Funskool to convert concepts to toy games for British market

Raphael KuriyanChennai: Even as cheap Chinese toys are flooding the domestic market, the Rs 45-crore-turnover Funskool India is planning to convert concepts to games for the UK market.

Says Funskool India chief executive Raphael Kuriyan: "We will soon sign an agreement with a British marketing company to design and manufacture toys based on concepts given by the foreign company." Funskool has already designed a couple of games for the UK company and a formal announcement to this effect will soon be made.

But the task is not simple. The company''s design team has to understand the British ethos to convert the concept into a final product. "The offshoot is that our design team will gain valuable experience and the same will be applied for the domestic market," adds Kuriyan.

The company during the last year increased its export basket to Hasbro International, USA. Hasbro holds a 40-per cent stake in Funskool''s Rs 4-crore equity while tyre major MRF holds the balance. In addition to action hero figures and some generic games, Funskool has started exporting wooden building blocks for Hasbro''s global markets. The company exports around 10 products to Hasbro.

Like many other industries, the China factor is a major issue for the domestic toy manufacturers, which has resulted in a chaotic market condition. Not long ago the Indian and the Chinese toy industries were at par. Last year the Chinese exported around $8-billion worth of toys. Kuriyan says the Indian imports will be around Rs.150 crore, which is nearly half of the domestic toy market.

The issue is not only cheap toys but also counterfeits, which impact the legal licencee of a toy, says Kuriyan. "I am not against imports. But what is needed is the laying down of standards — toxicity and safety — and strict implementation of laws to tackle the counterfeits."