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Prowl, the German multi-brand toy retailer, is gearing up to enter the Indian toy market.
The company has finalised a marketing and distribution agreement with Kochi-based Zaal Commercial to introduce its four brands in India.
This is even as the company is preparing to apply for approval from the Foreign Investment Promotion Board.
“Besides the distribution arrangement, we are also scouting to set up an original equipment manufacturing unit for our brands in India. Also on cards is setting up mono-brand stores,” Rajesh Padmanabhan, Managing Director, Prowl, told Business Line.
The company said it plans to invest about Rs 80 crore in the first phase of expansion in the domestic market.
Prowl mainly has four brands, including Nip, the infant and babycare segment; wooden toys brand Hess-Spielzeug; portable baby beds brand Deryan; and Spiegelburg International’s concept and character-based products range.
Distributors
Padmanabhan said the company had so far launched Nip in India and has been retailing it in Andhra Pradesh, Karnataka, Tamil Nadu and Kerala.
“We plan to introduce it in North India soon,” he added. Prowl is looking at appointing more distributors, launching more products and establishing an all-India distribution presence in the next six months.
Sunil Nanda, President, Toy Association of India, said, “The Indian toy market is facing an onslaught from Chinese toymakers. But the good news is that international brands are looking at India among other countries as a sourcing destination for toys. Toys are becoming a lifestyle product and there is huge opportunity both in retail and manufacturing.”
Indian toy market
The Indian toy market is highly fragmented, with few pan-India players. International brands such as Simba-Dicky and Hamleys are also looking to establish their brands in India.
Other brands such as Funskool, Dash and Mattel also have a presence in the Rs 2.7 billion toy market in India.
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