Funskool
{{Short description|Indian toy manufacturing company}}
{{For|the American counterpart this company is apart from|Playskool}}
{{Use dmy dates|date=November 2018}}
{{Use Indian English|date=November 2018}}
{{Infobox company
| name = Funskool (India) Ltd.
| logo = Funskool logo.png
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| type = Subsidiary
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| industry = {{ublist|Toys}}
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| founded = Madras, Tamil Nadu, India ({{start date and age|df=yes|1987}})
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| hq_location = Tarapore Towers, 6th Floor, 826, Anna Salai
| hq_location_city = Chennai, Tamil Nadu
| hq_location_country = India
| num_locations = 13
| num_locations_year = April 2016
| area_served = Worldwide
| key_people = R Jeswant (CEO)
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| revenue = {{increase}} {{INRConvert|235|c}}
| revenue_year = FY18
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| owners = {{ublist|MRF Ltd.}}
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| website = {{URL|http://www.funskoolindia.com/}}
}}
Funskool (India) Ltd. is an Indian toy manufacturing company, founded in 1987 with headquarters in Chennai, Tamil Nadu. Apart from its own brands and its American counterpart Playskool, the company also manufactures and distributes products in the Indian market under license from foreign toy brands including Hasbro, Disney, Warner Bros., Takara Tomy, and Ravensburger.{{Cite news|url=https://www.business-standard.com/article/management/funskool-goes-in-search-of-larger-shelf-space-113081901056_1.html|title=Funskool goes in search of larger shelf space|date=19 August 2013|newspaper=Business Standard|first=T E|last=Narasimhan|access-date=29 November 2018|archive-date=30 November 2018|archive-url=https://web.archive.org/web/20181130071910/https://www.business-standard.com/article/management/funskool-goes-in-search-of-larger-shelf-space-113081901056_1.html|url-status=live}}
Initially a joint-venture between Hasbro and MRF, the former backed out of the venture in 2014, becoming a wholly-owned subsidiary of MRF in the process.
History
Funskool was established in 1987 as a joint venture by MRF Ltd. and American toy manufacturer Hasbro, Inc.{{Cite web|url=http://www.thehindubusinessline.com/companies/funskool-keen-to-enter-tierii-cities/article8402347.ece|title=Funskool keen to enter tier-II cities|last=Law|first=Abhishek|website=The Hindu Business Line|date=27 March 2016 |access-date=2016-04-14|archive-date=2 July 2021|archive-url=https://web.archive.org/web/20210702211417/https://www.thehindubusinessline.com/companies/funskool-keen-to-enter-tierii-cities/article8402347.ece|url-status=live}} The company began commercial operations the following year. Funskool manufactures all its products (including licensed products) at manufacturing facilities in Ranipet and in Goa.{{Cite web|url=http://www.thehindubusinessline.com/companies/funskool-to-go-beyond-metros-bet-on-private-brands/article6821218.ece|title=Funskool to go beyond metros; bet on private brands|last=Menon|first=Bindu D|website=The Hindu Business Line|date=25 January 2015 |access-date=2016-04-14|archive-date=2 July 2021|archive-url=https://web.archive.org/web/20210702211418/https://www.thehindubusinessline.com/companies/funskool-to-go-beyond-metros-bet-on-private-brands/article6821218.ece|url-status=live}} Funskool opened its third manufacturing at Ranipet on 20 March 2019, which is dedicated to handling exports.{{cite web |title=Funskool new unit with Rs 25 cr outlay in Tamil Nadu |url=https://www.business-standard.com/article/news-ians/funskool-new-unit-with-rs-25-cr-outlay-in-tamil-nadu-119032000725_1.html |website=Business Standard India |accessdate=24 March 2019 |date=20 March 2019 |archive-date=24 March 2019 |archive-url=https://web.archive.org/web/20190324112845/https://www.business-standard.com/article/news-ians/funskool-new-unit-with-rs-25-cr-outlay-in-tamil-nadu-119032000725_1.html |url-status=live }}{{Cite web|title=Funskool become first toy manufacturer to get BIS certification|url=https://www.cnbctv18.com/business/companies/funskool-become-first-toy-manufacturer-to-get-bis-certification-7133651.htm|access-date=2020-10-29|website=cnbctv18.com|date=7 October 2020 |language=en-US|archive-date=4 November 2020|archive-url=https://web.archive.org/web/20201104143042/https://www.cnbctv18.com/business/companies/funskool-become-first-toy-manufacturer-to-get-bis-certification-7133651.htm|url-status=live}}
