German toy manufacturing company Simba Toys has opened its first global franchise retail store in Bangalore at Phoenix Market City mall in association with Exelixi, a management company. Spread over of 3,500 sq.ft., the outlet would retail Simba Toys along with other brands. The company plans to open three other stores in NCR (Great India Place – Noida and Shipra Mall – Ghaziabad) and Indiranagar, Bangalore.
Commenting on the move, Ben Nabert, CEO India, Middle East, and North Africa, Simba Toys, said: “We are tremendously excited about the launch of our first global franchise store in the country. The Indian toy industry is growing at an enormous pace with a market size of almost Rs 10,000 crore with only 30–35 percent organised players. Comprehending this potential, Simba has entered the franchise retail sector with over two years of experience in the market and understanding of Indian consumer.”
Pradeep Parmar, Business Head, Simba India, said that the franchising model would create greater reach and depth in the market through local partnerships. He further added that the company is open to more franchisee associations.
Prasar Sharma and Amit Chaudhary, Founders, Exelixi, stated: “We intend to grow to 50 stores with Simba within this fiscal.”
According to the company officials, Simba Toys entered India in 2010. It has launched over 50 brands and 3,000+ SKUs. The company also holds licenses for entertainment properties such as Spiderman, Disney Princess, and Cars.
Founded in 2008 by Prasar Sharma and Amit Chaudhary, alumni of IIM Bangalore, Exelixi claims to help retail brands develop and establish themselves in India.
