Rubik’s Brand, the London-based brand that holds the rights to the Rubik’s cube, has sold a minority stake to European private equity firm Bancroft Investment.
RBL was created by the founding families of the original Rubik’s brand in 2013.
In the last five years, RBL has rolled out a licensing program that has led to collaborations with companies including Google, Red Bull and McDonald’s.
Bancroft’s investment will help the group to further the global awareness of the Rubik’s brand through new channels, products and markets. Christoph Bettin will serve as the company’s new chief executive officer.
Partnership secured with Merge Apps to launch first AR version of best selling toy.
Rubik’s has secured a new partnership with Merge Apps which will see the creation of Rubik’s Cube Augmented – the world’s first augmented reality version of the top selling toy.
Available to download on iOS and Android, Rubik’s Cube Augmented for Merge Cube will allow players to solve the classic brain teaser in augmented reality. When they view the MERGE Cube with the Rubik’s Cube Augmented app, it transforms into an interactive, holographic version of the Cube in the palm of their hand.
As demand from consumers for more variety from Rubik’s existing ranges of toys increases, The Smiley Company – which operates Rubik’s brand extension programme – continues to oversee the development of a new range of products that leverages the brands roots in art and intelligence to create games and toys for the future.
“This partnership with Merge Cube forms a core part of our strategy to leverage the latest available technology to take the Rubik’s brand to a new generation of consumers,” said Lori Heiss-Tiplady, vp brand strategy at Smiley.
“Our vision for Rubik’s is dedicated to innovation and creating high quality products that tap into the brands rich architectural heritage and that encourages kids and adults alike to ‘Play Smart’.”
Lori added: “We are looking to further our goals of bringing intelligent play to people of all ages and we fell this partnership with Merge Apps does just that.”