Hanung to expand FUNLAND

Hanung Toys and Textiles Limited, a soft toys manufacturer and exporter is planning to expand its retail presence and global sourcing under the brand name FUNLAND. The company has hired the expertises of Franchise India Brands Limited (FIBL) for the expansion.

Commenting on the association, Ashok Kumar Bansal, Chairman and Managing Director, Hanung Toys and Textiles Limited said, “Hanung has long been the largest player in the toys segment in India, with presence across manufacturing, distribution and retail. Having explored the retail segment over the past year, we have now decided to expand our network across the country. Our tie-up with FIBL seeks to bring together their expertise in franchise-based business development with our unmatched position in the domestic and international toy markets to create an opportunity for entrepreneurs across the country.”

“Our alliance with Hanung Toys and Textiles Limited heralds the beginning of a new era in the evolution of the toy market in India. We hope to bring the best of business opportunities for the company which will capture the interest of the investors in India,” added Sonya Chowdhry Grover, Director Planning and Strategy, Franchise India Brands Limited.

The company plans to open about 400 stores including up to 150 company owned franchisee operated (COFO) stores within the next three to four years. The stores will be operated in two models – COFO and FOFO (Franchisee Owned Franchisee Operated). The stores will carry four categories of products: traditional toys which include soft toys, educational toys which include board games, puzzles, electronic gaming and sports accessories.