 "DOMS buys 30% stake in Delhi-based toy maker Clap Joy for undisclosed sum")
DOMS Industries Pvt Ltd has announced the acquisition of a 30 per cent stake in toy maker Clap Joy Innovations Pvt Ltd. The move is part of DIPL's strategy to expand into newer related-product categories and leverage its global distribution reach.
Clap Joy, a Delhi NCR-based eco-friendly toy manufacturing and marketing company, was established in 2021 to cater to children in the 0-9 age group. Its portfolio includes wooden toys, flash cards, board games, activity sets, crochet toys, and educational and creative toys made from natural, non-toxic paint. In less than two years, the Clap Joy team has achieved sales of over 5,000 units a month across education, family and party segments.
"Children learn through play; learning should never be forced on them. We have dozens of toys and games that engage with kids meaningfully without taking away the simple joy of play," said Sudeep Mangla, CEO, Clap Joy.
The funds raised will also allow Clap Joy to expand its product portfolio and manufacturing capabilities. While DOMS will now have access to Clap Joy’s product portfolio, Clap Joy will gain from DIPL's extensive distribution network, consumer understanding and product development. This is expected to help the company grow its market share and expand across India and increase its revenue through DOMS’s involvement. Thacker & Associates, a Mumbai-based transaction advisory firm, has been the exclusive advisor to the deal.
With this acquisition, DOMS believes it will repeat its success in the stationery industry and become a major player in the toy sector. Santosh Raveshia, MD, DOMS said, “Clap Joy’s range of toys will bring an added element of fun and joy to our existing portfolio, furthering our commitment to providing quality products to our consumers. With the alignment of synergies of our two companies, we look forward to unlocking the potential of the toy segment and becoming a leading player in this segment.”
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