That could appear ironic, given how the 32-year previous is the founder and chief government officer of Mighty Jaxx, a designer toy firm from Singapore.
But to Aw, acknowledging his personal shortcomings has helped him flip his start-up into a multimillion-dollar worldwide toy business.
“It’s that realization that … I ought to choose people who find themselves approach smarter than I’m. I collaborate with them and I work with them,” he advised CNBC Make It.
“If this artist devoted their profession to constructing that craft, then they’re higher than what I can ever be.”
How all of it started
Since then, it has offered “thousands and thousands” of toy collectibles to folks in additional than 80 international locations, stated Aw.
It all began when he began watching many “how-it’s-made movies” on YouTube, which he discovered “fascinating.”
I assumed there could be simply a couple of machines that might spit (toys) out. And that was actually very naive.Jackson AwFounder, Mighty Jaxx
“Those movies that inform you how rooster nuggets are made, like how scorching canine are made … the method that goes into that. As I watched (them), I checked out my shelf of collectibles that I’ve,” he stated.
“Could I create one thing bodily, with my very own arms and craft it?”
Aw, who has been an avid toy collector since he was 17, determined to ebook a one-way flight to Shenzhen, China, the place he visited factories to be taught concerning the toy manufacturing course of.
Jackson Aw visited factories in Shenzhen, China, to be taught concerning the toy manufacturing course of.
Jackson Aw
His curiosity shortly was amazement, as he realized about methods similar to hand-sculpting and molding.
“I assumed there could be simply a couple of machines that might spit (toys) out. And that was actually very naive,” he stated.
“I got a shock after I noticed a whole bunch of individuals … simply crafting and portray on that one piece of merchandise, on what our notion will probably be a mass market product.”
Inspired by what he noticed in China, Jackson returned house after one month to create his personal designer toy with Singaporean graffiti artist, Clogtwo.
It’s as if we by no means felt that worry once more. So we took the cash, and we rolled (with) it.
Jackson Aw
Founder, Mighty Jaxx
Together, they created Mighty Jaxx’s first collectible, the “Hell Lotus.” With the assistance of a $20,000 mortgage, he produced 200 items of the toy, which he launched at Singapore Comic Convention in 2012.
Aw offered the stock in six months and there was no turning again. “It’s as if we by no means felt that worry once more. So we took the cash, and we rolled (with) it.”
Big break
Over the years, Mighty Jaxx continued to associate with visible artists from around the globe to create distinctive, limited-edition collectibles, whereas remaining “money move optimistic,” stated Aw.
“We by no means took exterior cash till a lot later,” he added.
The tide really turned for the corporate in 2015, when Aw scored his first licensing partnership with Warner Brothers’ DC Comics.
He recollects emailing Julian Montoya — who was Warner Brothers‘ vice chairman of world toys on the time — on a whim, hoping to “restyle” Warner Brothers’ artistic mental property just like the DC Comics characters.
After Mighty Jaxx scored its first licensing partnership with Warner Brothers’ DC Comics, the corporate made $1.7 million in 2015, 4 occasions greater than the earlier 12 months.
Mighty Jaxx
“His secretary replied, (saying) we do have half-hour this Friday, you may come by and simply chat with us.”
He flew to Burbank, California, the place he confirmed Montoya the potential designs and 3D prototypes of the DC toys. “At the tip of it he was simply, ‘Alright. We’ll shake on it,'” Aw stated.
“I went out of the room, I assumed, ‘Nah, that may’t be actual.’ The subsequent day, they despatched over the contract and it was for a world deal.”
That deal, which Aw stated was “a large leap of religion” on Montoya’s half, quadrupled the highest line for Mighty Jaxx.
According to Aw, his firm made $1.7 million in 2015, 4 occasions greater than the earlier 12 months.
“And that was when, (I spotted), holy crap, one thing’s taking place,” he stated.
From DC to Netflix
Since then, Aw has doubled down on collaborations with famend manufacturers to achieve fandoms all around the globe, from Adidas, Hasbro and Nickelodeon, to Formula 1, Sesame Street and Netflix.
Those collaborations allowed Aw to provide collectibles on a wider scale and at decrease costs, making them extra accessible to followers.
The DC collectibles, for instance, had been offered at $10 every. That’s inexpensive in contrast with different Mighty Jaxx toys which can be produced in a lot smaller portions, which may price as a lot as $1,200.
In 2020, Aw additionally began producing blind packing containers, which include collectible figurines or toys unknown to patrons till they’re unpacked.
Mighty Jaxx additionally produces blind packing containers in collaboration with Jason Freeny, who is thought for his anatomical artwork.
Mighty Jaxx
He partnered with American designer Jason Freeny, who is thought for his anatomical artwork.
“We utilized it on a lot of our license companions they usually all adore it as a result of it is such an alternate look to issues … And now it has grow to be a staple line for us.”
Aw’s eager eye for what’s fashionable has actually paid off. According to Mighty Jaxx, the corporate’s income grew at a compounded price of 71% from 2019 to 2021.
To date, Mighty Jaxx has raised round $40 million, valuing the corporate at over $200 million. Its traders embody Chinese conglomerate Tencent, KB Investment and East Ventures.
Aw additionally made it to Forbes’ 30 Under 30 Asia record in 2018, on the age of 28.
Jackson Aw’s recommendation for younger entrepreneurs? “Fear will at all times exist. But the query is, what do you make of that?”
Eli Lo