The Foundr Podcast with Nathan Chan 560: The College Dropout Who Built an $11 billion Toy Empire | Nick Mowbray (Best of Foundr) [VIDEO]
Apr 18, 2025
Nick Mowbray, co-founder of ZURU, shares his journey from backyard balloon projects to creating a $11 billion toy empire. He discusses living frugally in China for seven years to build his business and the tough lessons learned, including a significant lawsuit. Mowbray emphasizes the "2% better every week" mentality that propelled ZURU ahead of giants like Hasbro and Mattel. He also highlights innovative e-commerce strategies and the importance of adapting to market trends, all while maintaining a lean, self-funded business model.
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2% Improvement Every Week
- ZURU grew rapidly by improving just 2% every week, leveraging compounding progress.
- This mindset accelerated their growth, helping beat bigger competitors quickly.
Early Struggles in China
- Nick Mowbray and his brother started ZURU with about $20,000 borrowed from their parents and lived very frugally for years in China.
- They slept in bushes their first night, lived in a tiny apartment, and survived on meals costing less than a dollar each.
Learning IP The Hard Way
- They initially copied existing toys and got sued for patent infringements at their first Toy Fair in New York.
- This taught them the importance of innovating original products to avoid legal troubles.