Striders Impex IPO

Striders Impex is engaged in the design, sourcing and distribution of toys and kids’ merchandise. The company is operating on an asset-light model with third-party manufacturing in India and China and selling through a mix of modern retail, general trade and e-commerce channels. Its product portfolio includes plush toys, school bags, luggage, stationery, water bottles, lunch boxes, sunglasses and other kids’ accessories.

The company sells its products under global licensed brands as well as its own brands like Pugs at Play, Furry Pals, Gurliez, Boojee and others. For FY25, licensed products contributed 67.38% followed by co-branded products at 22.72%, and owned brands at 9.90%. The company has a diversified distribution network with 144 distributors and 33 retailers in FY25 and a strong offline presence complemented by growing e-commerce sales.

Offline business dominates the revenue streams of the company with retail being the largest revenue generator. In FY25, retail sales accounted for 77.96%, followed by distributor sales at 21.31%, and e-commerce, which accounted for only 0.72%. Revenue for the company is categorised into two categories: Toys and Kids Merchandise, with Kids Merchandise being the largest category. In FY25, Kids merchandise accounted for 63.43%, led by bags at 34.79%, followed by Back to School at 16.50% and sunglasses/watches at 12.14%. Toys accounted for 36.56% with the major categories including pugs at play at 21.83%, lic plush at 6.50%, and smaller contributions from activity sets and toys and own IP plush.

So geographically revenue is largely domestic with 98.89% from India and 1.11% exports in FY25 whereas within India key regions are West with contribution of 41.68%, followed by North at 27.09% and South at 23.28%.