New Delhi [India], November 16: In a world where innovation, leadership and entrepreneurial spirit drive progress, it is imperative to celebrate the excellence of the leaders who pave the way for success in business. It is that time to recognise the visionaries, showcasing their collective impact underscores the transformative power of visionary leadership in shaping the future of business and innovation.
ET Inspiring Leaders Awards 2023, which honours and recognises those who have made remarkable contributions across sectors, is scheduled to be held on November 8, 2023, at Hotel The Grand, New Delhi. Manasvi Singh, Co-Founder of Jammbo, was felicitated at the ET Inspiring Leaders Awards ceremony by the well-known Bollywood Actress Jacqueline Fernandez.
Speaking after being felicitated, Manasvi responded, "I am deeply honoured to receive this recognition at the ET Inspiring Leaders Awards 2023. It is truly a testament to the hard work, dedication, and innovation of the entire Jammbo team. I would like to express my sincere gratitude to the organizers for this honour and for providing a platform that celebrates and encourages entrepreneurial endeavours. This recognition fuels our commitment to excellence and inspires us to reach even greater heights in the future"
Jammbo is one of India's fastest-growing toy brands, co-founded by serial entrepreneurs Manasvi Singh, Vipin Nijhawan, and Anirban Chatterjee. The company has quickly become a force to be reckoned with, thriving and setting an impressive pace, with an estimated Annual Recurring Revenue (ARR) of INR 80 crores for this financial year. The company now boasts more than 6 factories, 6 showrooms, and 500+ employees, out of which 200+ are women.
"The global toy market was valued at $163.07 billion in 2022 and is expected to surpass $302.32 billion by 2031. We aim to build Jammbo into a global brand from India with a strong focus on exporting our products worldwide," says Manasvi Singh.
Manasvi and Anirban have a working history of more than a decade. They have built and invested in multiple companies together, such as Buddy4Study, Buzzbricks, Oneto11, and Daftar, to name a few. Impressed by Vipin's deep expertise and understanding of over three decades in the toy industry, in 2018, Manasvi and Anirban decided to come on board as advisors.
Over the last 5 years, the team has been laser-focused on strengthening their manufacturing capabilities, trading, research and development, and establishing a wide-reaching distribution network across India. This trio's journey is not just a tale of chance meetings but a deliberate and dedicated effort to bring their collective complementary expertise to the forefront of the toy industry.
"We've expanded our OEM product range to over 200 items and emerged as one of the top players in the ride-on battery category. Our products are now reaching customers through well-known platforms like FirstCry and Hamleys, as well as over 1000 other B2B vendors. This growth is a testament to our commitment to quality and innovation," says Vipin Nijhawan.
After working for 5 years and really understanding what the customers want, this year, the team made the big decision to launch its very own brand, Jammbo, on August 15, 2023. Jammbo isn't just crafting toys; it's crafting success, and its journey reflects the collaborative spirit of its founders and the growing popularity of its products in the Indian market.
"The toy industry is vast and often unorganized, presenting a significant opportunity for companies like ours. Since our inception, we've prioritized not just growth but also making profits. Currently, we're operating at a Profit-after-tax (PAT) margin of 10-15%. As we continue, we are confident that technology will play a crucial role in helping us boost our PAT to an impressive 30-40% in the next two years," says Anirban.
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