Retail India News: Candytoy Corporate Expands Presence Through Reliance Retail Partnership
Candytoy Corporate, a leading manufacturer of candy toys, has entered into a partnership with Reliance Retail to supply confectionery toys across 1,400 of the retailer’s stores. Gaurav Mirchandani, Founder Director of the Indore-based company, shared that the agreement with Reliance Retail was finalized a few months ago.
“We already have a purchase order for more than 15 outlets right now, which is live, and 200 outlets will be live by the end of Diwali, and 1,400 outlets will be live by the end of this financial year,” Mirchandani said.
Regarding the size of the order, he mentioned that the company expects to achieve a run rate of Rs two crore per month from Reliance Retail’s 200 stores, with this figure projected to scale to Rs 4 to 4.5 crore per month by the end of the fiscal year.
“We have more than 75 SKUs in the sweets and savoury flavours category of the candy, which we are providing to Reliance Retail,” he added.
Valued at nearly Rs 1,000 crore, Candytoy Corporate (CTC) supplies products to other retailers worldwide, reaching 40 countries. The company is also planning to divest approximately 10 percent of its equity to support future expansion and is considering an IPO within the next 2-3 years.
CTC is a global player in the production of promotional toys and confectionery items, with five manufacturing plants and 11 contract manufacturers, serving 40 countries across three continents.
When asked about the company’s revenue, Mirchandani stated, “We expect to close this fiscal between Rs 260 to 280 crore. Next fiscal, we expect closing at Rs 400 crore to 450 crore.”
CTC manufactures candy toys for several well-known companies, including Colgate Palmolive, Puma, MTR, Bournvita, Yellow Diamond, Vistara Airlines, and AirAsia, among others.
“We already have the purchase orders, so to deploy those orders, we need some time for the opening of new moulds, new facilities, and things like that. So, that’s why the result will be visible in the next financial year,” Mirchandani explained.
This fiscal year, CTC anticipates generating approximately Rs 120 crore from export markets and Rs 200 crore from domestic operations, which includes B2C sales and channel partnerships, according to Mirchandani.
When asked about raising funds, he said, “We are already in talks with some large investors.”
Regarding the IPO, Mirchandani mentioned, “In the next two years, after the closing of the financial year 2026-27, we will explore the possibilities of going public.“
CTC’s Indian manufacturing operations produce a variety of toys, including promotional toys, candy toys, Barbie dolls, electronic toys, DIY toys, LED toys, musical toys, prank toys, and sticky toys, among others.
