Oriental Trading Company

American company

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Oriental Trading Company

Company type| Subsidiary
Industry| Direct marketing
Founded| 1932; 92 years ago (1932)
Founder| Harry Watanabe
Headquarters|

Omaha, Nebraska

Area served

| Worldwide

Key people

| Steve Mendlik, CEO[1]
Products| 40,000
Owner| Berkshire Hathaway

Number of employees

| est. 2,000[2]
Subsidiaries| MindWare Holdings, Inc.[3]
SmileMakers[4]
OTC Direct Inc.
Website| orientaltrading.com

Oriental Trading Company is a direct merchant of value-priced party supplies, arts and crafts, toys, novelties, and school supplies.[5] It was founded in 1932 as one of the United States' first wholesaling companies. Oriental Trading has been recognized as one of the top 100 Internet retailers and one of the top 50 catalog companies by the National Retail Foundation's STORIES magazine. It is based in Omaha, Nebraska, and is owned by Berkshire Hathaway.[6][7] Alternative known names for Oriental Trading Company include "Oriental Trading" & "OTC".

## History[edit]

The company was founded as a gift shop in 1932 in Omaha, Nebraska, by Harry Watanabe. The company expanded to 17 shops in the Midwest. During World War II, with restrictions against imports from Japan, the company shrank back to its Omaha base. Watanabe then bought a ceramic shop which made Kewpie dolls and other ceramic items.[8]

In 1954 it resumed its imports from Japan and was a major carnival supplier and in 1956 it launched its first catalog.[9]

In 1977 Watanabe's son Terrance Watanabe became president and its focus shifted from carnivals to supplying party goods for churches, schools, retailers, and individuals.[citation needed]

In 2000, Terrance sold his entire stake in the company to Los Angeles–based private equity firm Brentwood Associates, and resigned as CEO and President.[10] He became a philanthropist, but subsequently lost most of his fortune gambling in Las Vegas.[11]

In 2006, The Carlyle Group bought 68 percent interest in the company with Brentwood owning a reported 25 percent.[12]

On August 24, 2010, Oriental Trading Company via OTC Holdings Corp. filed for Chapter 11 bankruptcy protection. During the bankruptcy procedure, the company had plans to cut half of its $1 billion of debt. The company continued to operate normally during the process.[13]

On November 2, 2012, Berkshire Hathaway announced they would acquire the company.[14][15]

Oriental Trading acquired MindWare Holdings, Inc. in 2013 and SmileMakers in 2014. MindWare manufacturers and sells toys. SmileMakers sells to the dental and healthcare markets.[citation needed]

The company's CEO Sam Taylor appeared in the March 10, 2012, episode of the TV show Undercover Boss.[16] Taylor, who had been CEO since 2008, died after a year long illness in December 2017, and COO/CFO Steve Mendlik was named acting CEO in January 2018.[1]

## Notes[edit]

1. ^ a b Jordon, Steve (January 2, 2018), "Oriental Trading CEO who turned company into profitable part of Berkshire dies at 56", Omaha World-Herald
2. ^ "About Us | Oriental Trading Company".
3. ^ "Oriental Trading Company to Acquire SmileMakers" (Press release). 21 February 2014.
4. ^ "Oriental Trading Company Acquires MindWare" (Press release). 27 June 2013.
5. ^ http://corp.orientaltrading.com
6. ^ Wirz, Matt (5 November 2012). "Berkshire Buys Oriental Trading". Wall Street Journal.
7. ^ Roumeliotis, Olivia Oran (2 November 2012). "Warren Buffett buys toy and party-supplies company". Reuters.
8. ^ "About Oriental Trading". Oriental Trading. Retrieved July 6, 2014.
9. ^ "Oriental Trading". Retrieved 2017-01-19.
10. ^ "Metro/Region". Omaha.com. Archived from the original on 2013-01-30. Retrieved 2010-09-28.
11. ^ Weisenthal, Joe (December 6, 2009). "Meet The Man Who Blew $127 Million And Most Of His Family's Fortune Gambling In Vegas". Business Insider. Retrieved November 20, 2018.
12. ^ Oriental Trading Sold multichannelmerchant.com - June 13, 2006
13. ^ McCarty, Dawn (2010-08-25). "Oriental Trading Co. Files for Bankruptcy in Delaware". Bloomberg. Retrieved 2010-09-28.
14. ^ De La Merced, Michael J. (November 2, 2012). "Berkshire to Buy Oriental Trading Company". The New York Times.
15. ^ "Berkshire Hathaway to Acquire Oriental Trading Company" (PDF) (Press release). Berkshire Hathaway. November 2, 2012. Archived from the original (PDF) on 2012-11-19.
16. ^ Fastenberg, Dan (March 12, 2012). "Workers At Party Supply Company Far From Festive During 'Undercover Boss' Episode". AOL. Retrieved July 6, 2014.

