The toys, Beanie Babies, are adorable bean bag-filled understuffed soft toys. Manufactured by Ty Inc., USA, it is a one-man creation. The company was founded in 1986 in the USA by Ty Warner, a toy creator and marketing genius. The Beanie Baby line was introduced in 1993.

Warner, who is listed as the 33rd richest American by the Forbes magazine, is a recluse. He never gives interviews and even his phone number and address of the company headquartered in suburban Chicago is unlisted.

Surprising isn't it, considering anything and everything from what happens behind close doors to the confessions of a killer are sensationalised in the US of A? Well, there are exceptions and exceptions. And Warner happens to be one of them. However, he came out to of his self-imposed silence to declare he is the richest toy maker in the world. His empire earns more money than the toy industry's two giants-Hasbro and Mattel-combined!

A Kalamazoo College dropout, Warner took a job selling and designing soft toys. He quit that too to just idle away his time and life in and around Italy. That bored him and he then decided to go home to the US and designed a line of stuffed Himalayan cats and other toy animals before creating Beanie Babies. It became one of the best-selling toy lines of all times.

Kids loved the cute names that he gave his soft creations-Snort the Bull, Fleece the Lamb, Fetch the golden Retriever, Fortune the Panda, Stinger the scorpion, et al.

Warner's first creation in the Beany Baby line was Peanut, the Elephant. After the toy was released in the market, Warner felt the colour of the elephant was not entirely to his liking. The meticulous man that he is, Warner decided to withdraw the entire lot from the shelves. And he did. Only to realise that people who bought them were bidding the ones that they had for phenomenal rates. And thus was born an unique marketing strategy.

Warner's company, Ty Inc. `retires' his line of cuddly creatures after manufacturing a limited number. This marketing ploy creates a kind of frenzied buying, which the company is now responsible for provoking. The limited distribution of the soft, cuddly creatures has spawned a cult of adult collectors. Today, Peanut the Elephant fetches as much as $5,000 in the secondary market!

Each Beanie Baby has a heart-shaped tag which has to be preserved. It lists its name and date of birth (which is the date of its creation by the maker, Warner) that is printed alongside a short poem. Another tag, called the tush tag, which is attached to the Beanie's rear end, frequently carries misprints and mistakes, particularly on newer Beanies. Expectedly, some collectors find it extraordinary and pay extra for it. Beanies, which hit the US market at $5 to $7 reaches an unbelievable $12,000 in collectors' circles. And no self-respecting collector will buy a Beanie without its tags.

The most sought-after Beanie is the bears. The hysteria surrounding Beanies is fuelled by books, shows, Websites and magazines that tout Beanies' rapid ascent in value. The new line of Beanies have a hologram, which when pressed reveals the shape of a heart and also the name of the company. All this is being done to keep fakes at bay.

The toys are special in just not their appearance but also their feel. They are formulated by a special `weighted' filling which enables one to pose one's Beanie in unique positions. They are different from the other toys in that each has its own individual character. All eyes are hand-painted and each piece is hand-sewn with washable imported apparel fabric that is non-allergenic, colour fast and non-flammable.

The toy market in India is estimated at Rs 350 crore (including the organised and the unorganised sector). An average Indian spends 2.5 per cent of his income on toys. Will there be space for Beanie babies here? Leslie Amanna, director, Ty Asia (India) Pvt. Ltd, is positive there is. "The Beanies are so cute and adorable that children will reach out for them." Priced at Rs 199, the toys were launched at Crossroads, Archies and leading stores in Mumbai. Later it will be launched in Bangalore, Hyderabad and Chennai.

The toys, which will essentially cater to a niche market, are expected to be a rage, believes Amanna. Will they? "When one realises that it is the only product whose selling price increases 35 per cent by the time one walks out of a store, I am sure it will be a sellout in India."