The story
Founded by Edwin Binney in 1885, in New York City.1
The company was founded by Edwin Binney and Harold Smith, who met during their shared time as U.S Marines. Their first products were colorants for industrial use, including red iron oxide pigments used in barn paint and carbon black chemicals used for making tires black and extending their useful lifespan. Their new process of creating inexpensive black colorants was entered into the chemistry industries competition at the 1900 Paris Exposition under the title "carbon gas blacks, lamp or oil blacks, 'Peerless' black" and earned the company a gold medal award in chemical and pharmaceutical arts. Also in 1900, the company added production of slate school pencils. Binney's experimentation with industrial materials, including slate waste, cement, and talc, led to the invention of the first dustless white chalk, for which the company won a gold medal at the 1904 St. Louis World's Fair.
Initially formed as a partnership, Binney & Smith incorporated in 1902, and in that year Binney & Smith developed and introduced the Staonal marking crayon. Then Edwin Binney, working with his wife, Alice Stead Binney, developed his own famous product line of wax crayons beginning on June 10, 1903, which it sold under the brand name Crayola. The Crayola name was coined by Alice Binney who was a former schoolteacher. It comes from craie (French for "chalk") and ola for "oleaginous" or "oily." The suffix "-ola" was also popular in commercial use at the time, lending itself to products such as granola (1886), pianola (1901), Victrola (1905), Shinola (1907), and Mazola (1911). Crayola introduced its crayons not with one box, but with a full product line. By 1905, the line had expanded to offering 18 different-sized crayon boxes with five different-sized crayons, only two of which survive—the "standard size" (a standard sized Crayola crayon is 3+5⁄8 in × 5⁄16 in (92.1 mm × 7.9 mm)) and the "large size" (large sized Crayola crayons are 4 in × 7⁄16 in (102 mm × 11 mm)). The product line offered crayon boxes containing 6, 7, 8, 12, 14, 16, 18, 24, 28, or 30 different color crayons. Some of these boxes were targeted for artists and contained crayons with no wrappers, while others had a color number printed on the wrapper that corresponded to a number on a list of color names printed inside the box lid, but some boxes contained crayons with their color names printed on their wrappers.
The Rubens Crayola line, started in 1903, was directly targeted at artists and designed to compete with the Raphael brand of crayons from Europe. The crayon boxes sold from five cents for a No.6 Rubens box containing six different-colored crayons to $1.50 for the No. 500 Rubens Special Artists and Designers Crayon box containing 24 different-colored, larger (4+1⁄4 in × 1⁄2 in (108 mm × 13 mm)) crayons.
In April 1904 at the St. Louis World's Fair, Binney & Smith won the Golden Medal for their An-Du-Septic dustless chalk. Subsequently, Crayola used the opportunity to develop a new packaging strategy by emphasizing their gold medal on the front of many of their products and crayon boxes. This strategy turned out to be so successful and recognizable to their brand that they phased out nearly all of their other Crayola line box designs to adapt to the gold medal format, which appeared on their packaging for the next 50-plus years.
In 1905, the prototype offering of their new No. 8 crayon box (with eight crayons) featured a copy from the side of the medal with an eagle on it. This was changed to the other side of the medal with the 1904 date on it in Roman numerals.
Binney & Smith purchased the Munsell Color Company crayon product line in 1926, and inherited 22 new colors, 11 in the maximum and 11 in the middle hue ranges. They retained the Munsell name on products such as "Munsell-Crayola" and "Munsell-Perma" until 1934, and then incorporated their colors into their own Crayola Gold Medal line of boxes.
In 1939, Crayola, by combining its existing crayon colors with the Munsell colors, introduced its largest color assortment product to date; a "No. 52 Drawing Crayon 52 Color Assortment", which was retired by the 1944 price list.
In 1949, Crayola introduced the "Crayola No. 48" containing 48 color crayons in a non-hangable floor box.
Read the full text
Further expansion took place in 1957 with the introduction of the 64-color pack that included the company's first crayon sharpener built into the box. The 64-color box was called "a watershed" moment in the history of the Crayola crayon by Smithsonian National Museum of American History curator David Shayt.
The corporation became a publicly traded company under the symbol BYS on the American Stock Exchange in 1963, and later moved to the New York Stock Exchange under the same symbol in 1978.
In 1977, Binney & Smith acquired the rights to Silly Putty, a stretchy, bouncy silicon rubber compound. Crayola markers were introduced in 1978 to coincide with the 75th anniversary of Crayola crayons. In 1984, the company was acquired by Hallmark Cards, a privately held corporation. Colored pencils and a line of washable markers were added in 1987.
In August 1997, Crayola collaborated with Alliance Atlantis and the entertainment arm of Hallmark Cards to release three direct-to-video adaptations of famous children's novels under the name Crayola Kids Adventures.
Crayola Crayons were inducted into the National Toy Hall of Fame at The Strong in Rochester, New York, in 1998. On January 1, 2007, Binney & Smith reorganized as Crayola LLC, to reflect the company's number one brand.
In 2011, My First Crayola was launched. Products include triangular crayons and flat-tipped markers.
In 2015, Crayola announced "Color Escapes" for adults to help them relieve stress. The kit includes four collections, such as geometric, garden, natural, and kaleidoscope.
From Wikipedia’s article on Crayola, shared under CC BY-SA 4.0.4