Funskool (India) Ltd.
TypeJoint venture
Industry
FoundedMadras, Tamil Nadu, India (1987 (1987))
HeadquartersTarapore Towers, 6th Floor, 826, Anna Salai,
Chennai, Tamil Nadu
,
India
Number of locations
13 (April 2016)
Area served
Worldwide
Key people
R Jeswant (CEO)
RevenueIncrease ₹235 crore (US$29 million) (FY18)
Owners
Websitewww.funskoolindia.com

Funskool (India) Ltd. is an Indian toy manufacturing company, founded in 1987 with headquarters in Chennai, Tamil Nadu. Apart from its own brands and its American counterpart Playskool, the company also manufactures and distributes products in the Indian market under license from foreign toy brands including Hasbro, Disney, Warner Bros., Takara Tomy, and Ravensburger.[1]

History

Funskool was established in 1987 as a joint venture by MRF Ltd. and American toy manufacturer Hasbro, Inc.[2] The company began commercial operations the following year.[1] Funskool manufactures all its products (including licensed products) at manufacturing facilities in Ranipet, near Chennai, and in Goa.[3] Funskool opened its third manufacturing at Ranipet on 20 March 2019, which is dedicated to handling exports.[4][5]

The company's main competitors in the Indian market are Mattel and FisherPrice.[1] In 2014, Funskool surpassed Mattel to become the market leader in the mid to premium range of the Indian toy market.[6]

Funskool's licence to manufacture Lego products was discontinued in 2019.[4] In June 2022, the company acquired the rights to manufacture and distribute the board game Abalone from Asmodee.[7] In July 2022, Funskool acquired the licence to manufacture action figures based on characters from Green Gold Animations' Chhota Bheem series.[8]

Funskool products are currently exported to Africa, Bangladesh, Bhutan, Europe, the Gulf Cooperation Council countries, Maldives, Nepal, Sri Lanka, and the United States.[9][10][6][4]

Stores

Funskool opened a Lego store in Chennai in 2013.[6] Following the success of the venture, the company opened the first Funskool store in Coimbatore in March 2014.[2][6] By September 2015, the company had opened one store each in eight cities across the country.[6]

Funskool Store, Chennai, Tamil Nadu, India.

Most Funskool stores are operated by franchisees.[2] As of February 2021, there are 18 Funskool stores nationwide.[11]

Display at Funskool Store in Chennai, Tamil Nadu, India.

References

  1. 1 2 3 Narasimhan, T E (19 August 2013). "Funskool goes in search of larger shelf space". Business Standard. Archived from the original on 30 November 2018. Retrieved 29 November 2018.
  2. 1 2 3 Law, Abhishek. "Funskool keen to enter tier-II cities". The Hindu Business Line. Archived from the original on 2 July 2021. Retrieved 14 April 2016.
  3. ↑ Menon, Bindu D. "Funskool to go beyond metros; bet on private brands". The Hindu Business Line. Archived from the original on 2 July 2021. Retrieved 14 April 2016.
  4. 1 2 3 "Funskool new unit with Rs 25 cr outlay in Tamil Nadu". Business Standard India. 20 March 2019. Archived from the original on 24 March 2019. Retrieved 24 March 2019.
  5. ↑ "Funskool become first toy manufacturer to get BIS certification". cnbctv18.com. Archived from the original on 4 November 2020. Retrieved 29 October 2020.
  6. 1 2 3 4 5 "Funskool raises its game". Archived from the original on 7 April 2016. Retrieved 14 April 2016.
  7. ↑ Bureau, BL Chennai (8 June 2022). "Funskool obtains manufacturing and distribution rights for Abalone board game in India". www.thehindubusinessline.com. Retrieved 23 August 2022.
  8. ↑ "Funskool to make and distribute Chhota Bheem in India". The Hindu. 14 July 2022. ISSN 0971-751X. Retrieved 23 August 2022.
  9. ↑ V, NARAYANAN. "Funskool ties up with international brands to expand product portfolio". @businessline. Archived from the original on 26 January 2020. Retrieved 26 January 2020.
  10. ↑ "Funskool to play with own brands". Deccan Herald. Archived from the original on 20 October 2016. Retrieved 14 April 2016.
  11. ↑ "Number of Funskool retail stores". Archived from the original on 1 December 2020. Retrieved 2 July 2021.
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