Multicolored interlocking plastic bricks along with an array of gears and small figurines that can be assembled and connected in various ways to create and construct vehicles, buildings, working robots, and many other objects bring back childhood memories of playing with Legos. The brilliance of these pieces lies in their ability to be taken apart and re-used to build and construct new things. The brand, Lego, which is the world’s leading toy manufacturer today, derived its name from the Danish phrase ‘leg godt’ that means ‘play well’.
Commonly known as Lego bricks, the creative toys are currently sold in 130 countries. The brand recorded sales worth USD 3.6 billion in the first half of 2021 which was up by 46% YOY. It also owns 10 theme parks, a movie franchise, and above 600 stores globally. It has increased its product line to include DUPLO (which are larger bricks for younger children who are unable to handle smaller bricks) and a range of yellow Minifigures appearing in the company’s themed play sets. The company, which has marked 90 years in existence has been through a winding road of challenges and obstacles to reach the success pinnacle that makes it an unrivaled global toy empire today.
The year was 1932 and the world was going through tough economic crises. Ole Kirk Kristiansen, a carpenter in a small Denmark town, Billund, reapplied his skills to make wooden toys like cars, airplanes, etc. He named his company ‘Lego’ to reflect the quality of his products. In the year 1936, Kristiansen created a motto for his company, which when translated from Danish means “only the best is good enough”. A few years later, he was facing difficulty in sourcing wooden materials to make toys and turned his attention to the possibility of using plastic to continue manufacturing.
Wooden Lego
By 1947, Kristiansen expanded his manufacturing capacity to produce plastic toys and within the next two years, Lego began making their new interlocking bricks and called them ‘Automatic Binding Bricks’ – the early version of the now familiar interlocking tiles. Within the next four years, by 1951, almost half of the Lego-produced toys were made from plastic. Over the years, plastic toys from Lego have overcome the common anti-plastic sentiment, especially in children’s toys. This is mainly due to the high-quality standards set by its founder.
The Growth
It was Godtfred, Kristiansen’s son, who saw the immense potential in the Lego bricks to become a system for creative play through his conversation with an overseas buyer. Rising the company’s ladder to become the junior managing director in 1954, he set about correcting a few technical issues that existed with the bricks, like versatility and their limited locking ability. By 1958, the modern brick design was finalized and the company filed a patent application for it in Denmark on 28th January 1958. Godtfred said – “We wanted to create a toy that prepares the child for life, appealing to their imagination and developing the creative urge and joy of creation that is the driving force in every human being.” In the next few years, Lego also filed design patents in various other countries.
The DUPLO product line focuses on a range of simple blocks that are double in length, width, height, and depth and was introduced in the year 1969 for younger children. Almost a decade later, in 1978, Lego introduced the Minifigures which have become a staple in most of their play sets.
Minifigures – Lego
Two decades later, in 1998, Lego introduced a product line of bricks that was embedded with microchips to create programmable robotic packs. In the same year, the company was inducted into the US National Toy Hall of Fame. A couple of years later, Lego was named the toy of the century by the British Association of Toy Retailers.
Lego was crowned as the ‘world’s most powerful brand’ in February 2015 by the marketing consulting company, Brand Finance.
Brand Inclusivity
Over the years, the brand has spent heavily to remain relevant in an ever-evolving consumer market. Currently leading Lego is the grandchild of the founder, Kjeld Kirk Kristiansen. The toy company is producing bricks that are, even now, compatible with those that were produced in 1958. Lego has made significant announcements in 2021 that reflect the company’s deep understanding of a changing society.
Lego’s first announcement was that the company planned to remove gender bias from its products to curtail the harmful effects of stereotypes on the ambition of children. The second announcement was made in March of 2021 as it unveiled ‘Everyone is Awesome’ – the set that explicitly celebrated the LGBTQ+ community.
LEGO – Everyone is Awesome
The Economy of Lego
Lego’s journey to greatness has not been without its obstacles and challenges. But the brand has emerged from its battles ‘the Lego way’.
After filing the first design patent in 1958, the company sailed smoothly for three decades on the founder’s original ideas with no research into emerging trends or new markets. Troubles began when their patents expired in 1988. Apart from dealing with Lego-inspired copies cropping up in the market, the company was also faced with a newer version of child entertainment – video games.
By the late nineties, Lego was struggling for survival. To renew interest in their brick-building sets and keep the brand alive, the company spent enormously to develop television shows, beginning with Jack Stone, a versatile character appearing in various avatars who builds machines to catch criminals. The show was a complete failure along with another one titled Galidor: Defenders of the Outer Dimension. At this time, the only product brand that was keeping the company afloat was ‘Bionicle’.
A Complete Failure – Jack Stone Lego
Lego saw a small success when they sold their first group of Star Wars-themed sets around the release of the movie. However, the next year these sets did not sell as there was no Star Wars movie releasing and Lego had to absorb substantial losses. They repeated the same mistake with the Harry Potter sets and almost filed for bankruptcy. By the year 2003, Lego had built a debt of USD 800 million and recorded a 30% revenue decline.
Bionicle and Star War Lego
In a last-ditch effort to save the company, the board changed the management structure and a new CEO was brought in. This proved to be the correct move as he proceeded to make immediate and necessary changes by shutting down most of the unprofitable ventures for Lego. The company began diversifying by finding many production partners creating a channel of reliable income. Lego started creating and telling stories of the brands they partnered with. They began making their own stories and shows and their 2011 show Lego Ninjago proved to be hugely successful. This was followed by another successful show in 2013 – Legends of Chima.
Lego Ninjago
The Lego Movie which was released in 2014 recorded box office collections of USD 468 million. Riding on this success, the CEO Jorgen Vig Knudstorp said – “This has been the best year ever for the Lego Group. If I could sing and dance, I should be singing and dancing because it is a fantastic number of results.” The success of this movie resulted in a sequel and two spin-offs titled The Lego Movie 2: The Second Part, The Lego Batman Movie, and The Lego Ninjago Movie.
The Lego Movie
Conclusion
With the severity of the downturns that Lego endured, it is truly a miracle that the brand has managed to not only turn around but rise to its former glory again. Their business economics is focused on telling stories that people love. These, in turn, are fueling their sales. The 90-year-old brand has traveled a road with a few twists, turns, and bumps and has emerged stronger leading the global toy market with aplomb and glory.
FAQs
What is a Lego toy?
Lego bricks are colorful plastic building blocks that can be joined together easily to make a tower, house, and more. It is the most popular building toy in the world.
What is the average cost of Lego?
This value can be calculated by dividing the total set price by the number of bricks.
What is the target audience of Lego?
