Candytoy partners with Reliance Retail, will supply this product to 1,400 shops

Candytoy Corporate, one of the leading manufacturers of candy toys, has partnered with Reliance Retail to supply confectionery toys to its 1,400 stores. The company’s founding director Gaurav Mirchandani said that the Indore-based company had signed an agreement with Reliance Retail about two months ago. “We currently have purchase orders for more than 15 shops,” he said. 200 shops will become operational by the end of Diwali, and 1,400 shops will become operational by the end of the current financial year. When asked about the size of the order, he said the rate would be Rs 2 crore per month from 200 shops of Reliance Retail and it would be increased to Rs 4-4.5 crore per month by the end of this financial year.

Company considering IPO

Mirchandani said, we have more than 75 SKUs in the sweet and salty flavor category of candies, which we are offering to Reliance Retail. Canditoy Corporate (CTC) has a capitalization of around Rs 1,000 crore. It is supplying to other retailers globally in 40 countries. The company plans to sell about 10 per cent of its equity to fund its future expansion plans, and is considering an IPO in the next two-three years.

H&M will sell products online

Reliance Retail’s fashion arm Ajio will now sell Swedish fashion giant H&M’s products online through its platform. The partnership aims to enhance H&M’s online presence, complement its existing offering by making affordable, high-quality fashion accessible through Ajio, and adds another top international brand to its strong brand portfolio. H&M has previously entered into an exclusive partnership with online sales company Mantra. H&M will present its collection on Ajio, which will include more than 10,000 items of womenswear, menswear, kidswear and home decor.