INDORE, Madhya Pradesh – Candytoy Corporate a leading name in the promotional toys and confectionery sector has announced a major expansion plan with an investment of ₹100 crore to establish three new manufacturing facilities in its hometown of Indore.
The new plants, which will span a total of 500,000 square feet are designed to significantly boost the company’s production capacity and solidify Indore’s position as its central global manufacturing base.
Strengthening the Home Base for Global Exports
The strategic investment underscores the company’s commitment to its roots while catering to growing international demand. The expansion will not only increase output but also create substantial employment, generating nearly 1,000 new jobs for the local economy in the Indore region.
Gaurav Mirchandani, Director of Candytoy Corporate, outlined the company’s ambitious vision: “We plan to make Indore the global hub for Candytoy manufacturing. We have earmarked an investment of ₹100 crore to further strengthen our manufacturing base, for three new facilities, all in Indore.”
Fueling Growth After Series A Funding
This capital expenditure follows a successful Series A funding round of ₹110 crore that the company secured in November of the previous year. The latest investment demonstrates a clear path from fundraising to tangible expansion, channeling capital directly into scaling up infrastructure and production capabilities.
A Leading Player in a Niche Market
Candytoy Corporate holds a unique position as a leading manufacturer of integrated candy toys and plastic promotional products. The company has a strong international footprint, exporting its diverse range of products to markets across Europe, the United States, Africa, and the Middle East, including countries like Turkey, South Africa, Saudi Arabia, and the UAE.
This expansion is set to enhance its ability to serve these global markets more efficiently and compete on a larger scale.
Frequently Asked Questions (FAQ)
1. What does Candytoy Corporate manufacture?
Candytoy Corporate is a leading manufacturer of plastic promotional toys, candy toys, and confectionery products, often combining toys with candy in a single product.
2. Where is the expansion taking place?
The company is building three new manufacturing facilities in Indore, Madhya Pradesh.
3. What is the total investment and area for this project?
The total investment is ₹100 crore, and the three new plants will cover a combined area of 500,000 square feet.
4. How will this expansion impact employment?
The project is expected to generate nearly 1,000 new employment opportunities in the Indore region.
5. What are the company’s export markets?
Candytoy exports to a wide range of international markets, including Europe, the US, African nations, Turkey, and several countries in the Middle East like Saudi Arabia, Oman, Kuwait, and the UAE.
6. How was this expansion funded?
The expansion is supported by the ₹110 crore in Series A funding the company secured in November of the previous year, demonstrating a direct investment back into its growth infrastructure.
7. What is the company’s ultimate goal with this expansion?
The stated goal is to make its hometown of Indore the global hub for its manufacturing operations, centralizing and scaling production to meet worldwide demand.
