Stone Sapphire India Reveals Ambitious Expansion Plans for the Coming Year

 Mumbai, Maharashtra,

IndiaStone Sapphire India Pvt. Ltd., the Indian wing of Red Ridge Global, revealed its ambitious 12-month vision for making play time more inexpensive and obtainable to millions of Indians.

At a media roundtable organised at Hotel St. Regis, Mumbai, the US$ 500 million (half a billion-dollar) Red Ridge Global conglomerate revealed fresh collaborations in India with worldwide toy manufacturers that would now be able to balance the group’s extensive distribution network. The media was addressed by Mr. Vick Rana, CEO - Red Ridge Global & Mr. Shobhit Singh, Director - Stone Sapphire India Pvt. Ltd. The Indian toy market was at an anticipated US$ 1.5 billion in 2018 and is thought to exceed US$ 3.3 billion by 2024, expanding at a CAGR of 13.9% between 2019-2024. The industry ecosystem is fed dominantly by the domestic inputs in the unorganised segment is propelled by General Trade. Via their strong distribution network that they have cautiously put together over the previous 7 years, Stone Sapphire anticipates to minimise distribution expenses and make more superior quality imported and locally manufactured toys obtainable to children throughout the nation. The company revealed that it has in recent tomes joined hands with worldwide toy manufacturing greats such as Hasbro and are now their distribution collaborators in India. Stone Sapphire also brings with it a robust industry intelligence, which it anticipates to capitalise on by assisting worldwide manufacturers to establish their base in India. With assistance in commencing manufacturing in the nation, coupled with access to their powerful distribution chain, Stone Sapphire offers exclusive two-pronged back to worldwide toy brands.  Mr. Vick Rana, CEO - Red Ridge Global commented, “With our specialised business expertise and strong presence in India, we hope to be a one-stop-solution for any global toy brand that wishes to spread footprints in India. There are several benefits that they will enjoy under the government’s ‘Make in India’ initiative. India is one of the fastest growing markets with immense possibilities, but comes with its challenges of compliances and requires a nuanced understanding of the various regional markets. At Stone Sapphire, toy manufacturers will find all their answers, support and the best distribution that takes them to the massive country’s farthest corners. We are very positive about our next steps and are hugely encouraged by the promising talks with global names that are already underway.” Mr. Shobhit Singh, Director - Stone Sapphire India Pvt. Ltd. remarked, “It’s an accepted fact that there is no replacement to early childhood play with toys. We are committed to help India promote playtime, both indoor and outdoor, by making the best of the world’s toys affordable and accessible. With our 360-degree support in manufacturing consultancy and access to the largest distribution network in the country, we hope to make this vision a reality. As India is on track to becoming an even bigger economic power, the emphasis for happy, healthy children who are torchbearers of that future, has only become more crucial. With our new partnerships, we dream of making that future brighter.” In recent times, there has been anticipation of probable import checks on toys, thereby making them expensive and less obtainable to numerous ofchildren in India. As an expanding nation where more and more children are getting attracted  to mobile phones and gadgets from an extremely early age, the requirement on real play time with toys has never been more urgent. In an ideal situation, the industry should be assisted in striking a leverage between imported and domestically manufactured toys while maintaining quality standards. This would be suitable for all parties concerned. In the past, numerous worldwide giants have been very careful in entering the Indian market because of its great size and restricted, unorganised distribution channels. With the unbelievable success of Sk’oodle, Stone Sapphire has set new benchmarks on how it can be effectively done. What commenced as a cottage industry, slowly expanded to be a small scale to mid-scale enterprise and finally, a great brand that was able to sell top-quality children’s materials at charges that are 30% inexpensive than inferior quality Chinese-made products. This was made probable with forming their own OEMs and piece-by-piece put together their own supply chain via sophisticated forward integration. This made economies of scale achievable, considerably reducing the expenses. Sk’oodle’s unique success has attracted more global brands to Stone Sapphire to assist them balance their business intelligence in India. Red Ridge, established in 1998, is a worldwide giant in stationery and DIY craft kits manufacturing, packaging and distribution. The brand has a robust existence all over the globe, in the USA, Canada, Hong Kong, India and Shanghai, Ningbo and Guangzhou. Led by Indian origin Founder Mr. Vick Rana, Red Ridge Global’s Indian arm Stone Sapphire has established a top ranking in the nation over the previous 7 years via its flagship brand Sk’oodle, a complete variety of art supplies, craft material and eco-friendly stationery for children. By ANJISHNU BISWAS