Nick Mowbray

Last updated

Nick Mowbray
Born
Nicholas James Mowbray [1]

March 1985 (1985-03) [1]
New Zealand
OccupationEntrepreneur
Years active2003–present
Known forCo-founder of toy manufacturer Zuru
Co-owner of Coatesville mansion
Relatives Anna Mowbray (sister)

Nicholas James Mowbray (born March 1985) is a New Zealand entrepreneur and businessman. Together with his brother Mat, he is the co-founder of toy and consumer products manufacturer Zuru.

Contents

Early life

Mowbray grew up in Cambridge, New Zealand, and was educated at St Peter's School. [2] His parents owned a dairy farm [3] and Matangi dairy factory. [4] As a teenager, he helped his elder brother Mat to manufacture hot air balloons from Coke cans and plastic bags. After school, he started a law degree but dropped out in his first year. [3]

Zuru

In 2003, when the brothers were 18 and 22, they moved to Hong Kong to set up a toy factory. With a loan from their parents, they purchased an injection molding machine and started a company in Guangzhou, China. The Mowbrays regard their entrance into the business world as naïve, as they had no experience, could not speak the local language, and had no knowledge of intellectual property legislation. In 2005, the brothers were joined by their sister Anna in their business. [3]

The initial name of their company was Guru and this was changed to Zuru as Guru had been trademarked by another company. According to Mowbray, by the end of 2020 Zuru employed 8500 people, had 26 offices, and a turnover of over $1 billion. [5] Successful toys were Robo Fish (the world's fastest selling toy in 2013) and Bunch O Balloons (the top selling toy in the United States for three months in 2016). [6] In 2018, Mowbray was awarded New Zealand Entrepreneur Of The Year by multinational professional services network Ernst & Young. [7]

Personal

Aged 26, Mowbray developed Crohn's disease. In his early 30s, he moved back to New Zealand to undergo operations after he was told that without treatment, he only had a few years to live. [5]

The siblings bought Coatesville mansion in Coatesville in 2017 for NZ$32.5 million when they were in their early 30s. [8] The mansion is one of New Zealand's most expensive homes and is famous for the January 2012 raid when Kim Dotcom lived there. [3] According to the National Business Review , the net worth of the siblings is NZ$3bn. [3] In late 2020, Mowbray bought a 40-metre (130 ft) yacht for NZ$21m. [9]

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References

  1. 1 2 "Zuru UK Limited". Companies House . Retrieved 6 September 2022.
  2. ↑ Wilson, Libby (5 January 2015). "Balloon festival's new backer". Waikato Times . Retrieved 9 April 2021.
  3. 1 2 3 4 5 Harrison, Virginia (16 December 2019). "How a university dropout built a toy empire". BBC News . Retrieved 5 April 2021.
  4. ↑ "Waikato's own toy story and AGM – presentation | IoD NZ". The Institute of Directors. 13 January 2020. Retrieved 30 December 2023.
  5. 1 2 "The man who wouldn't stop – and nearly died". The New Zealand Herald . 13 December 2020. Retrieved 5 April 2021.
  6. ↑ Ryan, Holly (15 June 2016). "Kiwi water balloon toy number one in US". The New Zealand Herald . Retrieved 5 April 2021.
  7. ↑ Reidy, Madison (28 September 2018). "Toy mogul takes out top entrepreneur award". Radio New Zealand . Retrieved 5 April 2021.
  8. ↑ Wynn, Kirsty (22 October 2016). "New owners of Kim Dotcom mansion promise good times ahead". The New Zealand Herald . Retrieved 5 April 2021.
  9. ↑ "America's Cup partygoers slammed for 'cultural appropriation' in mock haka video". The New Zealand Herald . 18 March 2021. Retrieved 4 April 2021.
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