25th April 2024 – The co-founder and chief product officer of Jammbo, Vipin Nijhawan, made the following statement: “We want to make India the toy capital of the world by the year 2030.
Our goal is to elevate India’s status in the global toy market while also inspiring a new generation of creators, dreamers, and innovators.” As China’s imports from other countries around the globe continue to decline, India is in a position to become the market leader in the toy industry by matching China’s quality and prices.
The beginning of a ride-on battery toy According to information that Jammbo supplied to ETRetail, the firm intends to become omnichannel by expanding its offline presence to 200 outlets and concentrating on a franchise-owned-company-operated (FOCO) business model.
Conclusion
These shops will focus on the tier 2 and tier 3 regions, with little attention paid to the metropolitan areas of India. The firm said that it intends to start international operations in the United Arab Emirates (UAE), Europe, and the United States market within the subsequent quarter.
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