The company's main competitors in the Indian market are Mattel and Fisher-Price. In 2014, Funskool surpassed Mattel to become the market leader in the mid to premium range of the Indian toy market.{{Cite web|url=http://www.business-standard.com/article/management/funskool-raises-its-game-115090101294_1.html|title=Funskool raises its game|access-date=2016-04-14|archive-date=7 April 2016|archive-url=https://web.archive.org/web/20160407165034/http://www.business-standard.com/article/management/funskool-raises-its-game-115090101294_1.html|url-status=live}} That same year, Hasbro sold its stake in Funskool to MRF as the company opened a regional division in India.{{cite web|url=https://businessindia.co/magazine/corporate-report/funskool-toying-with-success|title=Funskool: Toying with success|date=2023-12-08|access-date=2025-01-12|work=Business India|first=Arbind|last=Gupta}}
Funskool's licence to manufacture Lego products was discontinued in 2019.{{Cite web |date=2024-05-03 |title=Game responsibly |url=https://888starz-app.com/responsible-gaming/ |access-date=2024-07-19 |website=888starz-app.com |language=en-US}} In June 2022, the company acquired the rights to manufacture and distribute the board game Abalone from Asmodee.{{Cite web |last=Bureau |first=BL Chennai |date=2022-06-08 |title=Funskool obtains manufacturing and distribution rights for Abalone board game in India |url=https://www.thehindubusinessline.com/news/funskool-obtains-manufacturing-and-distribution-rights-for-abalone-board-game-in-india/article65507762.ece |access-date=2022-08-23 |website=www.thehindubusinessline.com |language=en}} In July 2022, Funskool acquired the licence to manufacture action figures based on characters from Green Gold Animations' Chhota Bheem series.{{Cite news |date=2022-07-14 |title=Funskool to make and distribute Chhota Bheem in India |language=en-IN |work=The Hindu |url=https://www.thehindu.com/business/funskool-to-make-and-distribute-chhota-bheem-in-india/article65639416.ece |access-date=2022-08-23 |issn=0971-751X}}
Funskool products are currently exported to Africa, ASEAN countries, Bangladesh, Bhutan, China, Europe, the Gulf Cooperation Council countries, Maldives, Mongolia, Nepal, Oceania, Pakistan, Russia, Sri Lanka, and the United States.{{cite web |last1=V |first1=NARAYANAN |title=Funskool ties up with international brands to expand product portfolio |url=https://www.thehindubusinessline.com/companies/funskool-ties-up-with-international-brands-to-expand-product-portfolio/article30400459.ece |website=@businessline |date=26 December 2019 |accessdate=26 January 2020 |language=en |archive-date=26 January 2020 |archive-url=https://web.archive.org/web/20200126191420/https://www.thehindubusinessline.com/companies/funskool-ties-up-with-international-brands-to-expand-product-portfolio/article30400459.ece |url-status=live }}{{Cite web|url=http://www.deccanherald.com/content/520547/funskool-play-own-brands.html|title=Funskool to play with own brands|website=Deccan Herald|access-date=2016-04-14|archive-date=20 October 2016|archive-url=https://web.archive.org/web/20161020230949/http://www.deccanherald.com/content/520547/funskool-play-own-brands.html|url-status=live}}
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 eight cities across the country.{{Cite news |date=2013-08-10 |title=Lego store launched in Chennai |url=https://timesofindia.indiatimes.com/business/india-business/Lego-store-launched-in-Chennai/articleshow/21745994.cms |access-date=2024-07-19 |work=The Times of India |issn=0971-8257}}
File:Funskool Store Chennai Tamil Nadu India.jpg
Most Funskool stores are operated by franchisees. As of February 2021, there are 18 Funskool stores nationwide.{{Cite web|title=Number of Funskool retail stores|url=http://www.funskoolindia.com/retail-foray.php|url-status=live|access-date=2 July 2021|archive-date=1 December 2020|archive-url=https://web.archive.org/web/20201201113928/http://funskoolindia.com/retail-foray.php}}
