Retail is brutal. Honestly, if you walked into a mall ten years ago, you probably saw a lot of empty storefronts and "Going Out of Business" signs. One brand that looked like it was headed for the graveyard was Build-A-Bear. People thought the novelty had worn off. Enter Sharon Price John. Since taking over as the Build-A-Bear Workshop CEO in 2013, she basically staged one of the most interesting corporate turnarounds in modern retail history.
It wasn’t just about stuffing more bears. It was a total overhaul.
When Sharon John stepped into the role, the company was bleeding cash. It had lost money for years. Most "experts" figured the brand was a relic of the 90s mall culture. But John didn't see a toy company; she saw a brand platform. She’s often talked about how she had to "re-brand the brand." You’ve gotta respect the hustle because, by 2023 and into 2024, the company was hitting record-breaking revenues. We’re talking over $480 million in annual revenue. That doesn't happen by accident.
Why the Build-A-Bear Workshop CEO focused on "The Age of the Fan"
If you think Build-A-Bear is just for six-year-olds at a birthday party, you’re missing half the story. One of the smartest moves Sharon John made was leaning into "kidults." It sounds like a fake word, but it's a massive market. Basically, adults who buy toys for themselves.
The company shifted its focus toward collectibles. Think Star Wars, Marvel, and even more niche stuff like Friends or The Office themed bears. They realized that a 30-year-old with disposable income is a lot more valuable than a parent who only visits once a year for a birthday. Under her leadership, the "After Dark" collection was launched. It’s exactly what it sounds like—bears holding wine glasses or wearing edgy outfits designed specifically for the adult demographic. It went viral. People loved it.
Diversification saved them.
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John also realized the physical footprint was too big. Mall traffic was dropping. So, she started moving the workshops. You’ll now find them in AMC Theaters, Carnival Cruise ships, and Great Wolf Lodge locations. They went where the families were already spending money. Instead of waiting for you to go to the mall, they met you at the vacation spot. It's a classic pivot.
The Digital Leap and the Metaverse
Digital transformation is a buzzword that usually means nothing. But for the Build-A-Bear Workshop CEO, it meant survival. They launched "Bear Valley" and integrated more into the gaming world. They even dipped their toes into NFTs and the Metaverse.
While other retailers were busy filing for Chapter 11, John was pushing for a "phygital" experience. That's a mix of physical and digital. You buy the bear in person, but you interact with the brand online. They also beefed up their e-commerce. It used to be a tiny fraction of their sales. Now? It’s a massive engine. They didn't just build a better website; they rebuilt the entire supply chain to handle direct-to-consumer shipping.
Leadership Style: Not Your Average Executive
Sharon Price John isn't just a suit. She came from Hasbro and Mattel. She knows toys. But more importantly, she knows how to manage a crisis. Her book, Stories & Heart, actually dives into this. She talks a lot about the intersection of professional success and personal growth. It’s sort of a "lead with your gut" philosophy but backed by cold, hard data.
She’s been vocal about the "Pay Your Age" day debacle back in 2018. If you remember that, it was a mess. Thousands of people showed up, lines wrapped around buildings, and stores had to close for safety. Most CEOs would have gone into hiding. She went on the news. She owned it. She explained that the demand was simply more than they anticipated. They turned a PR nightmare into a massive lesson in brand loyalty. They gave out vouchers to the people who didn't get a bear, which basically guaranteed a return visit. Smart.
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The Financial Turnaround by the Numbers
Let's look at the actual math because the numbers don't lie. When John took over, the stock price was struggling. By late 2023, the company was reporting its most profitable year in its 25-year history.
- Pre-tax income: Hit record highs of over $60 million.
- Store Count: They optimized it. They closed underperforming mall locations and opened "concours" and smaller shops.
- E-commerce: Jumped to nearly 20% of total sales compared to almost nothing a decade ago.
It wasn't just about cutting costs. It was about spending money in the right places. They invested in the "Heartbeat" technology and higher-quality materials. They realized that if you're going to charge $30 for a teddy bear, it better be an experience, not just a transaction.
Navigating the Post-Pandemic World
The pandemic should have killed Build-A-Bear. Their whole business model was "come inside and touch everything." When the world shut down, they had to move fast. They pivoted to "Buy Online, Pick Up in Store" (BOPIS) faster than most of their competitors.
They also leaned into the emotional aspect. During a time of isolation, a customized stuffed animal became a "comfort object." The marketing shifted. It wasn't about the party; it was about the connection. This emotional branding is something John has perfected. She understands that they aren't selling polyester and fluff. They’re selling a memory.
What the Future Holds for Build-A-Bear
So, what’s next? Sharon John isn't slowing down. There’s a lot of talk about more entertainment ventures. They have a production arm now—Build-A-Bear Entertainment. They’re making movies. Honey Girls was one of their first big swings. They’re trying to follow the LEGO model: create content that drives toy sales, which then drives more content.
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It’s a virtuous cycle.
They are also expanding internationally into markets like China and India through franchise models. This limits the risk while maximizing the brand's reach.
Actionable Insights for Business Leaders
Looking at the Build-A-Bear Workshop CEO and her track record, there are a few things any business owner can learn. This isn't just "business school" fluff. It’s real-world survival.
- Don't fear the "Kidult": If your brand is seen as "just for kids," you’re leaving money on the table. Nostalgia is a powerful currency. Use it.
- Go where the people are: If your traditional location (like a mall) is dying, move. Partner with hotels, theaters, or tourist spots.
- Own your mistakes: The "Pay Your Age" day could have destroyed the brand's reputation. Instead, the leadership used it to prove how much people loved the product and made it right with the customers.
- Digitize the experience, not just the store: A website is a tool, but a digital community is an asset. Build the community.
- Focus on the "Un-copyable": Anyone can make a stuffed bear. Not everyone can make the "Heart Ceremony" or the experience of building it. Find your unique "thing" and protect it.
Sharon Price John proved that there’s no such thing as a "dead" industry—only "stagnant" leadership. She took a brand that was literally gathering dust and turned it into a high-tech, multi-demographic powerhouse. It's a masterclass in staying relevant when the world wants to move on.
Next Steps for Implementation
If you're trying to revitalize a brand or a product, start by auditing your audience. Are you ignoring a demographic that has a nostalgic connection to your work? Analyze your physical footprint versus your digital reach. If more than 80% of your business relies on foot traffic in a declining area, you need a partnership strategy immediately. Finally, look at your "experience" factor. If the customer can get the same feeling by ordering a generic version on a major marketplace, you haven't built enough value into the process. Focus on the emotional "heart" of the transaction to build long-term loyalty.