Company Oriential Trading

The Oriental Trading Company is a direct marketing company for novelties, small toys, and party items. It was founded in 1932 as one of the United States' first wholesale companies. It is based in Omaha, Nebraska and its majority owner is the Carlyle Group.

In 2006 it was reported the company has 18 million customer names on file, mails 300 million catalogs annually and has more than 25,000 products. It has 1,500,000 square feet (139,000 m ² ) of office and warehouse space in Iowa and Nebraska, and employs more than 3,000.

History

The company was founded as a gift shop in 1932 in Omaha, Nebraska by Harry Watanabe. The company expanded to 17 shops in the Midwest. During World War II restrictions against imports from Japan the company shrank back to its Omaha base. Watanabe then bought a ceramic shop which made Kewpie dolls and other ceramic items.

In 1954 it resumed its imports from Japan and was a major carnival supplier. In 1956 it launched its first catalog.

In 1977 Watanabe's son Terry Watanabe became president and its focus shifted from carnivals to supplying party goods for churches, schools, retailers, and individuals.

In 2000, Watanabe sold his entire stake in the company to Los Angeles-based private equity firm Brentwood Associates, and resigned as CEO and President. Watanabe is alleged to have had alcohol and gambling problems resulting in losing US$127 million to the Rio and Ceasars Palace in Las Vegas in 2007. Harrah's, which owns the two casinos, derived 5.6% of its revenues that year from Watanabe. He has paid $112 million but refused to pay the rest prompting Harrah's to file criminal charges against Watanabe.

In 2002 Brentwood Associates entered into an agreement to expand the company.

In 2006 Carlyle Group bought majority interest in the company with Brentwood owning a reported 25 percent.

References

1. ^ ^{a b} Oriental Trading Sold multichannelmerchant.com - June 13, 2006
2. ^ Oriental Trading Company Through the Years - orientaltrading.com
3. ^ http://online.wsj.com/article/SB125996714714577317.html

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