How India Is Quietly Building A Toy Empire | KV Toys with Karan Narang

In this Face2Face conversation, Karan Narang and Vivek Bajaj explore how the Indian toy industry is transforming and what makes this legacy-driven business a powerful success story. Three generations of involvement have built deep industry understanding, trusted relationships, and a nationwide distribution network that allows faster scaling than new entrants.

The discussion highlights that innovation—not just low cost—drives growth. Competing with global players means continuously creating new ideas, mixing categories, and refreshing product lines to attract evolving consumer preferences.

The journey began with just ten products, proving that starting small and scaling smart builds confidence, control, and quality. Expanding to more than 700 SKUs showcases how consistent experimentation compounds into a massive ecosystem.

A strong distribution network remains the backbone—built on wholesale channels, supermarket partnerships, and trust-based credit cycles. Reverse pricing strategy—setting the price first and designing backwards—ensures affordability, margins, and market alignment.

Multiple manufacturing technologies and partners enable speed, flexibility, and diversification across categories. Organized retail chains like Dmart and Reliance are now key growth engines, benefiting from impulse buying and family-driven purchasing patterns.

With exports entering markets like Germany and Japan, Indian toys are gaining global acceptance as supply chains diversify beyond China. The ecosystem has matured, backed by improved infrastructure, talent, and raw material access.

Finally, capital becomes the accelerator. The upcoming IPO aims to unlock working capital, fund new molds, increase capacity, and strengthen both domestic and export verticals—positioning Indian toy manufacturing for a global leap.