German toys to enter Indian market in big way
KidsKinder Dreams India Ltd, an Indo-German joint venture, will invest Rs.10 crore over the next two years to hard-sell German toys and child care brands through its retail chain in 25 cities across the country, its founder said Monday.
"We are investing Rs.100 million (Rs.10 crore) to bring top brands of German toys and child care products to Indian kids through our six stores in Bangalore by March 2014 and 25 stores across tier-I and tier-II cities by 2015," KidsKinder founder and managing director S. Sampath Kumar told reporters here at a pre-launch event.
The joint venture is soon opening its flagship store at M.G. Mall in the upscale locality on M.G Road junction to showcase six top German brands of toys and child care products like Bubchen, Playmobil, NICI, HABA, Rebel Kidz and JAMARA.
"The USD 12-billion Indian toy industry, though fragmented, is projected to growth at 15 percent annually to touch USD 21 billion by 2015, as spending on toys and games is growing faster than other Asian countries," Kumar said quoting from a recent study by Euromonitor, a London-based global marketing research firm.
The study found that spending on toys in India shot up by a whopping 157 percent in 2012 as against 84 percent in China, 35 percent in Taiwan, 33 percent in South Korea and 17 percent in Singapore.
With the highest number of babies in the world, the Indian baby skincare market is projected to grow at around 16 percent this fiscal.
"Our business model will include both stand alone stores and shop-in-shop formats. We will also distribute our products to other retail stores overtime," Kinderdreams co-founder and director Jens von Ruden said on the occasion.
The company's range of products will also be soon available online on its e-commerce partner Flipkart.com.
"We are looking at a sales turnover of Rs.400 crore by 2015 by expanding our presences a rapid pace through a network of stores, franchises and distributing partners," Kumar said.
Bubchen, a subsidiary of the Nestle group, makes baby skin care products; Playmobil is Germany's leading toy manufacturing brand; NICI specialises in gifts and accessories; HABA- a award-winning brand in wooden toys and kids' furniture; RebelKidz is creator of stylish learner bikes for children and JAMARA is for children replete with technology.
(Posted on 19-08-2013)