Candytoy Corporate, a leading manufacturer of candy toys, has announced a partnership with Reliance Retail to supply confectionery toys to 1,400 stores across the country. Gaurav Mirchandani, the company’s founder and director, revealed that the agreement was signed a few months ago.
Currently, Candytoy has secured a purchase order for 15 stores, with plans to have 200 stores operational by the end of Diwali and 1,400 stores by the end of the fiscal year. The order from the 200 stores is projected to generate a monthly revenue of ₹2 crore, which is expected to increase to ₹4 to ₹4.5 crore per month by the end of the fiscal year.
Candytoy offers over 75 SKUs in various sweet and savory candy flavors for Reliance Retail. Valued at nearly ₹1,000 crore, the Indore-based company exports its products to 40 countries and is considering divesting around 10% of its equity to support future expansion plans, along with the possibility of an IPO within the next 2-3 years.
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CTC manufactures promotional toys and confectionery items through five production plants and 11 contract manufacturers across three continents. Mirchandani anticipates revenue between ₹260 crore and ₹280 crore for this fiscal year, with projections of ₹400 crore to ₹450 crore for the next.
The company collaborates with notable brands such as Colgate Palmolive, Puma, MTR, Bournvita, Yellow Diamonds, Vistara Airlines, and AirAsia. Mirchandani emphasized the need for time to fulfill the orders due to the opening of new molds and facilities, with results expected to be visible in the next financial year.
For this fiscal year, CTC expects to generate around ₹120 crore from exports and ₹200 crore from the domestic market, which includes B2C sales and channel partners. Regarding fundraising, Mirchandani mentioned ongoing discussions with several large investors and indicated that the company would explore going public after the fiscal year 2026-27.