Noida based Hanung Toys and Textiles, the biggest exporter of soft toys from India and one of the leading players in home furnishings, is now going in for backward integration. “We are looking at putting 1 lakh spindles initially and adding more capacities at a later date. The total investment would be around Rs. 400 crore,” avers AK Bansal, Chairman and Managing Director of Hanung.
Since its inception in 1992, Hanung have come a long way in increasing its turnover from Rs. 92 lakhs then to a staggering Rs. 1400 crore in the last fiscal year. The company which started in technical collaboration with the Koreans is the biggest soft toy manufacturer of the country. Also it is a well-known giant in home textiles manufacturing with various units working on different process from weaving of the fabric to the finished product.
Starting its business with Ikea for toys, today the company is working with all major brands and retailers in the US and Europe, be it Bed Bath & Beyond, JCPenney, Macy’s to mention a few. Moving forward, Hanung is planning to get further vertically integrated by including spinning as well in the proud list of its manufacturing capabilities.
Hanung is growing at a steady rate and is looking at 20-25% growth in the coming year. “For us the growth area is our furnishing business as the toy business is highly labour-oriented; we all know that labour is getting critical everyday so it’s better to expand business where the human intervention is least required,” shares Bansal.