The main target market for the Lego Company is children between the ages of 1-15 years.
Is Lego suitable for all ages?
Yes, Lego is suitable for all ages. They offer Lego sets for children and adults in all age groups.
Savings and investments are key to securing your future. While investing in stocks and NFTs (Non-fungible tokens) is the trend today, when putting money in any asset tangible or intangible you always look for safety, return on investment, and profit. Therefore, people invest in assets like gold, shares, and property.
With time and money, the way people invest and what is changing at a rapid speed. And the people who run the world are significantly known to invest and put their money in all sorts of weird, strange, crazy, unimaginable instruments.
Have you ever considered investing in something but don’t know where to start? Don’t worry, we have got you covered here with the list of some weird alternatives that people have explored and invested in. So let’s get started with the top 10 unusual investment ideas to try once.
Amazing Fantasy No.15 – It is the world’s most expensive comic book sold at $3.6 million.
You could have been collecting comic books just as a hobby, reading them for fun, and adding them to your precious collection. That’s what comic books are for, right? But have you ever wondered what their worth might be? Believe it or not, comic books have a whole industry of their own that holds confidence and carries confidence.
Comic books have become collectibles. Research has shown that comic books and collectibles have both doubled in price. People have been investing in comic books that are popular and valuable and in comics that are from the Silver Age, the Bronze Age, and the Golden Age.
Some of the factors that are considered and matter when investing in comic books are whether they are vintage, popular, limited edition, their condition, and more. The main reason that the industry is seeing a lot of growth is that every book is different, unique, and scarce. Aside from that, the ROI (return on investments) in comics is obvious.
The Amazing Fantasy No. 15 the first comic featuring Captain America, Action Comics, and All-Star comics are some of the most expensive comic books sold in the world.
Cannabis and Cannabis Stocks
The first thing you should know about investing in cannabis stocks is that they are very risky. Initially, cannabis stocks were sold in the year 2021, and you are right to wonder what happened when the pandemic hit. Demand and supply fluctuation has affected the industry in the short and long term.
In addition to the pandemic, political dynamics are another factor that impacts the industry, as they influence the legalization of controlled substances and the laws enacted regarding them.
As a result, they play a major role in growth prospects. Despite the imbalance created in the market, some stocks have seized the opportunity for expansion and growth. In particular, companies that have experienced robust growth and profit are expected to do well in the future.
Hobby Farmland (A Beekeeper)
Google’s strangest investment to date. These investments appear to be an odd choice, as they nowhere fit with the brand personality or portfolio. The motive behind investing in the beekeeper by the chef at Google was to have bees nearby, to have fresh honey at hand.
And just in case you are wondering, the beekeeper takes care of four nests at the Google campus. This can be taken as an example of hobby farmland. Hobby farmland stands for a small-scale farm that is primarily done for pleasure rather than money. But it can surely be converted into an investment plan in the future.
This is just one example, but another reason for investing in a beekeeper would be to reap the rewards from the beekeepers maintaining and managing your bee hives to help generate the high-demand bee products that come from them. Not to mention all the delicious honey produced from it. One could also do it as a hobby to make some additional income or just help the bees.
Rare Books
Codex Leicester by Da Vinci – Currently owned by Bill Gates
If you are a bookworm who has a knack for smelling books, fantasize about being locked in a library. You might also collect the first editions of your favorite signed copies of novels.
Or any other significant or rare books from the world of literature. Investing in rare books might be for you. To be honest, investing in rare books isn’t that strange. Investing in this tangible asset will provide a high return on your investment.
Bill Gates owns the handwritten “Codex Leicester” by Da Vinci, which he purchased from Armand Hammer for $30.4 million. Da Vinci wrote about it in 1504-1508. Hammer bought it for 5.1 million. Also listed as one of the most expensive books in the world.
Certain aspects that make a book rare are the impact that it leaves on the world and that it continues to make. It depends on its popularity, completeness, and desirability to the public. Usually, the books that are first editions are the most sought-after because of their historical significance and the time when they first made an impact.
For example, the series of Harry Potter books written by J.K. Rowling in 1997 changed the perspective of the world. The very first edition of the philosopher’s stone is valued at $40,000 to $50,000 by collectors today written under her name as name Joanne Rowling.
Wines
Wine continues to symbolize luxury and has been reserved exclusively for the wealthy, and the demand 2for it always keeps growing in the market. Though wine investments are often made to diversify one’s portfolio to get money.
The marketplace for investing in wines is one of the oldest markets that keeps growing and provides compelling results to its investors over the long term. Wine is becoming a popular alternative if you are looking to invest.
People invest in wines because the value of the wine rarely depreciates and is hardly affected by other aspects such as inflation, fluctuations in the stock markets, and the pandemic. It is long-lasting and rare and there is always an increase in demand.
It follows a simple economy and involves low risk. People over time are looking to invest in wine funds, stocks, and companies, buying premium vines and vineyards as technology is enabling the market to be accessible to everyone.
According to Fortune, the fine wine market is expected to grow from $340.23 to $456.76 billion from 2021-2028. Investing in wines is also considered a smart idea as it offers decent potential results.
An Example – Mercedes-Benz 300 SLR Rudolf Uhlenhaut coupe was auctioned at $143 Million
Sure, cars do take up space, maintenance, a lot of paperwork, and special knowledge to determine the cars’ histories and origins. Another world of investments is the niche of the world of cars.
The world’s most expensive car, the Mercedes-Benz 300 SLR Rudolf Uhlenhaut coupe, was sold for a whopping $143 million. This alone is enough to give you an impression of how huge the car market is.
Apart from investing and buying high-end vehicles, there is also the category of vintage cars or classic cars. The older the cars, the more value they gain over time. When the market took a hit due to the pandemic, it still increased.
You might have started your car collection as a hobby or just a craze. People investing in cars consider factors that affect their value including their condition, performance, rarity, brand, design, previous premiership history, and any other special features.
Toys
Making money from toys can be challenging until you use your logical thinking and understand what toys stand for. Toys mean different things to different people, and they evoke the feeling of nostalgia for everyone. Investing in toys can get you a viable return.
Among the factors one should consider before investing in toys are the manufacturer of the product, the availability of the product, and whether is it a limited production model. In the case of a limited-edition Marvel black panther toy, the fan base is just as significant as the emotional attachment.
The reputation of the company and its intellectual property rights. Last but not least, leaving the box unopened. Which is a very influential factor in driving the value of the toy or bringing it down.
In this case, the investors make the purchase to provide others with the unboxing experience since there is a great deal of hype surrounding the unboxing experience on YouTube. Investors take advantage of short-term sales as opposed to long-term holdings when the toys are popular, trending, and in high demand.
