Mastermind Toys Named One of Canada's Best Managed Companies
Canada's Authority on Play is Recognized as Best-in-Class by Prestigious Business Awards
TORONTO, May 10, 2022 /CNW/ - Mastermind Toys was recognized as a new winner of the prestigious Canada's Best Managed Companies designation, one of the country's leading business awards programs. Founded in 1984 as the educational toy store in Toronto, Ontario, Mastermind Toys has grown into Canada's Authority on Play, now with 68 stores coast-to-coast plus a wonder-filled website.
From launching seasonal Play Guides to introducing its first sub-brand Mastermind Toys Baby to achieving a record-breaking revenue year despite half a year of retail closures, 2021 saw significant areas of growth and accomplishment from Mastermind Toys that undoubtedly contributed to its Best Managed win. The Canadian retailer has established a customer-obsessed, performance-driven culture where employees (known as "Play Experts") are empowered to be co-creators, who spot new industry trends, share insights and feedback across the organization, and drive innovation.
The company also redefined its purpose, to inspire generations of lifelong learners through the power of play, under the leadership of CEO Sarah Jordan. Jordan's purpose-driven leadership and expertise in retail transformation is centered on delivering an exceptional employee experience that creates a world-class customer experience.
"I am incredibly proud to share the Best Managed recognition with our Play Experts across our stores, our warehouse, and our "Play HQ" head office, as our people have played a critical role in establishing Mastermind Toys as a global leader in our category," said Sarah Jordan, CEO of Mastermind Toys. "We are a beloved Canadian retailer that has faced temporary store closures and undergone a significant digital and cultural transformation over the past two years and this recognition celebrates the innovations we've accomplished in the face of these challenges—and I have my team to thank for that."
Canada's Best Managed Companies recognizes overall business performance and sustained growth of best-in-class Canadian owned and managed companies with revenues over $50 million. The 2022 Best Managed program award winners demonstrate leadership in the areas of strategy, capabilities and innovation, culture and commitment, and financials to achieve sustainable growth.
"It has become increasingly important for businesses to foster collaborative workplaces where employees are empowered to make valuable contributions to their organizations," said Lorrie King, Partner, Deloitte Private and Co-Leader, Canada's Best Managed Companies program. "This year's Best Managed winners embraced a people-first mentality, enabling employees to cultivate important capabilities and integrating diversity, equity, and inclusion initiatives into their core strategy. By prioritizing employee wellbeing and championing professional development, these companies have been able to harness an engaged talent pool to explore new ventures and set the course for continuous improvement and growth."
While Mastermind Toys has experienced transformative change in recent years, its purpose has remained. After 38 years, Mastermind Toys continues to use its "Why Kids Play" model to select every toy, book, puzzle, and game; embrace diversity and inclusion in play; and be a place of wonder for kids and kids-at-heart alike all year long.
The Best Managed program is sponsored by Deloitte Private, CIBC, The Globe and Mail, Salesforce, and TMX Group.
Mastermind Toys is Canada's Authority on Play and the largest specialty toy and children's book retailer, with 68 stores coast-to-coast and a wonder-filled website. It has a proud 38-year heritage of being the educational toy store, supporting kids, parents, grandparents, educators and gift givers by offering a curation of toys and books that help develop a child's development of mind, body, and expression. Its purpose is to inspire generations of lifelong learners through the power of play, with a philosophy that "Play is Kids' Work."
Canada's Best Managed Companies continues to be the mark of excellence for Canadian-owned and managed companies with revenues over $50 million. Every year since the launch of the program in 1993, hundreds of entrepreneurial companies have competed for this designation in a rigorous and independent process that evaluates their management skills and practices. The awards are granted on four levels: 1) Canada's Best Managed Companies new winner (one of the new winners selected each year); 2) Canada's Best Managed Companies winner (award recipients that have re-applied and successfully retained their Best Managed designation for two additional years, subject to annual operational and financial review); 3) Gold Standard winner (after three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully retained their award for 4-6 consecutive years); 4) Platinum Club member (winners that have maintained their Best Managed status for seven years or more). Program sponsors are Deloitte Private, CIBC, The Globe and Mail, Salesforce and TMX Group. For more information, visit www.bestmanagedcompanies.ca.
SOURCE Mastermind Toys
please contact: Jessica Shaheen, Mastermind Toys, [email protected]; Best Managed Companies: [email protected], www.bestmanagedcompanies.ca
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