- Planning international sales expansion in Q2 with focus on UAE, USA and Europe
- Target to enhance domestic footprint to more than 200 owned and franchise stores in the coming 2 years, with focus on Tier-2 and Tier-3 cities
New Delhi, India – April 23, 2024: Jammbo, a bootstrapped Indian toy manufacturer founded in 2023, is proud to announce its exponential growth in into the business-to-consumer (B2C) or direct-to-consumer (D2C) market, a milestone in its journey towards reshaping the toy industry landscape.
With the commercial launch of operations in Aug’23 by Manasvi Singh, Anirban Chatterjee, Vipin Nijhawan, Archit Bhargava, Jammbo is also proud to have achieved consolidated sales worth INR 21 Cr in its first six months of operations, led the company’s sharp B2B2B and D2C strategy.
Between Jan’24 to March’24 this year, Jammbo has achieved 2400%+ growth in its D2C channel, from 3Lakhs in Jan to 75Lakhs in April 2024.
Jammbo has positioned itself as a leader in the ride-on battery toy category, offering a diverse range of 50+ products and is planning to expand it to 200+ products in the next 9-10 months. Since its inception, Jammbo has remained dedicated to delivering quality products that captivate consumer’s imaginations.
Driven by a vision to secure India’s prominence in the global toy market by 2030, Jammbo’s strategic expansion strategy focuses on fostering partnerships with established online platforms such as FirstCry and Hamleys. Additionally, the company has cultivated relationships with 1000+ B2B vendors across India.
Highlighting the company’s tremendous growth and achievements, Manasvi Singh, CEO & Co-Founder of Jammbo, stated, “Jammbo stands as a distinguished emblem of Atmanirbhar Bharat, revolutionising the toy industry in India. Our trajectory underscores the strength of local manufacturing with global standards.”
Recognising this significant growth potential, Vipin Nijhawan, Co-founder & CPO, Jammbo commented, “We want to make India the toy capital of the world by 2030, we aim to elevate India’s status in the global toy market but also inspire a new generation of creators, dreamers, and innovators. With the decreasing imports from China across the world, India can match the quality and cost and become the leader in the toy market.”
Since its inception, Jammbo has remained dedicated to delivering quality products that captivate consumer’s imaginations.
As part of its growth strategy, Jammbo is set to embark on international operations in the next quarter, catering to customers in the UAE, Europe, and the USA starting July. The company’s omnichannel
approach includes plans to establish 200 stores within the next three years, further solidifying its presence in the global toy market.
About Jammbo:
Founded in 2023 by Manasvi Singh, Vipin Nijhawan, and Anirban Chatterjee, Jammbo is a bootstrapped Indian toy brand. The company, with an estimated annual recurring revenue (ARR) exceeding ₹50 crores, boasts a well-established infrastructure, which includes multiple operational factories and showrooms, with a noteworthy focus on gender diversity. With over 60 lakh online online sales projected in April (within the first four months of the launch of its website), Jammbo has carved a niche within the ride-on battery toy category, offering a diverse product range exceeding 200 items sourced through Original Equipment Manufacturers (OEMs).
Aiming for ensuring India’s position as a significant player in the toy market by 2030, Jammbo’s strategic expansion leverages partnerships with established online platforms like FirstCry and Hamleys, while simultaneously fostering relationships with over 1000 B2B vendors across the Indian market.