Real Estate
Long-term investing in real estate with the aim of generating profits. Investing in real estate is a reliable way of earning passive income with a steady monthly rental payment. Unlike when making other investments, you can pool cash from different sources when engaging in real estate, and it’s considered one of the safest investments a person can make.
In addition to the constant increase in demand for property, a simple renovation and change to the house will indirectly increase the value of a property. The other benefit of investing in real estate is paying fewer taxes to the government because the investors are considered developers that boost the economy.
It is similar to the stock market cycle in the world of real estate, where you can see substantial benefits as an investor. Real estate also comes with diversification that allows you to have something for everyone with different needs and different price points. Refinancing and liquidation are other plus poi overall you can easily increase your net worth when you invest in real estate.
Rare stamps
An Example of a Rare Stamp Investment
Rare stamps can get you a return of 45% annually. Investing in rare stamps is deemed good for the long term. Deciding to invest in rare stamps is not something that many people do but it is considered an alternative form of investment.
Their value is based on their rarity. Different dynamics affect and decide the value of the stamps. Which includes a stamp’s color soundness, centering, gum, perforation, and margin, and that the stamps are in good condition and prove to be worthy.
A pro tip if you are interested in investing in stamps is that you keep them away from sunlight, indoor lighting, dirt, pollution, and human contact. Which will prevent them from fading or bringing their value. Also, if you get the chance to invest in some rare 1800s stamps, you may be in luck.
Rare coins
An Example of a Rare Coin Investment Option
You should have a strategy in place and have good knowledge about the rare coins or collection of rare coins you are about to invest in. These rare coins are certified by either the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC).
The trading practices of rare coins are mostly done exclusively. Another factor apart from having good knowledge about the rare coins you invest in is time. The older the coin, the more valuable it is. Investing in rare coins is considered a stable investment as their value continues to constantly increase with time. Which makes it an excellent investment.
Investments can be made in tangible as well as non-tangible assets. People these days are not into stereotyping stuff that one should invest in. Rather they are open to investing in things that are considered weird and strange given their nature.
But still, these things make good investments as they provide viable results and a decent profit. Some of these things already have an established market while some are just making their way and creating a marketplace of their own.
FAQs
What is the smartest thing to invest in?
Some of the smartest things to invest in are stocks, mutual funds, cryptocurrencies, real estate, etc.
What is the most stable thing to invest in?
Some of the most stable things to invest in are high-dividend stocks, real estate investment trusts, online savings accounts, credit card points, etc.
What is a lazy investment?
A lazy investment means an investment where the majority of the process is autopilot and the investor is free from its crucial steps while just enjoying its benefits.
What are the 3 safest investments?
The 3 safest investments are treasury investments, Certificates of Deposits, and mutual bonds.
The global wholesale market grew from $42,048.41 billion in 2021 to $45,502.44 billion in 2022 at a CAGR of 8.2%. In August 2022, total wholesaler sales in the US amounted to almost $700 billion, an increase of about $100 billion year-on-year.
Wholesalers’ Monthly Sales in the US from Jan 2017 to Aug 2022
Are you thinking of starting your wholesale business but confused about where to begin? Don’t worry! We understand how overwhelming it can get when you try to start a new business.
Right now, you might be struggling with questions like what to sell, where to sell, how to start selling, how much capital you need to invest, and so on.
Here are answers to all your questions related to wholesale business to help you get ready for future challenges.
Let’s start with the very basics. The companies manufacture the products that are ultimately sold to the customers by the retail shopkeepers.
However, there is a connecting link between these two units i.e. manufacturer and seller, those are known as wholesale distributors. They manage and transfer the goods from the companies to the retailers.
They make a profit by buying the goods at a lower price from the companies and selling them to small or big shopkeepers at a higher price.
Majorly, wholesale distributors sell their products to retailers, contractors, merchants, institutional and commercial users, etc., who need bulk supplies.
As a wholesale distributor, you run an independently operated firm that buys products directly from the manufacturer, thus, taking ownership of the products. These products are stored in the warehouse, from where they are supplied to your customers. It is similar to the retail business except that you will be dealing in a B2B realm.
The wholesale industry is large. In the US there are about 330,000 companies involved in the wholesale distribution industry with an annual sale of around $7 trillion.
In this situation, you need to have certain skills to succeed in this business such as great negotiation skills, the ability to find the next bestseller before anyone else, and above all, amazing salesmanship to make a deal appear irresistible to your customers.
In addition to these skills you also need good operational and management skills, especially to handle backend activities such as warehouse setup and organization, shipping and receiving, etc.
This is a service business where you have to understand the need of your customers and find ways to serve them well or we should say better than your competitors.
Also, you will need a warehouse to keep your purchased goods. The size of the warehouse will vary as per the product/s you are dealing with. It is always important to have enough storage space as many wholesale businesses suffer losses owing to storage shortages.
It is also suggested to have a warehouse not very far off from the market so you can easily supply goods to the customers without incurring a high delivery cost.
However, the problem is that the prices of land at such places are quite high and usually beyond a beginner’s budget. In such a situation, it is advised to lease or rent a place.
If you do not store the goods at your facility and instead directly supply them from the manufacturer to the seller, you are working as a broker. The difference between a broker and a distributor is that the distributor takes the title and legal ownership of the product before selling them further.
The broker, on the other hand, uses dropshipping services and supplies the products directly from manufacturer to customer without bearing the storage costs.
How to start your wholesale business?
There are three ways to start a wholesale business. The first option is to start from scratch. This would require a good amount of investment both in terms of time and money, as well as a great deal of hard work as you will have to do everything on your own.
Establishing a warehouse, finding the right product to sell, choosing the buyers and sellers, etc., alone can be very hectic. The investment in this case will vary depending on the type of product you want to sell.
Alongside, you would also require a good knowledge of sales and marketing. It is a complete “make or break” scenario where everything is on your shoulders.
The second option is buying an existing business. This is a costly option and in addition to that, it has its kind of risk involved. The reputation and level of success of the previous owner would have a great impact on your business.
However, there are certain advantages associated with this business model. You will inherit the customer base along with the business as well as you can have the seller’s knowledge bank from the previous owner.
The third option is buying a business opportunity. This is the riskiest option out of all. You will have to explore all the business opportunities thoroughly before you finally decide to invest your time and money into them.
However, if you can finally strike the right opportunity it would mean quick success as you get support and training from the originating company.
Before you choose any of the above-mentioned options you will first have to analyze your financial situation. How much capital are you willing to invest in the beginning? It is a major question that is posed to every businessman at the initial stage.
The answer to this question will also decide the products that you will sell through your wholesale business. While considering the financial requirements you must also include the miscellaneous costs such as telephone, computer system, delivery vehicle, etc.
