LIMRA Holdings Subsidiary KTI To Boost Sri Lanka's Forex Ear...| MENAFN.COM

Tuesday, 29 November 2022 06:23 GMT

LIMRA Holdings Subsidiary KTI To Boost Sri Lanka's Forex Earnings With PLEX Toys Launch In India


(MENAFN- Colombo Gazette)

Kiddies & Toys International (KTI), a subsidiary of leading Sri Lankan conglomerate LIMRA Holdings Limited, has launched PLEX toys in India by unveiling its first toy range“The Playing Blocks”. The toys were launched in partnership with Viacom18 Media, India's fastest growing entertainment network and a house of more iconic brands including Nick and Nick Jr., the number-one entertainment brands for kids.

PLEX, an own intellectual property under KTI, in keeping with the brand's motto of 'Shaping Leaders of Tomorrow' was created to help nurture the next generation through toys that drive creativity, inspiration and innovation. PLEX toys range is specially made for children from the ages of 3 months to 9 years and comprises infant toys, puzzles, activities, wooden toys, building blocks, steam toys, role play toys, seasonal toys, and licensed toys. All PLEX toys are made with child safety standards, provide value for money, and are backed by international certifications.

Being a Sri Lankan company, the export and sale of PLEX toys by KTI in the Indian market will help bring in valuable foreign exchange earnings to Sri Lanka which in turn will contribute towards easing of the current economic situation. LIMRA Holdings is present internationally through strategic joint ventures in the SAARC, Middle East and South East Asia such as Bangladesh, Oman and Singapore, thereby giving it multiple opportunities to bring in foreign exchange earnings to Sri Lanka.

Sharing his thoughts on the launch, Nabhan Akeel – Chairman/Group CEO of LIMRA Holdings Limited stated,“Sri Lanka is in the midst of an economy crisis and it is vital that exporting companies ramp up their efforts in order to bring in valuable foreign exchange and prop up the local economy. As a leading corporate entity in Sri Lanka, we have taken on this responsibility by enhancing our efforts on multiple fronts to achieve this national goal. The successful PLEX launch in India is one of several such initiatives that we have outlined. We will continue to promote exports by making strategic expansions into key regions of the world to seek successful business opportunities.”

Anthony Pinto – Vice President of KTI India Private Limited commented,“KTI India team started conceptualizations to build the idea into a quality product of international standards in the category space followed by an aggressive Go-To-Market strategy by the Sales leads and their team ensuring we have a successful launch. We have planned multiple toys/games in 2022 under our brand PLEX where all toys will be unique and of international quality standards. Our pure focus is to make PLEX one of the favourites brand among kids and infants' category on the global map and we have a 3 year plan to take the brand to different continents eventually. Overall, our plan is to make PLEX a US$ 10 million brand by 2026.”

LIMRA Holdings is a medium-sized diversified conglomerate in operation for the past 28 years. It was established as an IT business which is now successfully diversified into 12 group companies in four sectors across six clusters. Kiddies & Toys International (KTI) was formed in 2001 as one of LIMRA Holdings' subsidiaries to exclusively market baby, mother care products and toys. The company is the Exclusive Agent in Sri Lanka for internationally-renowned brand Farlin and the local agent for iconic global toy brands Lego and Mattel. Through its subsidiaries, the group also manages and distributes over 25 top global brands and seven own brands in the local market.

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