Indian toy company gears up
Leading Indian toy maker Hanung Toys and Textiles Ltd is gearing up to capitalise on opportunities generated after the recent backlash against China-made playthings.business Updated: Dec 09, 2007 21:58 IST
A leading Indian toy manufacturer is gearing up to capitalise on opportunities generated after the recent backlash against China-made playthings, besides keeping up with its reputation of bringing out a new article every fortnight.
And Hanung Toys and Textiles Ltd, which has four manufacturing units in Noida and Uttarakhand, plans to establish two more factories as orders and enquiries are flooding in.
"We are trying to make out the most from the recent backlash. Though we have diversified products, we want to showcase ourself as a manufacturer complete in all aspects," said Ashok Kumar Bansal, CMD of the Noida-based company.
"We have had many inquries from global clients and we are confident of grabbing most of the deals," Bansal told PTI. Hanung is more into manufacture of soft toys and it has been adhering to all safety norms right from its inception, Bansal claimed. "We have been taking special care while using dyes. We never use banned dyes," he said.
According to him, testing is "religiously" done of all products before their release into the market or delivery to clients.
Hanung, which had a turnover of Rs 281 crore last fiscal, has also finished transshipment of nearly Rs 40 crore orders of Christmas-themed toys for to Europe and the USA.
"We have been getting orders for Christmas toys since the past few years," he said. The company, set up in 1991, had a H1 turnover of Rs 205 crore this fiscal and aims to increase its profit by over 50 per cent than last year.
Hanung also manufactures decorative cushions, children's room furnishings and textile products. Its stuff toy brands are named "Play-n-Pets" and "Muskan".
Bansal also said the company has also been seriously involved in film merchandise. "When 'Koi Mil Gaya' was released, we launched our product Jadoo. Later we also brought out products based on characters from the children films 'Hanuman' and 'My Friend Ganesha'," he said.
During the last soccer World Cup, our products based on the moose (the mascot) were huge hits. We had made variants of the mascot wearing jerseys of different countries," he said.
Though Hanung's overseas clients have grown over the year's Bansal said the main market is still in India. "Our trademark toys are mainly aimed at the Indian children and there is a huge market out in the country," he said. Hanung products are found in chains like Archies, Lifestyle, Shoppers' Stop and Pantaloons.
At present, the company provides an expanded range of stuffed toys and home furnishings to markets like Europe, USA, Latin America and the Middle East.
In 2006, Hanung entered into a pact with Walt Disney Company to manufacture soft toys resembling characters like Mickey Mouse, Minnie Mouse, Donald Duck, Winnie the Pooh and others.