However, there are many ways to make your business cost-effective. Just like you can lease a space for a warehouse similarly you can collaborate with shipping companies such as FedEx for the delivery of your products without having to purchase a delivery vehicle or having a regular driver.
Moreover, you must also be sure about the time you are ready to devote to your business. For example, if you are doing a job you might only be looking after it part-time. Although full-time commitment is usually associated with speedy success you must remember that it requires at least 2-5 years to make a business profitable.
Once you are sure about which product you want to sell and how much time you are ready to invest the next step is to find reliable suppliers, who sell quality products at a reasonable price, and develop a good customer base.
When all your background work and checks are done you are finally ready to start your wholesale business. But, wait there are certain legal formalities you also need to take care of. For example, in India, you will have to obtain a trade license for your business that can be obtained from a local government body, and a GST registration is required for businesses that have a turnover of more than 20,00,000.
It is better to discuss this with a professional lawyer before you start so you can get all the necessary paperwork. Having all the legal formalities complete will not just leave you stress-free for the future but will also give you the confidence to move forward rapidly.
Once you start running the wholesale business your daily routine would include work such as sales and marketing operations, regularly contacting existing customers, processing orders, supporting dissatisfied customers, inventory control, etc. that require regular attention.
Having control of all these activities is the key to a successful wholesale business.
Who can be your customer?
As the customers form the foundation of any business you must specify your customer base beforehand. This will also help you to plan your business strategies well to meet their requirements and demands.
Moreover, remember the larger your customer base the more profitable your business gets. There are majorly three types of customer bases in any wholesale business. They are:
Retail businesses: These include retailers such as local shopkeepers, grocery stores, independent supermarkets, etc.
Retail distributors: These include distributors who can approach some retailers that may be unapproachable to you.
Other wholesale distributors: These may serve as your customers only when you have some exclusive contracts or limited deals in hand.
It is not necessary to choose only one of them as your customer, you can explore your opportunities while being in the market and escalate your customer base irrespective of their background.
Choosing the right product to sell
This is the most important question as the success of your wholesale business is completely dependent on choosing the right product at the right time for the right market.
Thorough market research is required to be done before you can finally answer this question. Moreover, you will need to pay attention to the right strategy of planning, price factor, and unique selling points.
Although the market keeps fluctuating but depending on our research here is the list of the 10 best wholesale products that can help you earn profit in the Indian market:
Organic foods
Homepage of One the Fast-Growing Organic Food Startups
With people becoming more and more health conscious the demand for organic food is rapidly increasing in the market. Although large numbers of people are already in this business there is still space for more.
Several new and old companies are entering this field owing to its recent attraction and these companies need distributors. This is where your role comes into the picture. You can approach these companies and help them create brand value for their products through your marketing and selling skills.
If you can capture the market this will help you grow as a wholesale distributor not just in the domestic but international market as well.
Agrochemical business
India is an agriculture-dominated country. Even today 54.6% of our total workforce is engaged in agricultural activities. This makes the wholesale distribution of agrochemicals a potential business opportunity.
The agriculture industry requires several pieces of equipment that can help you earn huge profits and opportunities. Then there are fertilizers, pesticides, insecticides, organic seeds, crops, and multiple other options to choose from.
If you have land near the countryside and the opportunity to start a wholesale business, investing in this industry can prove to be a breakthrough for you.
Furniture distribution
With the real estate business at its hype and an increasing number of startups and offices, furniture is in high demand. Moreover, owing to the post-pandemic era as most companies and offices are reopening they are looking for new interiors.
Therefore, this business may help you earn huge profits. Also, it is an easy-to-handle business that is required both in rural as well as urban areas.
Further, with the new advanced technology variety of furniture options are available in the market such as portable, multipurpose, all-in-one, etc. You can choose any of these options depending on the market where you want to sell your products.
Textile business
This business has the potential to create huge profit opportunities in the Indian market. There are a lot of products that you can sell to become a part of this wholesale business. For example, sewing machines, threads, textiles, readymade garments, accessories, safety clothing, upholstery, footwear, etc.
This business has served the old as well as new entrepreneurs to make their presence felt in the market.
However, initiating this business would require good field knowledge and preferably some job experience in the same field.
Jewelry business
Although this business would require a large amount of initial capital investment, it is one of the evergreen business options.
This would also require you to build a spotless image that can be trusted by your customers. Being a costly item people usually prefer to buy it from renowned sellers. This would also need a huge client base.
Ayurvedic medicine
Homepage of One the Wellness Food Startups in India
This is one of the most high-demand businesses. Today, people are turning towards yoga and Ayurveda for most of their health issues. Allopathic doctors are only consulted in the time of emergency.
This makes the ayurvedic medicine business one of the most profitable in recent times. Several companies are selling ayurvedic products ranging from medicines to haircare, skincare, and groceries. Also, there are categories like luxury products, pocket-friendly items, etc.
All these companies require good retailers who can help them reach their products to customers and establish them as trustworthy brands. Considering all this ayurvedic medicine business can be a great business opportunity.
Stationery business
Whether it is a school, college, or even a corporate house, stationery items are required everywhere. This is also one of the most profitable wholesale businesses in the market. Moreover, it does not require much investment.
To run a profitable business you will have to select your target market and sell the products to their needs.
The demand for toys may change with time and age but you have to select the target customer you want to cater to. You will have to find the right manufacturers producing good quality products and then bring them to the market for your customers.
These products have a huge profit margin and are always in demand. Therefore, wholesale distribution of children’s toys is an area full of opportunities.
Snacks
Just like toys, this is also a large and always in-demand market. There are a variety of snack options available in the market which are consumed by people of every age.
Health-conscious people may go for baked or non-fried snacks, children may prefer a different variety. But the market is large and so is the opportunity.
If you can choose the right snacks that are liked by your target customers, your business can flourish in no time.
Kitchenwares
Homepage of One the Top Home Appliances Brands in India
The kitchen is the essence of every household, and every kitchen requires utensils such as pans, cookers, serving dishes, crockery, etc. There are a variety of items that can be sold.
You have to find quality products for your customers and make them available at attractive prices or with offers they cannot resist.
Conclusion
Wholesale distribution is a timeless business that can be profitable provided that you can choose your product and industry well. Also, having reliable suppliers and a good customer base is a must for the wholesale business.
Also, you should have great negotiation skills along with the ability to find the next best product before your competitors. Good operational and management skills will help you make your mark in this field.
Finally, if you work hard, can choose the right product, and craft deals that are loved by your customers, your wholesale business is sure to succeed.
FAQs
How do I start my own wholesale business?
