Company Profile - P.M.I

P.M.I Staying one step ahead

PMI is looking forward to a big year in 2023 as the company cements itself as one of the leading gaming IP toy manufacturers. COO Omer Dekel talks to Toy World’s Sam Giltrow.

Already producing product for hit games Among Us and Brawl Stars, and most recently Sonic with its new Sonic Prime range, this summer will see PMI launch collections for two major new IPs - Piñata Smashlings and Pudgy Penguins. The company is also set to finalise further high-profile licences, including its first ever master toy deal for a pre-school brand.

PMI’s COO, Omer Dekel, tells us that immersive and captivating IP Piñata Smashlings is set to become one of the year’s biggest children’s brands. Launching in August, Toikido has partnered with PMI and Character Options to deliver Piñata Smashlings, its first IP created solely inhouse, with a Roblox game already in production and a series of animated shorts, music, collectibles, trading cards, books, plush and play sets all scheduled for release.

Underpinned by a character driven story, the ‘Piñataverse’ will be home to hundreds of playful characters, including cheeky Smashlings and playful Piñatas, and PMI’s toy line will include collectible figures, action figures, play sets and plush. One of the highlights of the collection will be the Smashlings collectible figures range, which includes over 100 Smashlings that are to be released in two separate series and divided by five different rarity levels.

Toikido has teamed up with Corus Entertainment’s Nelvana, a world-leading international producer, distributor, and licensor of children’s animated and live action content, to develop a new animated kids series based on the gaming IP. The new character-driven series will expand the Piñataverse world and showcase its characters like fans have never seen them before, driving even more engagement for the brand.

Pudgy Penguins is PMI’s first foray into the world of NFTs. The global, family friendly NFT collection is made up of 8,888 tradable penguin avatars with proof of ownership on the Ethereum blockchain. PMI will produce Pudgy Penguin action figures, collectible figures and plush based on the collection. Included with each Pudgy Penguin toy is a hidden forever friend adoption certificate, unlocking a specialized digital experience.

“These two licences are a big deal for us because it’s the first time we have dealt with unknown brands. It’s an amazing experience and a bit of a risk, but one we were very happy to take,” says Omer. “Pudgy Penguins is a whole new area for us because we are getting into the NFT space, but there is so much more beyond it. We have been talking to all major retailers in the US and the feedback has been brilliant, with many orders placed already.”

Omer says that the merging of the physical and digital worlds is on the rise, and an increasing number of toy manufacturers are adapting to tap into this trend. He adds that he feels success is all about staying ahead of the game in finding the ‘next big thing’. PMI does this through a series of measures including its highly skilled employees – many of whom are gamers themselves – as well as employing a scouting team of gamers which updates the company on a weekly basis about the very latest trends. “It’s vital that we monitor what is happening in the gaming sector,” explains Omer. “I am proud to say that we are always ahead of the curve.”

Omer adds that 2023 is on course to be a huge year for pocket money priced collectibles as the cost-of-living crisis continues to hit households, therefore business should be brisk for the company whose acronym stands for ‘Pocket Money Items’. “We are already seeing more volume on the lower price points and, as disposable income has shrunk and customers are spending wisely; they are looking for more value,” he states. “It’s a challenge, as we have to push the factories and push ourselves, working harder and smarter to be able to meet the demands from the industry and the world’s economy.”

PMI has come a long way since it started out as a domestic business based in Israel 30 years ago. It was only a decade ago that the company started trading internationally, but it now distributes in 132 countries. This year, the company is targeting double-digit growth in the US market. “We want to get to a point where our US business is as big as it is in EMEA,” explains Omer.

Until 2020, PMI used Zuru as its US distributor, but once the pandemic hit, PMI was forced to re-evaluate the way it conducted its business in the region. “Now, thanks to Among Us, Paw Patrol and Baby Shark, we have been able to penetrate the US market more fully,” Omer says proudly.

Commenting on the growth strategy for the year ahead, Omer says he is confident that the two new licences already in place will deliver, and he is excited to sign another in the pre-school space. “It’s a brand which is quite new and fresh, and it’s our first ever master toy deal for a pre-school brand,” he teases. “We are very much looking forward to the year ahead. I do think it will be challenging, but this will force us to be even better and wiser still.”