The outbreak of Sars in 2002 marked the beginning of a downward cycle for Hong Kong-listed Dream International, one of the world’s largest plush toy manufacturers by revenue. However, Young Lee, the company’s chief financial officer and executive managing director, picked up a wealth of experience from the ordeal.
“The first sign of the downturn was Sars, but more signs appeared thereafter,” said Lee, whose company registered gross profits of HK$252 million $32.5 million in 2009. Sars was particularly damaging to the 15% of Dream International’s business focused on original design manufacturing ODM. Here toys are manufactured according to in-house designs that require customers to visit the company...
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