Indore: A top executive from Candytoy Corporate stated that the company has teamed up with Reliance Retail to provide candy toys to 1,400 stores of the top retailer in the country. The company from Indore made a deal with Reliance Retail a few months ago, according to founder Director Gaurav Mirchandani. Mirchandani informed PTI that currently there is a purchase order for over 15 outlets, with 200 outlets expected to be active by Diwali, and 1,400 outlets to be active by the end of the fiscal year.
Inquired about the order volume, he mentioned that it would amount to Rs two crore per month from 200 Reliance Retail stores, with plans to increase it to Rs 4 to 4.5 crore monthly by the fiscal year's end. He mentioned that we offer over 75 SKUs in the candy category, including both sweets and savoury flavors, to Reliance Retail. Candytoy Corporate (CTC), with a valuation of almost Rs 1,000 crore, distributes its products to retail outlets worldwide in 40 countries. It also intends to sell approximately 10% of its shares to support its future growth strategies, and is considering going public within the next 2-3 years.
CTC produces promotional toys and confectionery items worldwide, operating through five plants and 11 contract manufacturers. Their products are distributed to 40 countries on three continents. Regarding the company's revenue, Mirchandani stated that they anticipate ending this fiscal year with Rs 260 to 280 crore. In the upcoming fiscal year, we anticipate ending somewhere between Rs 400 crore and Rs 450 crore. CTC produces candy toys for various companies such as Colgate Palmolive, Puma, MTR, Bournvita, Yellow Diamonds, Vistara Airlines, and AirAsia, among many others. We have the purchase orders ready, but we require time for new mold opening, new facility opening, and other related tasks to fulfill these orders. Therefore, the outcome will be apparent in the upcoming fiscal year," he announced.
CTC anticipates receiving approximately Rs 120 crore from export markets and Rs 200 crore from the domestic market, including B2C sales and channel partners, in this fiscal year, he mentioned. Mirchandani stated that they are currently in discussions with some major investors regarding raising funds. Regarding the IPO, he mentioned that they will consider going public in the years following the end of the 2026-27 financial year. In India, CTC manufacturers produce a variety of toys such as promotional toys, Candy Toys, Barbie dolls, electronic toys, DIY Toys, LED Toys, Musical Toys, Prank Toys, Sticky Toys, and more.
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