Simba Toys targets tier II & III markets
By Bhawana Anand | Vjmedia Works | January 23, 2015
The brand plans to add 30-40 stores in the next one year
"Simba is committed to the Indian market and we are closely looking at expanding our presence in the country. We will be expanding our retail network through the franchise store model across metros, Tier II and III cities,â€said Shree Narayan Sabharwal, Business Head, Simba Toys.
"With the development of the Bharat story, we are looking at around 60% of our stores in non-metro locations. Simba has a strategy to build a hub-and-spoke model with regular stores spread out amongst metros, tier II & III places and 5-8 flagship stores in the top cities forming the hub,â€ he added.
Over setting up of any manufacturing unit for toys in India, he said, "Currently we have no plans of setting up a manufacturing facility in India though our product line is customised to meet the needs of the Indian consumer.â€
Currently, Simba's in-house brands include Majorette, Steffi, Squap amongst others and are contributing around 70% of its sales in India.