Mastermind LP,

trading as Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market (economics), market. An early form of trade, barter, s ...

Mastermind Toys, is a Canadian chain of

toy store A toy store or toy shop is a type of retail business specializing in selling toys. Notable examples * Hamleys, the world's oldest toy shop * Toys "R" Us, international company now Tru Kids * FAO Schwarz, famous American brand and store * The LEG ...

s. Based in

Scarborough Scarborough or Scarboro may refer to: People * Scarborough (surname) * Earl of Scarbrough Places Australia * Scarborough, Western Australia, suburb of Perth * Scarborough, New South Wales, suburb of Wollongong * Scarborough, Queensland, su ...

Toronto Toronto ( ; or ) is the capital city of the Canadian province of Ontario. With a recorded population of 2,794,356 in 2021, it is the most populous city in Canada and the fourth most populous city in North America. The city is the ancho ...

Ontario Ontario ( ; ) is one of the thirteen provinces and territories of Canada.Ontario is located in the geographic eastern half of Canada, but it has historically and politically been considered to be part of Central Canada. Located in Central Ca ...

, the company was founded in 1984 by brothers Andy and Jonathan Levy, and is now privately owned by Birch Hill Private Equity.

History

Brothers Andy and Jonathan Levy opened "Mastermind: The Educational Computer Store" in 1984 as a 300-square-foot shop in

, Canada that sold

educational software Educational software is a term used for any computer software which is made for an educational purpose. It encompasses different ranges from language learning software to classroom management software to reference software. The purpose of all t ...

for home computers. A second shop called "Mastermind Educational" was opened in 1985 with an expanded selection of toys, books, and games. Mastermind Educational began offering complimentary in-store gift wrapping with a custom wrap designed in-house. Proving successful, the chain began to expand. The first store (300 square feet) opened in 1984 and the second opened in 1985. Through the 1990s, 10 locations across the GTA were established and in 1997 its website mastermindtoys.com launched. In 2005, Mastermind Educational rebranded to Mastermind Toys and in 2007, opened its eleventh store in the GTA. In 2010, Mastermind Toys was acquired by Birch Hill Private Equity Partners to help the company expand across Canada. Co-founder Andy Levy retired and Jon Levy stayed on as CEO. Within the decade, Mastermind Toys expanded to 57 new stores coast-to-coast. In 2019, Jon Levy retired and in January 2020, Sarah Jordan was appointed CEO of Mastermind Toys. Sarah Jordan was formerly a Principal at The Boston Consulting Group and Senior Vice President of Customer Experience and Omni Channel Strategy at Scotiabank. ''

The Globe and Mail ''The Globe and Mail'' is a Canadian newspaper printed in five cities in western and central Canada. With a weekly readership of approximately 2 million in 2015, it is Canada's most widely read newspaper on weekdays and Saturdays, although it ...

'' contrasted Mastermind Toys to its main competitors,

Toys "R" Us Toys "R" Us is an American toy, clothing, and baby product retailer owned by Tru Kids (doing business as Tru Kids Brands) and various others. The company was founded in 1957; its first store was built in April 1948, with its headquarters loc ...

and

Walmart Walmart Inc. (; formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores from the United States, headquarter ...

, by classifying it as a mid-size "specialty retail" chain with a focus on premium and "trend-proof" products, as opposed to big-box rivals "sustained by branded plastic".

References

External links

* Companies based in Scarborough, Toronto Retail companies established in 1984 Canadian brands 1984 establishments in Ontario Toy retailers of Canada {{canadian-company-stub