CHENNAI: A spurt in anti-China sentiment in several regions across the world has resulted in a boost in exports as far as local toy manufacturer Funskool is concerned. According to the firm’s chief executive officer R Jeswant, Funskool has seen a twenty per cent year-on-year increase in its exports over the past two-three months.
“After the Covid-19 pandemic, enquiries for sourcing toys from foreign companies have gone up sharply. Our exports are doing significantly well,” Jeswant, CEO of Funskool India, told this publication. He went to point out that this has had a positive impact on business and that this year’s export revenue may be higher with demand from other global toy-makers rising significantly higher.
Despite the slump in the domestic market, the company is confident that growth in exports will help it in achieving a turnover at par with last year. “Summer vacations are the peak business months for us, but the lockdown resulted in a complete washout. The domestic market is slowly reviving but we will only be able to reach our pre-Covid level in the October- December quarter,” said Jeswant.
To cater to the rising consumer base and attract more customers, the company also plans to launch at least 100-120 new products this financial year. The new launches will include board games, wooden toys, educational toys, and even play stations. After the PM’s recent emphasis on local toy production, the company is also contemplating working on the traditional toys segment.
“We have plans to bring out traditional toys, but the project may take some time as we have to do a lot of research and planning on it,” Jeswant noted. The company has two plants in Ranipet, Tamil Nadu, and one in Goa.