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Wednesday, May 31, 2023

Candies & Toys: This entrepreneur built Rs. 200 crore biz from Rs. 10 lacs

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Gaurav Mirchandani began selling toys under the brand SM Toys in 2015. SM Toys has an in-house design team that creates toys for their customers.

Indore-based Gaurav Mirchandani, one of the largest sellers of such toys, began by importing toys from China with Rs 10 lakh in 2015 and has now grown his firm to a Rs 150 crore revenue. Candy Toys Corporate Pvt. Ltd makes a variety of toys such as Racer Pull Back Cars, DIY Toys, LED Toys, Musical Toys, Prank Toys, Dinosaur Toys, Puzzle Toys, Crazy Balls, Figurine Toys, Sticky Toys, and Candy Toys. He also developed Hoppin, a candy brand with a revenue of Rs 50 crore, bringing his total business sales to Rs 200 crore.

Gaurav, 35, graduated from Choithram School in Indore in 2004 and then moved to the United States, where he earned a bachelor’s degree in business and finance from the University of Georgia in Atlanta in 2008.

He subsequently worked as a sales executive in an Atlanta perfume boutique owned by an Indian guy, where his exceptional marketing talents enhanced sales. He opened four more perfume businesses in Columbus, Pensacola, Tampa, and Clearwater, Florida, before returning to Indore to pursue fresh chances.

His meeting with Deepak Brahmane, a senior executive at Yellow Diamond, changed the direction of his life, and he went to India and got into the toy industry with Rs10 lakh, operating under the brand name SM Toys through SM Dyes, his father’s firm. In 2018, Gaurav established a second firm, Candy Toys Corporate Pvt. Ltd, to focus on the toy market, and in 2019, he introduced the Hoppin candy brand.

In 2019, they bought five toy-making machines, each costing Rs 25 lakh, and began their own manufacture. These toys are already shipped to Iran, African nations, Turkey, and will soon be available in Germany and the Netherlands. Most things are priced between 70 paise and Re 1, however some are more costly.

The toys are manufactured in four factories located in Indore, Hyderabad, and Delhi. Gaurav, who lost his younger brother when he was young, is close to his cousins, 14 of whom work for him.

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