DOMS, a manufacturer of stationery products, purchases a 30% share in ClapJoy, a startup that produces toys
- ByStartupStory | March 6, 2023
Clap Joy Innovations Pvt Ltd, a toy manufacturer, has had 30% of its stake acquired by DOMS Industries Pvt Ltd. This acquisition aligns with DIPL’s plan to broaden its presence in associated product categories and make use of its worldwide distribution network.
Established in 2021, Clap Joy is a company located in Delhi NCR that specialises in producing and promoting environmentally friendly toys for children between the ages of 0 to 9. Their product range comprises a variety of items, such as wooden toys, flashcards, board games, activity sets, crochet toys, and educational and creative toys crafted with non-toxic paint from natural sources. In just under two years, the team at Clap Joy has successfully sold more than 5,000 units each month across various categories, including education, family, and party segments.
According to Sudeep Mangla, CEO of Clap Joy, “children acquire knowledge through play, and it should never be an imposed activity”. He added that their company offers numerous toys and games that allow kids to engage in meaningful learning without compromising the basic pleasure of play.
The investment obtained will enable Clap Joy to broaden its product range and enhance its manufacturing capabilities. Moreover, by partnering with DOMS, Clap Joy will be able to benefit from the latter’s wide-reaching distribution network, consumer knowledge, and product development resources. As a result, the company is likely to expand its market share, extend its presence across India, and generate more revenue through its association with DOMS. The transaction was advised by Thacker & Associates, a transaction advisory firm located in Mumbai.
DOMS is optimistic that it will achieve similar success in the toy industry following its recent acquisition. According to Santosh Raveshia, the MD of DOMS, “the addition of Clap Joy’s range of toys to their existing portfolio will provide consumers with even more quality products, adding an extra layer of fun and joy. By aligning the synergies of both companies, DOMS aims to capitalise on the potential of the toy segment and emerge as a key player in this market”.
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