## References[edit]

* "U.S. Bans Toyko[sic] Trader", The New York Times, Associated Press, August 4, 1959
* Creswell, Julie (July 21, 2010), "A Business Built of Kewpie Dolls Is Struggling to Survive", The New York Times
* "Product Recalls", Consumers' Research – via Gale (publisher) (subscription required), vol. 76, no. 12, p. 36, December 1993(subscription+required)+Category:Subscription+required+using+viaCategory:Pages+containing+links+to+subscription-only+content&rft.atitle=Product+Recalls&rft.volume=76&rft.issue=12&rft.pages=36&rft.date=1993-12&rfr_id=info:sid/en.wikipedia.org:Oriental+Trading+Company" class="Z3988">
* "Indiana Librarian Triggers Nationwide Toxic-Toy Recall", American Libraries – via Gale (publisher) (subscription required), vol. 37, no. 8, p. 12, September 2006(subscription+required)+Category:Subscription+required+using+viaCategory:Pages+containing+links+to+subscription-only+content&rft.atitle=Indiana+Librarian+Triggers+Nationwide+Toxic-Toy+Recall&rft.volume=37&rft.issue=8&rft.pages=12&rft.date=2006-09&rfr_id=info:sid/en.wikipedia.org:Oriental+Trading+Company" class="Z3988">
* "Oriental Trading Company Exits Chapter 11", Health & Beauty Close-Up, February 17, 2011, archived from the original on March 24, 2017
* Lead Poisoning Hazard Prompts Recall Of Metal Charm Bracelets, US Fed News Service, March 23, 2006, archived from the original on March 24, 2017

## External links[edit]

* Official website

* v
* t
* e

Berkshire Hathaway

Board of
directors|

* Warren Buffett
* Greg Abel
* Howard Graham Buffett
* Susan Decker
* David Gottesman
* Ajit Jain
* Ronald Olson
* Walter Scott Jr.

Insurance|

* Alleghany Corporation
* TransRe
* Berkshire Hathaway Homestate Companies
* Kansas Bankers Surety Company
* Berkshire Hathaway Specialty Insurance
* BoatUS
* Central States Indemnity
* GEICO
* Gen Re
* MedPro Group
* National Indemnity Company
* Berkshire Hathaway Assurance
* GUARD Insurance

Materials and
construction|

* Acme Brick
* Benjamin Moore & Co.
* Clayton Homes
* International Metalworking Companies
* ISCAR Metalworking
* TaeguTec
* Tungaloy
* Johns Manville
* Lubrizol
* Marmon
* Marmon-Herrington
* Procor
* Union Tank Car Company
* Precision Castparts Corp.
* Carlton Forge Works
* Special Metals
* Timet
* Wyman-Gordon
* Shaw Industries
* Mouser Electronics

Furniture|

* Jordan's Furniture
* Nebraska Furniture Mart
* RC Willey Home Furnishings

Clothing|

| Apparel|

* Fruit of the Loom
* BVD
* Russell Athletic
* Spalding
* Vanity Fair Brands
* Exquisite Form
* Vassarette

|

Footwear|

* Brooks Sports
* Double-H Boots
* Justin Brands
* Chippewa Boots
* Justin Boots
* Nocona Boots
* Tony Lama Boots

Transportation|

* Berkshire Hathaway Automotive
* BNSF
* FlightSafety International
* Forest River
* Marquis Jet
* McLane
* NetJets
* Pilot Flying J (80%)

Food|

* CTB International
* Dairy Queen
* Karmelkorn
* Orange Julius
* The Pampered Chef
* See's Candies

Media|

* Business Wire
* WPLG

Jewelry|

* Ben Bridge Jeweler
* Borsheims
* Helzberg Diamonds

Scott Fetzer|

* Campbell Hausfeld
* Ginsu
* Kirby
* World Book Encyclopedia

BH Energy|

* AltaLink
* HomeServices of America
* Edina Realty
* Long & Foster
* RealtySouth
* Kern River Gas Transmission Company
* MidAmerican Energy Company
* Northern Powergrid
* NV Energy
* PacifiCorp

Other businesses|

* Duracell
* Oriental Trading Company

Major public
company ownership
positions|

* American Express (18%)
* Apple (6%)
* Bank of America (12%)
* Coca-Cola Company (10%)
* DaVita (32%)
* Kraft Heinz (27%)
* Moody's (13%)
* RH (9%)

Related|

* Charlie Munger
* Poor Charlie's Almanack
* Blue Chip Stamps
* Wesco Financial
* Owned assets
* Becoming Warren Buffett

* Category

Authority control databases

International|

* ISNI
* VIAF

National|

* United States

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