Ty brand of Toys enters Indian Toy market

Ty Inc, USA the manufacturer of the fastest selling collection of soft toys in the world forays in to Rs 1500 crore Indian Toy market through its Indian partner Ty Toy (India) Pvt. Ltd. Ty is the manufacturer of the fastest selling collection of soft toys in the world. Ty is the world leader in the sales of plush toys. The six categories range which is being launched nationally at Hyderabad includes Beanie Babies, Beanie Babies 2.0, Pluffies, Punkies, Ty Classic, and Ty Girlz. The red Ty Heart Logo Toys are popular across the globe including India. Ty Inc has more than 200 designs and varieties.

Founded in 1986 by Ty Warner, creator of the widely popular Beanie Babies, all the product line of Ty Toys are most sought after in India. To begin with, these products will be available in Hyderabad, soon will be expanded to southern states and select towns in India such as Mumbai, Delhi, Kolkata, Pune etc. We will make Ty Toys available only in Specialty Retail locations, Hypermarkets and Departmental Stores only. We are not a mass product, added Srini Bonthu, CFO of Ty Toy (India) Pvt Ltd speaking immediately after the launching of the product.

"We are very excited about our entry in Indian market. Globally we are present in more than 20 countries. Many factors such as increased awareness, increasing spend on kids toys as learning tools, growing need for safety toys, emergence of the nuclear family etc are some of the factors why India has become a key and focused market for us. Globalisation increased travel to western countries, non resident Indian kids relocating to India identify with Ty Toys, also consumers in India are aware of best of the Internaitonal brands and demand the same.

For the past 23 years, we have led the plush industry in innovation, craftsmanship and value. Our red heart hangtag is globally recognized. We are committed to providing the highest level of quality, original design and the greatest value in every piece we create informed Padmakar Damaraju, CEO of Ty Toy (India) Pvt. Ltd .

The Ty Toys price range is affordable to Indian consumers and starts from Rs 189/- and goes upto Rs 1200/-. We plan to achieve a sales target of Rs 10 crore in the first year of our operations," informed Padmakar.

It is estimated that the Indian Toy Market is somewhere around Rs 1500 crore. It is set to grow at 25%. There are about 5,000 different designs available in India and about 50 new designs are introduced every month to meet consumers' taste. India faces big challenges from the unorganised sector which contributes about 70 per cent of the total toys demand.

Ty Inc is believed to have earned over 700 million in profits in a year.