Aequs previously established an aerospace manufacturing facility in the special economic zone (SEZ) in Belgaum in 2009, the Koppal Toy Cluster represents a significant expansion into the toy manufacturing sector. Aravind Melligeri, CEO and Chairman of Aequs, expressed the company’s commitment to the long-term development of the Koppal ecosystem, comparing it to the growth achieved in Belgaum over 15 years.
Aequs Pvt. Ltd., a prominent contract manufacturing giant, is venturing into the Original Design and Manufacturing (ODM) sector with a recent agreement with Stone Sapphire, a company licensed to Disney’s Marvel franchise in India. Under this collaboration, Aequs will produce a series of 36 pullback cars, each featuring popular Marvel characters. The collection, priced from ₹300 onwards, will be exclusively available for sale in India.
The manufacturing of these Marvel-themed toys will take place at Aequs’s toy cluster located in Karnataka’s Koppal district. This toy cluster, spanning 7,00,000 sqft, was initiated by Aequs in 2020 with an investment of ₹400 crore and officially inaugurated in 2021 by then-Chief Minister BS Yediyurappa. Aligned with Prime Minister Narendra Modi’s ‘Make in India’ initiative, the project aims to create 25,000 direct jobs and 1,00,000 indirect jobs, according to the company.
However, Melligeri highlighted challenges in India’s toy market, emphasizing that manufacturing toys in a special economic zone comes with limitations as policies are export-focused. The recent increase in import duty on toys from 20 to 70 per cent has added to these challenges. The Aequs CEO acknowledged the time required to develop the toy export market in India, emphasizing the importance of both capturing the global market and recognizing the significance of India’s domestic market.
Despite these challenges, Melligeri believes that the Koppal toy cluster can transform the dynamics of the toy market in India, positioning Karnataka as a leader and a significant contributor to the ‘Make in India’ initiative.
The Marvel toy range, initiated 18 months ago, is set to be available for purchase next week. In addition to its collaboration with Stone Sapphire, Aequs serves as an OEM manufacturer for renowned national and international clients, including FirstCry, WinMagic, PlayShifu, and Hasbro for whom they manufacture Nerf guns, among others.
