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About Crayola LLC

Crayola has cornered the market on colors. The world-famous producer of colored crayons (wax pencils) produces about 12 million crayons a day, as well as other Crayola art products for children, such as markers, paint, chalk, brushes, and craft and activity kits. Crayola also makes Silly Putty, the iconic silicone putty with utility, and inkTank pens and markers for adults. The firm's products, which are manufactured near its HQ in Lehigh, Penn., are packaged in many languages and sold worldwide. Edwin Binney and C. Harold Smith sold their first Crayola crayons in 1903, when a box of eight cost a nickel. Crayola is a subsidiary of Hallmark Cards.

Strategy

Looking to cater to those who don't use crayons, Crayola serves the professional market with its inkTank line and its Portfolio Series collection of color pencils, oil pastels, and acrylic paints.

Crayola rules the crayon market. While no one outside the company knows its exact share, it's estimated to be at least 80% of the US market. High brand recognition and intense consumer loyalty allow Crayola to charge a price premium of as much as 300% above its competitors. However, competition has heated up in recent years. Retailers, including rivals Wal-Mart and Target, have been heavily discounting Crayola products to spur sales, cutting into Crayola's profits. Also rivals, including MEGA Brands-owned Roseart, are jockeying for position.

Crayola is quick to develop products to tap into shifts and developments in the arts and crafts market. For instance, Crayola responded to the sudden boom in adult coloring by rolling out a line of pencils and coloring books aimed at adults. 

Company Background

Hallmark has owned the crayon maker since 1984. Lesser-known Binney & Smith changed its name to Crayola in 2007 to reflect its iconic product.

Crayola LLC

1100 CHURCH LN
Easton, PA 18040-5999
Phone: 1 (610) 253-6272

Stats

Employer Type: Privately Owned
President and CEO: Mike Perry
EVP Human Resources and Administration: Michelle Powers
EVP, Global Operations: Peter S. Ruggiero
Employees (This Location): 740
Employees (All Locations): 1,600

Major Office Locations

Easton, PA

Other Locations

Minneapolis, MN
Kansas City, MO
Bethlehem, PA
Easton, PA
Fredericksburg, PA
Plano, TX