Navigating Financial Waters, Empowering Your Decisions.

Finance News

Colorful Creativity: Crayola Gears Up for Another Profitable Back-to-School Season

As America’s iconic crayon manufacturer, Crayola, gets ready for yet another highly profitable back-to-school season, children worldwide are excitedly preparing to continue the tradition of colorful creativity that spans over a century.

A Century of Color

Founded in 1903 by cousins Edwin Binney and C. Harold Smith, Crayola has become the nation’s largest crayon manufacturer, producing a staggering 3 billion crayons and 700 million markers annually. What started with the sale of the first box of crayons for just 5 cents has evolved into an enduring legacy, playing a vital role in communities across the nation, particularly in its eastern Pennsylvania hometown.

Back-to-School Sales Surge

FOX Business’ Lauren Simonetti delves into the fascinating world of Crayola, revealing that 45% of the company’s annual sales occur during the back-to-school shopping season. The iconic 24-count pack of crayons remains the top-selling unit in retail, second only to groceries. This demonstrates the enduring popularity and appeal of Crayola’s products, capturing the hearts of children and adults alike.

Phenomenal Employees Behind the Magic

A significant factor contributing to Crayola’s remarkable success is its dedicated and highly skilled workforce. Peter Ruggiero, the company’s COO, proudly emphasizes the importance of their employees, praising their commitment to the company and their exceptional capabilities.

“We have phenomenal employees, Lauren, very highly skilled and very committed to our company. And it’s a great capacity that we have here in Pennsylvania,” Ruggiero commented.

Weathering the Storm of Inflation

Inflation has been an undeniable force impacting businesses worldwide. Despite this challenging economic climate, Crayola has chosen to keep prices unchanged for seven of its products for an impressive 15 years. This commitment to affordability and accessibility demonstrates the company’s dedication to its customers and their creative pursuits.

“[There has been a] tremendous impact on this company from inflation. But our employees do a great job,” Ruggiero continued.

Crayola’s Educational Influence

Beyond the joy of artistic expression, Crayola continues to make significant contributions to education. Its products play a vital role in schools, fostering creativity and cognitive development among young minds. Teachers and parents alike recognize the educational value of Crayola’s tools, making them an integral part of the learning process.

Expanding Horizons

While Crayola’s traditional crayons and markers remain a staple in classrooms and homes, the company has also embraced innovation. In recent years, it has ventured into the digital realm with interactive and educational apps, combining the charm of traditional art with modern technology.

Giving Back to the Community

Crayola’s commitment to its community extends beyond its economic contributions. The company actively participates in philanthropic endeavors, supporting various causes and initiatives. Through charitable programs, Crayola ensures that its legacy is one of positive impact and meaningful change.

Bright Future Ahead

As Crayola braces itself for another successful back-to-school season, its commitment to colorful creativity and educational excellence remains unwavering. With a dedicated team of employees, an array of innovative products, and a steadfast dedication to its community, Crayola continues to inspire generations and shape the artistic landscape of the future.

In conclusion, the Crayola story is not just one of crayons and markers but of imagination, inspiration, and the power of creativity. As long as there are children with dreams and colors to explore, Crayola’s vibrant journey will endure, leaving an indelible mark on the canvas of history.

Download our app MadbuMax on the Apple App Store for the latest news and financial tools. Interested in getting your finances in order do not forget to check Dr. Paul Etienne’s best-seller book on personal finance. To access more resources, tools and services please click here. Also do not forget to follow Dr. Etienne on IG or Twitter.


Your email address will not be published. Required fields are marked *