Aequs Assembles Marvel In India: Launches Superhero Toy Line In 'Make in India' Push

Aequs, a leading contract manufacturing giant, is making a strategic foray into the Original Design and Manufacturing (ODM) sector, aligning with Disney’s Marvel franchise in India. The company announced its partnership with Stone Sapphire to produce a collection of Marvel character-based pullback cars, marking a significant shift in its manufacturing focus.

What to know? The range, consisting of 36 models, is priced starting at ₹300. These toys, inspired by popular Marvel characters, will be available solely in the Indian market. Aequs will set up the production in its Koppal toy cluster in Karnataka, a 7,00,000 sqft facility inaugurated in 2021.

Aequs invested ₹400 crore into this project, envisioned in 2020 and inaugurated by then-Chief Minister BS Yediyurappa. The cluster is a part of the ‘Make in India’ initiative. The company expects the project to generate 25,000 direct jobs and 1,00,000 indirect jobs.

See also: India’s Satellite Internet Battle: Elon Musk’s Starlink Favored Over Reliance Jio In Draft Bill

Challenges in Domestic Toy Manufacturing: Aequs CEO Aravind Melligeri highlighted challenges in India’s toy market, particularly the policy focus on exports in special economic zones, which complicates domestic sales. The recent hike in toy import duty from 20% to 70% and the absence of BIS approval for Chinese manufacturers have also impacted the industry.

Besides the Marvel range, Aequs manufactures national brands like FirstCry and international clients, including Hasbro, known for Nerf guns. Melligeri expressed confidence in the Koppal cluster’s ability to transform Karnataka into a leading toy exporter, reinforcing India’s position in the global toy market.

Read next: How To Check Inox India IPO Allotment Status

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
Posted In: NewsRetail SalesAequsdisneyMarvel

Loading...