Type Joint venture Area served Worldwide Website www.funskoolindia.com Founded 1986 Parent organizations Hasbro, MRF | Industry Toys
Entertainment Key people K. John Baby (CEO) Headquarters Chennai Number of locations 13 (April 2016) | |
Owners MRF Ltd. (60%)
Hasbro, Inc. Revenue 1.6 billion INR (2015, US$24 million) | ||
Funskool opens its first toy store in chennai
Funskool (India) Ltd. is an Indian toy manufacturing company founded in 1987 with headquarters in Chennai, Tamil Nadu. Apart from its own brands, the company also manufactures and distributes products in the Indian market under license from foreign toy brands including Hasbro, Lego, Disney, Warner Bros., Takara Tomy, and Ravensburger.
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History
Funskool was established in 1987 as a joint venture by MRF Ltd. and American toy manufacturer Hasbro, Inc. The company began commercial operations the following year. Funskool manufactures all its products (including licensed products) at manufacturing facilities in Ranipet, near Chennai, and in Goa. The company's main competitors in the Indian market are Mattel and FisherPrice. In 2014, Funskool surpassed Mattel to become the market leader in the mid to premium range of the Indian toy market.
Funskool has published the Monopoly board game in India since 1987. The company released Monopoly:India Edition in 2008, with spaces on the board named after Indian cities and railway stations.
Funskool products are currently exported to Africa, Bangladesh, Bhutan, Maldives, Nepal, Sri Lanka, Turkey and the United Kingdom. The company has plans to expand to the United States.
Stores
Funskool opened a Lego store in Chennai in 2013. Following the success of the venture, the company opened the first Funskool store in Coimbatore in March 2014. By September 2015, the company had opened one store each in 8 cities across the country. Most Funskool stores are operated by franchisees. As of April 2016, there are 12 Funskool stores in 12 cities nationwide.