The big, brown teddies and the bunny rabbits are climbing the popularity charts once again. For the past two months, the soft toy industry in India has seen a 15-20% surge in sales. Companies like Archies and Hanung Toys feel that one of the major reasons for this is the recall of Chinese-made toys from Mattel globally and from the Indian market owing to the dangers they posed to children.
During the upcoming festive season, companies are expecting a growth of around 25% in the sale of soft toys.
The gifting industry in India is pegged at Rs 600 crore, of which toys constitute 20-25% or close to Rs 120 crore. Of the overall toy market, soft toys comprise 12-15%.
Toy sales normally spurt during the festive season, and after the Mattel recall, soft toy makers are expecting higher sales. ?There is always a rise in sales during the festive season, and this year, we are expecting a jump of around 25%,? said AK Bansal, managing director of the Noida-based Hanung Toys and Textiles Ltd. ?For us, the festival season starts from August and continues till February and almost two-thirds of sales come during this season,? added Bansal.
Archies Greetings and Gifts Ltd is also expecting a similar growth. However, its sales hits a peak during February every year owing to Valentine?s Day. ?During February, there is a 30% increase in the sale of soft toys. December also brings good business as the sales go up 20%, and observing the market for the past couple of months, we are expecting a better business this time,? said Nilesh Chhera, director, Archies. Mattel officials could not be reached for comments, despite repeated attempts.
Bansal confirmed that utmost measures are taken to guarantee the safety of these toys for kids. ?All our toys pass the international safety standards,? he said. Chhera said, ?We import soft toys mainly from China and all these are of the best quality and very safe for kids.?