First of all, analyze your financial situation. Having a good knowledge of sales and marketing is an added advantage. You must also be sure about the time you are ready to devote to your business.
If you start from scratch, you will have to put energy into establishing a warehouse, finding the right product, choosing the buyers and sellers, etc. If you are ready to take the risk and have enough money, you can buy an existing business or a business opportunity.
Is wholesale a profitable business?
Yes, wholesale is a profitable business if you do it right. In August 2022, total wholesaler sales in the US amounted to an estimated value of almost $700 billion, which is an increase of about $100 billion year-on-year.
What are the skills required to start a wholesale distribution business?
Here are some of the skills required to start a wholesale distribution business:
Great negotiation skills
The ability to find the next bestseller before anyone else
Amazing salesmanship to make a deal appear irresistible to your customers.
Good operational and management skills, especially to handle backend activities such as warehouse setup and organization, shipping and receiving, etc.
While shopping for a child, one needs to be much more careful than shopping for an adult. The products have to be good and hygienic enough to be used by a kid after all every parent desires to provide their kids with the best things in the world. Extra precautions are taken whenever there is a child involved, the same goes with shopping, doesn’t matter, if you are doing it offline or online.
The E-commerce business in India has been thriving for over a decade. Now a day’s most of the shopping is done online, especially after the pandemic, people started indulging themselves in doing most of their business online.
Amongst hundreds of online shopping sites, Flipkart, Amazon, Myntra are some that are well known in this industry. Apart from all these, we also have different E-commerce sites that specially deal with the products of babies, kids, and mothers. One will find anything that a child and their parents can need in for them in here.
One of them is FirstCry, this offline and online store is said to be the largest store in Asia containing newborn babies and kids products. In this article, we will talk about the brand FirstCry and everything about it. So, let’s dive in.
“Ecommerce isn’t the cherry on the cake, it’s the new cake” – Jean Paul Ago
FirstCry was founded in the year 2010, on the month of September by Amitava Saha, Sanket Hattimattur, Prashant Jadav, and Supam Maheshwari. The main goal of the startup was to provide the best brands of baby care products to babies and their parents.
Any and every type of kids’ products can be found here, diapering, nursery products, apparel, toys, skincare, healthcare, and so many other things. Over 200k products can be found in FirstCry both from Indian and International brands.
FirstCry started its journey at a time when baby care products were not available to buy online. At that time, there was a big need for an online platform that will provide products for kids, so the founders sees an opportunity in this and launched FirstCry, the first online platform that is solely dedicated to kids.
Two subsidiaries Babyhug and Cutewalk are under FirstCry as well, a clothing label and a footwear label respectively. The headquarters of FirstCry is located in Pune, Maharashtra, India, and the company has more than 380 stores all over India. In 2019, FirstCry launched its first official outlet in Srinagar. It has more than 150 franchises in over 100 cities in India now.
As mentioned before any and every kind of babies and kids products are available in FirstCry. Some of them are:
Food Products by Firstcry
Chocolates
Candies
Sweets
Breakfast and Cereals
Snacks
Jams, Spreads, and Ketchup
Milk powder containers
Diapering and Baby Care Products by Firstcry
Diapers
Baby Wipes
Diaper Bags
Diaper Changing Maps
Bed Protectors
Potty Chairs and Seats
Baby lotion
Baby Shampoo
Apart from all these clothes, fashion accessories, footwear and toys are also available here.
Business Model and Revenue Model of FirstCry
FirstCry followed the Online-to-offline (O2O) business strategy which means it opened physical stores to attract its online customers to shop from their offline outlet as well.
FirstCry took an initiative and tied up with different hospitals all across the country; where whenever a baby gets delivered the parents receive ‘FirstCry Box’ as a way of saying Congratulations. Through this initiative, FirstCry was able to promote the brand in front of millions of new parents. The conversion rate was extremely high through this.
Supam Maheswari with Firstcry Gift Box
After adopting the hybrid business model, it is focusing on expanding the offline stores. They are also making money through products from BabyHug and Cutewalk.
Currently, the revenue of FirstCry is INR 897 Crores, and with its value of $1.9 Billion, it has added its name to the list of Unicorns in India. As of 2021 FirstCry has over 2000 employees working for it.
Goals, Challenges, Solution, and Competitors of Firstcry
The growth of a company is necessary and it can only be done when they fulfil all their goals and overcome all the challenges.
Goals of FirstCry
There are some aims that are the prime focus of FirstCry and they are:
The first goal is to increase the number of orders placed for the products.
Pursue the customers so that they can repeat their purchases.
To increase the average order value.
To increase customer engagement.
Challenges of FirstCry
The unorganized market is quite a problem.
Understanding the wants and behaviour of the parents is a hurdle here.
Solutions
To solve the challenges they have taken some steps and they are:
To understand the behaviours of the parents, a feature called Funnel analysis is being used.
Based on the purchase history and the behaviour of the users, products are recommended to them.
FirstCry learned the necessary techniques including user engagement pretty well, which lead to fulfilling their goals of repeated purchase and the increase in average order value. FirstCry now has experienced 10 million downloads on the Google Play store.
Being an E-commerce site specializing in baby products is actually a huge responsibility, especially when you are the first one to do that in the country. FirstCry does whatever they can to keep up with the name of being Asia’s biggest store that provides every kind of baby care product.
FAQ
Who is the owner of FirstCry?
FirstCry was founded by Supam Maheshwari and Amitava Saha.
Is FirstCry an Indian company?
FirstCry is an Indian online store for baby products. It was launched in the year 2010.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.
India has traditionally been a risk-averse market, and most toy distributors focused on traditional categories like dolls, vehicles, and guns. Then came WinMagic Toys, which was launched by Mukesh Jagwani and the senior management team in 2017, which disrupted in the toy industry by launching new trendy categories and global brands into the market.
Read this article to know about the success story of WinMagic Toys, founder, growth, vision, mission, and funding.
WinMagic Toys is a company that creates and distributes world-class marketable & unique products that bring happiness for kids and fulfillment for parents.
They aims to be the ‘go-to’ company that makes it easy for all the international brands desirous of entering India in the kids & games space! WinMagic Toys acts as a catalyst that ongoingly transforms the industry and promotes the cause of India at international platforms.
For the customers, it is a marketing-oriented company that always creates new and innovative categories at retail, provides a significant product or price differentiation, and drives strong communication campaigns to create consumer demand and affect shopper conversions at retail.
For the employees, it is a company that empowers them to create the future they dream of, for themselves and their families, which makes them spring into action every day.
