Simba Toys eyes 100 stores by 2014
Simba Toys India, a part of German toy maker Simba Dickie Group, plans to add over 80 more stores by 2014
Simba Toys entered the country in 2010 and has brands like Majorette, Steffi and Squap in its portfolio currently has 18 stores here through franchise route.
“The domestic toy market is still under-penetrated. A large part of it is still unorganized and we are looking at a larger play here. In a limited time we have gained significant presence and we will scale it up further,” Simba Toys India business head Shree Narayan Sabharwal said.
The domestic toy market is estimated to be about Rs 3,000 crore, of which organized market is just about Rs 600 crore. It has been growing at 18-20 per cent, except last year when the growth fell to 12-15 per cent.
Quite bullish about the market, Sabharwal said they will come up in tier I and II cities, including high streets and airports (if rentals are permissive).
On the product-line, Sabharwal said the company launches new products every month. “We are looking at introducing newer and interesting concepts here. We will launch a plush toy inspired by Talking Tom app next month.”
Simba sells its board games and plush toys across other retail stores such as Hamleys and Landmark as well. Its master franchisee is Exelixi Management Company.
Simba also holds licences for entertainment properties like Cars2 apart from marketing back-to-school products. The company has manufacturing units in Europe, Thailand and China.