Tuesday, May 21 2024 | Time 02:34 Hrs(IST)
Business Economy

Funskool eyes global growth, expands factories in India

Kolkata, Apr 17 (UNI) Funskool India, India’s leading toy manufacturer, has announced a significant expansion of its facilities in Ranipet, Tamil Nadu.
This expansion includes an addition of 163,000 square feet to its existing premises, effectively doubling the Company’s manufacturing capacity, according to a media statement on Wednesday.
The upgraded facilities in both Unit 1 and Unit 2 represent a substantial investment in Funskool's production capabilities. In addition to the 2 units at Ranipet, Funskool also has 162664 square feet of manufacturing space in its first plant at Goa.
Arun Mammen, Chairman of Funskool India Ltd and Vice Chairman & Managing Director of MRF Limited, remarked while inaugurating the upgraded facilities at both the Ranipet plants on Friday 12th April 2024, “Funskool India has experienced remarkable growth over the years. With this expansion, we solidify our position as a leader in India’s toy industry and move closer to our goal of transforming India into a global hub for toy manufacturing.”
R Jeswant, CEO of Funskool India Ltd, added, "Our commitment to the 'Make in India' initiative is stronger than ever. This expansion not only meets the Manufacturing needs of rising domestic demand but Exports as well. In addition to increasing capacity, Funskool’ s expansion allows for the production of a wider range of toys, including both plastic and wooden varieties. A dedicated wing within the expanded campus has started focussing on the manufacturing of wooden toys, aligning with Funskool’ s strategic growth objectives.”
K A Shabir, Vice President of Manufacturing & International Division, noted “The expansion was driven by a significant increase in export demand, with sizable growth over the previous year. “Funskool is now a preferred OEM supplier for international brands who view India as a reliable sourcing destination. Also, Funskool’s own brands are now being exported to over 35 countries.”
Highlighting the company’s commitment to social responsibility, the workforce at the Ranipet plants comprises 80 per cent women reinforcing Funskool’s dedication to empowering women and their critical role in national development.
Moreover, both factories in Ranipet utilize solar energy for running the plants, underscoring Funskool’s commitment to sustainability. Funskool recognizes the importance of sustainability and other practices in promoting fair dealing, ensuring health & safety and managing environmental impact in all operations.
Funskool has consistently been expanding its product portfolio through its homegrown brands such as Giggles, Fundough, Handicrafts, Games and Play&Learn, apart from numerous tie-ups with international toy manufacturing giants.
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