Team Kids India : What opportunities are available for other companies especially on your supply chain side ?
Dhvanil Sheth : We recently raised 121 Crore in our Series B and are actively looking to partner with the broader ecosystem . We are looking to onboard manufacturing partners in India as we expand into new age groups and product categories . Further , we are also looking to make strategic acquisitions in adjacent categories as well .
Team Kids India : What is your mantra behind attracting investors ?
Dhvanil Sheth : In our experience , investors back companies who have a bold vision and excellent track record . Our focus is on building the business . If we do a good job , investors will want to invest .
Team Kids India : What would you like to say to budding entrepreneurs ?
Dhvanil Sheth : Perseverance is the key to success .
Team Kids India : Skillmatics is supplying toys to 15 countries , what advice would you like to give to other Indian companies who would like to expand and create a global footprint ?
Dhvanil Sheth : Western markets are different from India . In India , price is the most important factor . Globally , there is equal emphasis on branding and product quality . If you want to compete globally , that there can be no compromise on these aspects .
Team Kids India : What are the cultural and social dos and don ’ ts a company has to keep in mind while making their global expansion plan ?
Dhvanil Sheth : It is very important to adapt to the local market from a social and cultural perspective when you expand overseas . We have built a team in the US to help us tailor our brand and products for the market . Without understanding the local nuances , it is very difficult to have lasting success .
Dhvanil Sheth CEO , Skillmatics
Kids India E-Magazine - June 2022 | Page 7