WinMagic Toys is a company that delivers a veritable portfolio in its space, that touches consumers from birth to their full lifecycle. They sees their final play to be a company with two separate and equally thriving divisions, third party distribution and owned portfolio marketed globally, with a host of owned brands, being made in India!
WinMagic Toys – About and How it Works
WinMagic Toys creates and spreads happiness, pride, and oneness amongst kids and families! A full portfolio-kids’ product creation, manufacturing, marketing & distribution company, that touches consumers from birth & remains a companion for life, through its product offerings.
The company dominates the pre-school retail aisle with Paw Patrol, PJ Masks, and Peppa Pig toy lines that are the top 3 licensed content and toy properties globally as well as in India. Similarly, this fastest-growing toy company of India has also transformed the girls’ aisle with brands like L.O.L Surprise! Dolls, Hatchimals, and Shopkins.
Products
To ensure product quality, the company only works with global brands that are already supplying to the US and Europe. Their products comply with American Society for Testing and Materials (ASTM), European Standard EN 71, Bureau of Indian Standards (BIS) and other independent standards likes Facility and Merchandise Authorization (FAMA) certification by The Walt Disney Company.
Recently, the government of India conducted a survey where 66% of imported toys failed to comply with quality standards – these are all unbranded toys. WinMagic Laboratories have claimed that not even a single toy that it has offered into the country has ever failed a test.
WinMagic Toys – Products/Services
Fisher-Price and Thomas were given a run for their money, with WinMagic Toys distributing Spin Master’s – Paw Patrol, which is today the number 1 preschool licensed toy property at retail. Paw Patrol is a TV series that runs on Nick Junior, a content co-owned by Viacom and Canada’s Spin Master Entertainment (SME).
Paw Patrol Toys – WinMagic
Spin Master Toys, a top 5 listed toy company globally, and a sister concern of SME owns the global rights to Paw Patrol toys. Through its distribution partnership with Spin Master, WinMagic Toys brought into the country many trendy toy lines, like Hatchimals for example – that became toy retailer Hamleys’ number 1 selling toy when it was launched in 2016, while the inventory lasted.
Hatchimals – WinMagic
Hatchimals is an egg-shaped tech toy, that has a unique hatching feature, where with a kid’s love & care an electronic pet hatches itself out of an egg and there are various play possibilities at pre-hatching, during-hatching, and post-hatching stages. Hatchimals has since then developed into a veritable array of collectible and tech toys that have become one of the best-selling toy ranges in the girls’ aisle.
Through its partnership with Spin Master, the company is set to launch toy lines like Bakugan, a massive hit from a decade ago that is being relaunched by Spin Master globally, Batman & DCactionfigure lines based on the popular entertainment franchises and Monster Jam Monster vehicles lines based on World’s Number 1 Monster Truck racing show.
The company has created the category of girls collectibles in India literally from scratch. Shopkins, from Moose Toys of Australia, was its entry into the girl’s collectibles aisle which took the industry by pleasant surprise in 2015 and kickstarted the trend of girls collectibles in India, like in global markets a few years ago. Along with Hatchimals, L.O.L, Hairdorables from Just Play, Bananas, and Twisty Petz apart from others, WinMagic Toys has been leading in the girl’s collectibles category in the Indian toy industry.
WinMagic Toys – Target Market Size
With 26% of the population under the age of 15 years, it’s no surprise that the Indian toy industry is accelerating. Valued at USD 1.5 Billion in 2018, registering a CAGR of 15.9% during the year 2011-2018. According to market research firm IMARC, the market is further estimated to cross USD 3.3 Billion by 2024, growing at a CAGR of 13.3% during 2019-2024.
The estimated Rs 2-lakh-crore global toy market is dominated by China (from a manufacturing point of view, America is the biggest from a consumption point of view), which sells close to Rs 1.4 lakh crore worth of products annually. In India, the toy market is dominated by unbranded Chinese products with 90% of the market being unorganized.
In a post COVID scenario, toys & games, and in general kids play assumes even more relevance with kids and parents staying more at home.
Mukesh has over two decades of practice including leadership roles in setting up multinationals in India to leading start-ups to profitability and turnover goals. He is a complete believer in empowering people to be the best they can be, unconditionally, and, in keeping commitments ruthlessly!
The management team comprises of:
Heena Natu – National Sales Manager (Key Accounts & Exports) with over 13 years of experience in modern trade (retail chains) account management, ex Mattel, Ex Pepe Jeans.
Shailesh Kumar – National Sales Manager – General Trade with over 18 years of experience in general trade distribution, Ex Funskool, Ex Nuby.
Surabhi Mathur – Marketing Manager (INDIA & SAARC) with over 10 years of experience in Marketing communications – ex EURO RSCG, EX Times of India, Ex Business Standard.
Sandeep Nirban – Finance Manager. Chartered Accountant, MBF with over 7 years of experience, Ex Reliance, CIPLA.
Heena, Shailesh, and Surabhi are part of the founding team along with Mukesh.
The current company size of WinMagic Toys is around 50 employees. The recruiting team is very selective about hiring talent. They always look for character and not personality. Since the team firmly believes that character is in-built and personality is what you acquire and get trained in.
To elaborate, they look for qualities like energy, enthusiasm, willingness & intent to take responsibility for not only their job description but also have a natural intent to help & support others, humility, integrity, and authenticity. In addition to character traits, they work on training people on maturity and ability to get things done through a work environment that is straightforward and holds people to account.
They focus a lot on training people for their development and growth – not just for business but overall holistic growth of an individual and the team looks at life as one. Not a split between work and life. When people grow, they bring all about growth to be it at home or work.
WinMagic Toys – Name, Tagline, and Logo
Winners with the magic of play made WinMagic Toys!
WinMagic Logo
WinMagic Toys – Startup Launch
WinMagic Toys are known for their freshness and new ways to play at retail. Since its inception, India has seen some of the categories that never existed in the country in the toys and games aisle before. It created Collectables as a category with iconic brands like Shopkins. They launched all globally successful brands including – LOL Surprise! Dolls, Hatchimals Colleggtibles, Hairdorables, Soft n Slo – squishable, etc.
WinMagic Toys always offers brands and play patterns that are trending globally. They are dominating the retail aisles with the latest DIY trends. For the girls, the categories were limited to dolls and a few accessories, however, the company has brought all these different categories into the country.
Preschool aisles were dominated traditionally by brands like Thomas or Fisher-Price which are owned by legacy players like Mattel, who has been in the country for 30 years. And nothing changed for the past 30 years, companies were averse to getting anything new to India. But, WinMagic Toys decided to change that and offered consumers products that have been trending globally and created that access for Indian consumers to world-class toys.
