enjoying north of the U.S.
border. This, of course, is thanks in part to the creation
of the NASCAR Canadian Tire Series, a schedule of 10 to
12 races set to debut this May. Like many in the industry,
NASCAR’s expansion has Yacoobian thinking even bigger.
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“With
Juan Pablo Montoya now on the circuit, I’m wondering
about the South American market,” he says. “NASCAR
already has a Busch series race in Mexico City.”
For now, though, Yacoobian is satisfied to concentrate on
North America. He expects 2007 to be a strong year for RaceBricks.
“We offer excellent products at all price points,”
he says. “And RaceBricks appeal to a wide demographic
of NASCAR fans, including women.”
