In 1974, Sanrio Co. Ltd. of Tokyo introduced a Hello Kitty franchise. The first Hello Kitty item was a vinyl coin purse sold in Tokyo, according to Sanrio Inc.'s U.S. marketing director Bill Hensley. In 1976, the franchise was introduced into the United States. Since its beginnings, the Hello Kitty line has developed under licensing arrangements worth more than $1 billion a year in sales. Examples of products depicting the character include dolls, stickers and greeting cards to clothes, accessories, school supplies, dishes and home appliances.