It launched the 3 biggest Preschool properties in India- Paw Patrol, Peppa Pig, and PJ Masks, which are the dominating brands at retail as well as on TV as content. From a retailer point of view, they always bring in a portfolio that is unique or differentiated from a price perspective.
The success of the WinMagic model can be attributed to three major factors that are key to their way of working:
Firstly innovative, on-the-trend, and unique feature-driven products and a category domination approach.
“We do not mind cannibalizing ourselves at the aisle, as, if we do not, then we are leaving ourselves open for a competitor to do that. We grow by increasing our category share even if we may have brands that compete within a category. Like Paw Patrol, Peppa Pig and P.J Masks, or the many collectible brands in the girls’ aisle.”, explained Mukesh.
The second factor is retail visibility & break-through marketing that enables their products to stand out at retail and have a strong recall amongst the kid fans.
“For example, at Toys “R” Us, we have 26 dedicated brand spaces and at Hamleys all our brands are present with key brands like Paw Patrol and Hatchimals occupying dedicated spaces. This approach has enabled us to be a top 3 vendor at all the retail points including an over 20% share of the shelf at top mom & pop retail outlets in the country.”, said Mukesh Jagwani, founder of WinMagic Toys.
Finally, the company’s industry and functional expert teams apply the right load of energy, ownership, and meticulousness from product selection to business operations at all levels.
They are a marketing-oriented company and their marketing team does not follow the box-in-box-out approach. They believe in launching unique marketable concepts and back them up with 360-degree marketing efforts. WinMagic Toys’ social media campaigns are appreciated by retailers and the team is the trailblazer on the digital front in the industry.
Some of the key marketing tie-ups of the company include:
Youtube Sensation and a famous toy reviewer – My Miss Anand
Hatchimals video that was viewed 4.2M times –
Hatchimals video
Wrapples Dance challenge with 3.8M Views –
Wrapples Dance challenge
WinMagic Toys has also partnered with Child actor Myra Singh, from Kulfi Kumar Bajewala.
Wrapples Dance Challenge
WinMagic Toys’ Social Media Handles
WinMagic Toys – Business Model and Revenue Model
Revenue Generation Model – WinMagic Toys directly sells to retail chains, and resellers on Amazon, Flipkart. It also sells to sister concerns of Amazon, Flipkart, etc. Being a foreign-funded company, they cannot do multi-brand retail. In the General trade sector, it supplies to the sub-distributors who then in turn supply to mom and pop stores. The company caters to 3000+ stores. It works on a Firm sale Model.
“We cater to an upmarket target group and follow a consumer-centric ‘perceived-value’ pricing model. We always strive to position our products well within the perceptual price elasticity that our consumers are willing to accept, happily. To achieve that we follow a line pricing financial model, and always work with suppliers who understand the Indian consumers’ price sensitivity and are willing to move most favorably on unit costing.”, added Mukesh Jagwani, owner of WinMagic toys.
This ensures that they can make the right pricing available to the consumer. For a target group looking at a lower price band, they have their private labels and they plan to aggressively expand this business. WinMagic Toys provides a price point of as low as Rs 50 to as high as Rs 15,000.
The challenges that WinMagic Toys faced were – Duplicates, unorganized nature of trade, government regulations, experiments: cash & carry model, launching collectible toys, new/trending brands like Paw Patrol, Hatchimals – even though expensive, PJ Masks, and branding the generic category like bubbles.
In India, the toy market is dominated by unbranded Chinese products with 90% of the market being unorganized. These Chinese toys do not comply with the channel, quality or safety norms and thus turn out to be much cheaper for the Indian consumer, whose purchase decision is heavily influenced by price. It’s not uncommon to see small mom and pop stores selling Chinese replicas of the Disney/Marvel or DC line of toys due to their ever-increasing demand.
However, making licensed, high-quality international brands available in India continues to be a challenge due to tough import norms and the recent increase in import duty. As a result, small businesses, who wish to legitimately license and sell these products suffer, while low quality, low-cost Chinese toys continue to flood the market.
With a veritable portfolio of world-class brands of toys, games & kids merchandise, WinMagic Toys has a presence across all the major toy retail chains namely Hamleys, Toys “R” Us, Landmark Stores, Shoppers Stop, Crossword, Hyper City, Lulu along with 3,000 Mom & Pop stores and over 20,000 outlets for mass products through wholesalers.
The company has also partnered with all major online channels including Amazon, Flipkart, Firstcry, Hopscotch, etc. With legendary brands in the portfolio like – Paw Patrol, PJ Masks, Hatchimals, Shopkins, etc., WinMagic Toys is the No.1 third party distributor in India in the toy specialty channel.
In under 3 years, the company has grown its portfolio to 40 plus brands and plays in 84% of addressable toys & games categories at retail. The year 2020 is the year of boys, with the likes of Batman, DC, Monster Jam and Bakugan from Spin Master slated to launch in the next few months, and brands like Infinity Nado, that was recently acquired & re-launched, and Treasure X the boys collectible brand launched in the first half of 2019, going steady at retail.
WinMagic Toys today are India’s largest independent distributor in the toy specialty channel, competing with a few of the legacy players, like Mattel, Hasbro, and Funskool who have had their presence in India for more than 30 years. In 2019, they sold more than 100 crores worth of toys from retail, which marks the fastest growth by any player in the industry over the years!
Some of the suppliers of WinMagic Toys are Spinmaster – World leader in innovative toys, Just Play – A manufacturer known for its high-class plush toys, and Moose Toys – A company that created a revolution in the collectible’s category. Some of the customers are Hamleys, Toys “R” Us, Crossword, Amazon, Flipkart, and Firstcry.
WinMagic Toys – Future Plans
WinMagic Toys has plans to constantly innovate & upgrade their portfolio. They will be soon adding world-class toys like Batman & DC action figures, Bakugan, Monster Jam vehicles, and its own unique private labels in categories like Games and Puzzles, Sports Goods, & Impulse Play.
The top 3 ranked vendor, with retailers like Hamleys & Toys “R” Us, WinMagic Toys has always been ahead of the curve. Having already crossed Rs. 60 crores in revenue in 2019, the company is sure to cross Rs. 100 crores by FY 2020. Marching forward, WinMagic Toys aims to go for listing besides generating a turnover of over Rs. 500 crores in the next five years.
Company Profile is an initiative by StartupTalky to publish verifiedinformation ondifferent startups and organizations. The content in this post has been approved by the organization it is based on.
These days, when women too fetch their passion aggressively, they often seem to be in a fix upon raising their kids right while not giving up their interests. To make it a little convenient and easy on these women, Flintobox was founded by Arunprasad Durairaj, Vijaybabu Gandhi, and Shreenidhi Srirangam in the year 2013.
