22nd June 2024- Jammbo, a New Delhi-based startup specializing in ride-on battery toys, is making substantial strides in the market. Founded last August, the company has set an ambitious revenue target of Rs 150 crore for the fiscal year 2024-25. CEO Manasvi Singh has outlined plans for global expansion and product diversification as key growth strategies.
Within just eight months since its inception, Jammbo has achieved an impressive revenue of Rs 25.5 crore. Its monthly revenue has skyrocketed from Rs 90 lakh to Rs 5 crore by May 2024, underscoring strong market acceptance and a robust business model.
Central to Jammbo’s success is its integrated approach, combining manufacturing prowess with extensive market reach. The company operates two manufacturing units, three assembly and warehouse facilities, and boasts an in-house R&D team. Chief Marketing Officer Anirban Chatterjee highlighted the company’s expanding supply chain, with a network of over 200 retailers across 23 states and 91 cities.
In addition to its offline retail presence, Jammbo leverages online sales channels including its website and popular e-commerce platforms. With a product portfolio of about 50 ride-on battery toys such as electric cars and bikes, the company caters to diverse consumer preferences.
Recently entering the UAE market, Jammbo aims for further global expansion into the U.S. and U.K. markets. This strategic move positions Jammbo as a significant player in the international toy industry landscape.
With its rapid scaling capabilities and focused market strategy, Jammbo is poised to redefine the toy industry, promising continued innovation and growth.
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