How beneficial is the toy trade in india?

How beneficial is the toy trade in India? The Indian toy market's future is promising; Fun School, one of India's largest branded toy company, is overgrowing through franchisees.



How beneficial is the toy trade in india
 How beneficial is the toy trade in India 

How beneficial is the toy trade in India?

 According to Fun School, the franchise model has worked well, and in the Indian toy industry, Fun School and Mattel are the largest players in the branded toy market. One of India's largest branded toy company, part of the MFR Group, is overgrowing through Fun School franchisees. R Jaswant, Senior Vice President, Sales, and Marketing for Fun School India says the franchising model has worked well. Indian toy industry Fun School and Mattel are the largest players in the branded toys market. We spoke to R Jesswant on the insight into the Indian toy industry and its future,

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What has been the most challenging with Fun School?

 

Being an Indian toy brand, were there any obstacles? The biggest hurdle is the lack of market size and awareness of toys. There is a little history for toys in India, and most parents have not been exposed to branded toys. Fun School has its brands and represents many of the world's leading toy brands. Fun School's concept is that of a high-quality toy manufacturer and marketer. Our customers see us as a preferred supplier. No, as an Indian toy brand, we have not suffered. The biggest obstacle to the growth of toy retail in India is the unbearable rentals of shopping malls.


How beneficial is the toy trade in india
 How beneficial is the toy trade in India 


What are your thoughts on the franchisee model and why you have chosen to open it in a store? What is your most significant advantage? Franchisees have their store, which is critical to success. Most of our franchisees have retail experience and have long been closely associated with Fun School's inadequate capacity. Franchisees have a better knowledge of market conditions and are better equipped to resolve local issues. This model has worked well for us.

Do you think the Indian toy market has grown over the years by introducing many international brands in India? The global toy market is around US $ 85 billion, and the Indian toy market is worth Rs 2750 crore (slightly more than the US $ 400 million), which makes up the Indian market for about 0.5% of the toy market. It is also a sign of the promise that the market is ready for the future, and that is why most international toy companies see a great opportunity in India in the future. We expect the market to overgrow as trade and purchasing power continue to grow. The Indian toy market is growing faster than most other markets. However, the base is small, yet the future is promising.


 How many stores do you currently have, and which cities do you want to target?


 There are currently 18 retail stores in India, including a specialty Lego store in Chennai. Our stores are located in Chennai (3), Udaipur, Thane, Kalyan, Surat, Bangalore (2), Hyderabad, Vijayawada, Madurai, Ghaziabad, Indore, Coimbatore, Amritsar, Hosur, and Kochi. We plan to increase the count to 25-30 stores.

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Who are your contestants? 


 How beneficial is the toy trade in India? All toy manufacturers and marketers are contestants, and as such, anyone marketing children's recreational products is our competitor. Fun School and Mattel are the largest players in the branded toy market in the Indian toy industry.

How is a quality check done in your industry, and what steps are taken to prevent duplication?


How beneficial is the toy trade in india
 How beneficial is the toy trade in India 



 We have a complete quality control team, ensuring that the products are compliant with their quality standards. Preventing this is a problem, especially in products like Rubik's Cubes and Beyblades. Still, customer awareness is increasing, and customers have become more aware of the need to buy toys safe for their children.

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Is Fun School Going International? Any plans like this?


 We are now focusing on creating our brands like GI and representing many leading toy brands like Lego, Hasbro, Takara Tomi, Leapfrog, Siku, Ravensberger, etc., in the Indian market.


How beneficial is the toy trade in india?  How beneficial is the toy trade in india? Reviewed by KOC on October 13, 2020 Rating: 5

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