Toys are something that has been loved by everyone, be it small kids or adults. What can be better than making learning a fun experience for your child? So ToyKraft, an organisation is making this dream come true for many parents. With innovation, design and vivid graphics, this company has been making various toy products for different age groups since 2007.
In an exclusive interview, the founders of ToyKraft shared with us a few words about this out of the box startup.
To anyone who’s never come across ‘ToyKraft’, how would you describe it?
ToyKraft is a company filled with creativity; it has 200 original and successful toy products, strong back-end research team and a road map of more exciting toys and games to follow in the near future.
How involved are you with fundraising?
The funding basically comes from promoters, close associates and also a debt facility with the bankers.
What is the biggest hurdle you have faced or are still facing?
The biggest hurdle faced is lack of infrastructural support needed for diversified manufacturing in toys and lack of knowledge of parents to choose toys for their child as light, sound and motion are still favourite attributes.
Has ‘ToyKraft’ got the feedback and growth you expected since launch?
Growth has been impressive considering the current industry scenario and in the face of growing international competition. But, we had projected a higher growth for this time span. The feedback that we have received has been higher than our expectation.
Who do you see as your target audience?
Although toys are meant for children between 3 to 14 years, our main target audience at this stage is the young adult or the parents.
How do you differentiate from your competitors?
We feel that the word competition in toys is almost non-existent. It is a bitter fact that the toy manufacturing Industry in India is peanut compared to the world market. Our competition in the same toy categories at the current stage thrives on borrowed ideas or piracy. This works OK in Tier 3 and 4 towns which are currently not our targets.
Have you had any failures and what did you learn from them?
With the advent of competition from International toy companies, about 4 years ago we had tied up with 3 such companies to represent them in India. Initially the products did well and we increased our focus into imports. The Indian market at the top of the pyramid got saturated faster than we thought and the toys did not sell in the same numbers in subsequent years. At this stage we decided to get out of imports as our profits got blocked in inventory.
Where do you see ‘ToyKraft’ after 5 years?
We look at the brand optimistically as being No. 1 Indian manufacturer of indigenously developed toys both in India and in exports.
How important is the role of Social Media for success of any startup?
Well logically, very important. Especially if the target group is young adults or parents. Social Media is one of the most important touch points to reach out and it runs on ‘content’ and makes quick feedback possible at lower costs.
What are your plans for promoting ‘ToyKraft’?
ToyKraft as a brand aims to become a fun companion for children. Play is best ‘demonstrated’. So, we always have believed in connecting with our customers through workshops. Recently, we are also collaborating with college festivals. We are also associated with IIT’s Mood Indigo 2013 where we will be hosting the CHECOLO Gaming Competition.
Do you have any tie-ups?
We launch games for Hindustan Times, Tara Jewellers and few popular games of American and European game designers. We hold licenses to manufacture and market two party games by PATCH games USA. Apart from this we even work with a French game designer ‘Roberto Fraga’. The latest game that we have launched is called SABurbia for SAB TV.
What more do you wish to include to take ‘ToyKraft’ to the next level?
Today as we stand at 200 products, we target to expand & diversify our range further with around 150 products in next 3 years. As far as next level is concerned we will focus on additional manufacturing capacities that meet international norms. We have successfully implemented ERP system which has helped us with the production during our growth stage.
In this age where toys are vital part of one’s life ToyKraft provides exciting opportunities for kids’ learning and even enhances child’s imagination and progress.
Do visit their website! ToyKraft