Candytoy Corporate Partners with Reliance Retail for Major Expansion

Candytoy Corporate has partnered with Reliance Retail to supply confectionery toys for 1,400 stores. The agreement could generate Rs 4-4.5 crore monthly by the end of the fiscal year. CTC expects to close this fiscal between Rs 260-280 crore and plans to explore an IPO in the next 2-3 years.

Candytoy Corporate, a leading manufacturer of candy toys, has secured a partnership with Reliance Retail to supply confectionery toys for 1,400 stores, according to company officials.

Gaurav Mirchandani, the founder Director, stated that the agreement, initiated a couple of months ago, includes an active purchase order for more than 15 outlets, expected to expand to 200 by Diwali and 1,400 by the financial year's end.

The deal is projected to generate Rs 4-4.5 crore monthly from Reliance Retail's stores. CTC, which supplies globally to 40 countries, aims to close this fiscal at Rs 260-280 crore and expand to Rs 400-450 crore next fiscal. The company is also considering an IPO in the next 2-3 years to fund further expansion.

(With inputs from agencies.)