Actually, India’s toy market has been growing rapidly in the last few years. At the same time, the Indian government is also promoting domestic manufacturing of toys to support it. In such a situation, big companies now want to hold their own in this market.
Mukesh Ambani And Ajim Premji
Mukesh Ambani, chairman of Reliance Industries and Asia’s richest man, is known for always doing something new and big. Mukesh Ambani bought the UK toy company Hamlej in 2019 after first establishing its grip on Tel then telecom and then digital. The company had done this about 620 crores rupees. After this, the company Reliance had said that it is planning to open Hamlej stores afresh.
Now, on the path of Mukesh Ambani, the country’s biggest donors and co-founder of Wipro Azim Premji is also going to try his hand in the toy business. Premji has caught the toy Barbie doll famous for this business. Let’s know what the whole strategy is
Bengaluru’s stake in this company
Actually Azim Premji is going to invest in Bangalore-based toy company Micro Plastic. Azim Premji is planning to do this investment through his company Premji Invest. Bangalore-based Micro Plastic manufactures toys for American companies on contract. The company that Azim Premji is investing in, makes toys for two famous companies of America, one of which is Mattel. The company produces the world’s most popular toy Barbie doll series.
Why Indian giants are coming to the toy market
Actually, India’s toy market has been growing rapidly in the last few years. At the same time, the Indian government is also promoting domestic manufacturing of toys to support it. In such a situation, big companies now want to hold their own in this market. But most of the players in this market are foreign companies. In such a situation, whether Reliance or Premji Invite is entering the sector with all foreign partners.
Stake with ADV Partners
Azim Premji’s investment subsidiary Premji Invest has partnered with Asian private equity fund ADV Partners. According to the official statement, two investors have recently bought a significant stake in Micro Plastics. After this deal, Azim Premji now wants to strengthen his hold in the toy market through two famous toy companies in the world. At the same time, Mukesh Ambani has already entered this market through Hamleys.
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