Funskool
 | |
| Company type | Joint venture |
|---|---|
| Industry | |
| Founded | Madras, Tamil Nadu, India (1987) |
| Headquarters | Tarapore Towers, 6th Floor, 826, Anna Salai, Chennai, Tamil Nadu , India |
Number of locations | 13 (April 2016) |
Area served | Worldwide |
Key people | R Jeswant (CEO) |
| Revenue |  ₹235 crore (US$28 million) (FY18) |
| Owners |
|
| Website | www |
Funskool (India) Ltd. is an Indian toy manufacturing company, founded in 1987 with headquarters in Chennai, Tamil Nadu. Apart from its own brands, 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]
Funskool has become the first Indian toy manufacturer to get certified by the Bureau of Indian Standards for Safety for electric toys. It has received certification IS 15644 for the manufacturing plant based in Goa.[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 has published the Monopoly board game in India since 1987. The company released Monopoly:India Edition in 2008, with spaces on the board named after Indian cities and railway stations.[citation needed]
Funskool's licence to manufacture Lego products was discontinued in 2019.[4]
Funskool products are currently exported to Africa, Bangladesh, Bhutan, Europe, the Gulf Cooperation Council countries, Maldives, Nepal, Sri Lanka, and the United States.[7][8][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]
Most Funskool stores are operated by franchisees.[2] As of April 2017, there are 20 Funskool stores nationwide.
References
- ^ a b c Narasimhan, T E (19 August 2013). "Funskool goes in search of larger shelf space". Business Standard. Retrieved 29 November 2018.
- ^ a b c Law, Abhishek. "Funskool keen to enter tier-II cities". The Hindu Business Line. Retrieved 14 April 2016.
- ^ Menon, Bindu D. "Funskool to go beyond metros; bet on private brands". The Hindu Business Line. Retrieved 14 April 2016.
- ^ a b c "Funskool new unit with Rs 25 cr outlay in Tamil Nadu". Business Standard India. 20 March 2019. Retrieved 24 March 2019.
- ^ "Funskool become first toy manufacturer to get BIS certification". cnbctv18.com. Retrieved 29 October 2020.
- ^ a b c d e "Funskool raises its game". Retrieved 14 April 2016.
- ^ V, NARAYANAN. "Funskool ties up with international brands to expand product portfolio". @businessline. Retrieved 26 January 2020.
- ^ "Funskool to play with own brands". Deccan Herald. Retrieved 14 April 2016.