Toyshine Shark Tank India Pitch:
Toyshine is a preschool and toddler specialist indoor toy brand which appeared on Shark Tank India Season 2. Their unique proposition is that they make high-quality unique toy designs at an affordable price. The founder shared that their target age group is between newborn to around 12-year-old kids. The company also had over 2000 SKUs to provide a variety to their consumers.
Toyshine had over a million views on Amazon by the time of their pitch and was one of the leading companies on the platform. The founder shared that the company’s vision is to be kids first and last toy manufacturer, and to fulfill this vision, he sought an investment of ₹1.25 Crores in exchange of 0.5% equity in the company.
Toyshine’s Financials & Revenue during Shark Tank India:
Toyshine made a revenue of ₹45 Crores in FY21-22. The founder added that they started selling exclusively online in 2018. In just their first financial year of FY18-19, They made a revenue of ₹10 Crores just from the online business. This was followed by 150% growth in following year where they closed the year with revenue of ₹25 Crores. Following that, They made revenue of ₹40 Crores in FY20-21.
Toyshine shared that more than 85% of their toys are made in India. The company was making revenue of ₹4-4.5 Crores per month at the time of their pitch. They added that the company is hoping to close the year with revenue of ₹52-54 Crores in FY22-23. The company is making a net profit of 15% on their revenue after all expenses. Interestingly, The brand launches a new toy every week.
Furthermore, The founder shared that despite having an inventory of over 2000 SKUs, their out-of-stock rate usually stays under 5% due to operational strength. Also, Their design resource team is provided by their core manufacturers. Additionally, the company shared that its core strength is its product and selection. The company’s Average order value is at ₹700.
Toyshine Shark Tank India Negotiations & Funding:
Amit loved the entrepreneur but couldn’t get comfortable with the valuation of the company therefore, he went out of the negotiation. Aman advised the founder to focus on branding, but he did not invest in the business. Namita couldn’t find any uniqueness in design therefore, she went out as well. Anupam went out due to local competition, and the company doesn’t have any IP.
Peyush added that this would be a very different journey from this point on and the founder needed to focus on details and branding but he couldn’t see an exit as an investor so he went out as well. Toyshine walked out of the Tank without a deal.
Who is the founders of Toyshine?
Rohit Khanna founded Toyshine. He is from Jalandhar, Punjab. The founder shared that his father owned a toy store until 2018 and he’s always been interested in the business of toys.
How is Toyshine doing after Shark Tank India?
Our research in Toyshine revealed that despite not getting a deal on Shark Tank India, The show had a positive impact on the company as It gave nationwide exposure and validation. In the summer of 2024, The founder shared that they have reached an incredible milestone where now over 95% of their products are made in India.
As of September 2024, The company is still in business and thriving. Their business continue to grow and you can check out their products by clicking the Amazon button below!
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Here are other companies from Season 2 Episode 35.