Flintobox essentially produces educational activity boxes for children. These boxes are particularly based on a theme. So ideally, Flintobox makes resources for Early Child Development monthly.
Flintobox provides theme-based educational activity boxes for children. It has 3–4 activities a month with a book in one theme. These activity boxes can be reused and sometimes they also tend to engage more than one child.
All activities from Flintobox come with an instruction chart. Still, if you’ve got any queries, the activities can be viewed on their website. Each of these activities is described with the help of a video and they are based on one particular theme like transport, plants, animals, mathematics, rainbow colors, a game, a crafting/ coloring activity with good items. This is complemented with one storybook with superior characters like Bobo, Mia, Benji, and Flinto.
Get Monthly Subscription! And get Flintobox every month on an Educational theme
Themes are focused on developing key skills by inculcating age appropriate activities
Watch & observe your child learning new things and concepts by having fun simultaneously!
Flintobox in Nutshell
Presenting a new theme every month, It is research-based and caters to the development of 12 areas in the child’s overall growth. These boxes are curated by Montessori experts and child psychologists.
There are two different product modules at Flinto Learning:
Flintobox – This product is mainly a subscription program that is designed to deliver engaging learning activities to children right at their doorstep.
FlintoClass – This one is a comprehensive preschool system for independent/unbranded preschools. It provides children with a top-notch learning experience in their early growth years.
Driving the kids away from ipads and Mobiles – With activities designed so well and keeping the key result areas on top, the children are ought to spend more time doing these rather than playing games on the mobile and watching cartoons on television.
Bonding time with the Parents – In the tight schedules and being disturbed by so much technology all around, parents hardly can spend any quality time with their kids. With Flintobox activities, they are ought to spend some good time doing these activities with their kids thus resulting in good bonding time.
Increasing the Creativity Quotient in the kids – With reduced time spent on Televisions and computers, the children get to creatively explore the arenas of thinking while doing the Flintobox activities. In the competitive world today where kids are not only judged at I.Q., this makes them ready for tomorrow.
Flintobox – Founders and Team
Flintobox was founded by Arunprasad Durairaj, Vijaybabu Gandhi, and Shreenidhi Srirangam.
Flintobox Founders
Arunprasad Durairaj, Co-Founder & CEO – He is an entrepreneur and an Ivy League graduate. He has worked in a wide array of industries like consumer goods, food services, biotech, healthcare, infrastructure development, mining, transportation in strategic and has also had financial advisory roles to play. He is currently an advisor to Startup Community in Chennai and Bangalore.
Vijay Babu Gandhi,Co-Founder & COO – With a B.Tech from Anna University, he was a co-founder at Zinghopper before co-founding Flintobox.
Shreenidhi Srirangam, Co-Founder & CTO – He has over 15 years of experience in larger organizations and startups. His expertise lies in designing and implementing mobile and web experience. He has successfully led teams and is also an individual contributor.
All of this started with the current problem of the present generation. The problem is that they are busy with their daily and hectic schedules and at the same time they want their children to excel in their studies. In this generation, parents are truly trying their best to nurture their kid’s creativity and curiosity to an optimum level. So the basic idea for Flintobox was germinated when Vijaybabu Gandhi faced this with his 5-year-old kid who was more unconsciously deep in movies and mobiles.
This stressed out Gandhi and he began thinking of ways as to how can this situation be avoided. Therefore he wanted to create a product that can be used to increase the kids’ creativity through meaningful activities. To do so, he thought about a venture like this to protect the kids from the curse of technology. And that’s how the idea for Flintobox was germinated.
This was followed by him sharing the idea with two of his friends who are now the co-founders. Together they came up with an idea of starting a product called Flintobox.
Flintobox – Name, Tagline, and Logo
The name Flintobox is ideally originating from flint, which is defined to be a sedimentary rock that generates sparks when struck against steel.
This business model of Flintobox is subscription-based. It offers three subscription plans:
3-month subscription
6-month subscription
12-month subscription
The customers are entitled to upgrade or cancel at any point in time. The company puts up efforts at teaching the children several realistic concepts throughout the subscription. Also, one of the most interesting parts is that the subscribers of Flintobox receive a digital feed on parenting tips along with weekly activity ideas to do with children through the App.
Flintobox has raised a total of $15.3 Million in funding over 5 rounds. Their latest funding was raised on July 2020 for $7.2 million led by Lightbox ventures
Here is a list of all the funding rounds of Flintobox:
Date
Stage
Amount
Investors
August 2013
Seed Round
$35K
–
October 2014
Seed Round
$300K
–
August 2015
Angel Round
–
Globevestor
December 2017
Series A
$7 million
Lightbox
August 2018
Debt Financing
$800K
InnoVen Capital
July 2020
Pre Series B
$7.2 million
Lightbox Ventures
“We don’t want COVID-19 to come in the way of a child’s learning. For children below 6 years of age, monotonous online classes can’t be a substitute for the multi-sensory experiences that they deserve. We wanted to ensure that children continue receiving structured hands-on learning without compromising on their safety. We will be using the funds to create, expand and distribute this product across the world so that no child’s learning stops due to Coivd-19″ says Arunprasad Durairaj, CEO & Co-founder, Flintobox
In FY 2017, Flintobox had a revenue of around $2.05 million, which raised to around $3.65 million in 2018.
Over 5 lakh customers across India
Catering to 45 million children in the age group of 2-12 years
40% sales in metros, 60% in tier-II cities
Present in more than 30 cities in India
Reached a 1,000 preschools
Gone Global with establishing a presence in South and Middle-East Asia
Flintobox – Awards and Recognition
It was awarded the “Coolest Startup of 2014” by Business Today
Also, the “Best Education Startup of 2014” by the Confederation of Indian Industries
Won the Wharton India Startup Competition in 2015
And was also recognized as the best subscription boxes of 2014 by kidsstoppress
Flintobox – FAQs
What is Flintobox?
Flintobox is an India-based company that produces educational activity boxes for children. Based on a theme, the company makes resources for Early Child Development on a monthly basis.
Who are the Founders of Flintobox?
Flintobox was founded by Arunprasad Durairaj, Vijaybabu Gandhi, and Shreenidhi Srirangam.
How much is the revenue of Flintobox?
In FY 2017, Flintobox had a revenue of around $2.05 million, which raised to around $3.65 million in 2018.
How much Funding is raised by Flintobox?
Flintobox has raised a total of $15.3 Million in funding over 5 rounds. Their latest funding was raised on July 2020 for $7.2 million led by Lightbox ventures
What is the Business Model of Flintobox?
This business model of Flintobox is subscription-based. It offers three subscription plans:
