{"id":12839,"date":"2024-02-07T13:30:48","date_gmt":"2024-02-07T13:30:48","guid":{"rendered":"http:\/\/lonecandle.com\/?p=12839"},"modified":"2024-02-07T13:30:48","modified_gmt":"2024-02-07T13:30:48","slug":"toy-manufacturers-shift-from-china-is-no-childs-play","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=12839","title":{"rendered":"Toy manufacturers’ shift from China is no child’s play"},"content":{"rendered":"\n

\n\n“Toy makers grappling with surging costs in China are finding no easy options when it comes to shifting production to cheaper centres elsewhere.<\/p>\n\n\n\n

Six years ago, monopoly maker Hasbro approached Indian durable goods and aerospace supplier Aequs to sub-contract.<\/p>\n\n\n\n

“They said if you can get into toy manufacturing, now we’re looking to shift millions of dollars worth of product from China to India,” Rohit Hegde, Aequs’ head of consumer verticals, told Reuters. “We said: as long as we can get at least about $100 million of business in the next few years, we can definitely invest in it.”<\/p>\n\n\n\n

Fast forward to today and Aequs makes dozens of types of toys for Hasbro and others including Spin Master in two 350,000-square-foot facilities in Belgaum, India.<\/p>\n\n\n\n

But Hegde and other manufacturers acknowledge that India and other countries cannot match China for efficiency”<\/p>\n\n\n\n

…<\/p>\n\n\n\n

“Still, for toy manufacturers including Hasbro and Barbie doll maker Mattel, the risks of relying on China for most of their production were highlighted during the COVID-19 pandemic, when Chinese ports struggled to export goods and were periodically shut down, leaving shipments stranded.<\/p>\n\n\n\n

Soaring labour costs in China had already been driving manufacturers across industries to diversify production geographically.”<\/p>\n\n\n\n

…<\/p>\n\n\n\n

“setting up to source from other countries can take 18 months if a company is buying product from a contract manufacturer, and up to three years if a firm is building a new factory from scratch, Rogers said.”<\/p>\n\n\n\n

https:\/\/www.yahoo.com\/finance\/news\/toy-manufacturers-shift-china-no-130838077.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

“Toy makers grappling with surging costs in China are finding no easy options when it comes to shifting production to cheaper centres elsewhere.
\nSix years ago, monopoly maker Hasbro approached Indian durable goods and aerospace supplier Aequs to sub-contract.<\/p>\n

“They said if you can get into toy manufacturing, now we’re looking to shift millions of dollars worth of product from China to India,” Rohit Hegde, Aequs’ head of consumer verticals, told Reuters. “We said: as long as we can get at least about $100 million of business in the next few years, we can definitely invest in it.”<\/p>\n

Fast forward to today and Aequs makes dozens of types of toys for Hasbro and others including Spin Master in two 350,000-square-foot facilities in Belgaum, India.<\/p>\n

But Hegde and other manufacturers acknowledge that India and other countries cannot match China for efficiency”<\/p>\n

…<\/p>\n

“Still, for toy manufacturers including Hasbro and Barbie doll maker Mattel, the risks of relying on China for most of their production were highlighted during the COVID-19 pandemic, when Chinese ports struggled to export goods and were periodically shut down, leaving shipments stranded.<\/p>\n

Soaring labour costs in China had already been driving manufacturers across industries to diversify production geographically.”<\/p>\n

…<\/p>\n

“setting up to source from other countries can take 18 months if a company is buying product from a contract manufacturer, and up to three years if a firm is building a new factory from scratch, Rogers said.”<\/p>\n

https:\/\/www.yahoo.com\/finance\/news\/toy-manufacturers-shift-china-no-130838077.html<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[89,217,165,377],"class_list":["post-12839","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-china","tag-economics","tag-economy","tag-manufacturing"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/12839","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12839"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/12839\/revisions"}],"predecessor-version":[{"id":12840,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/12839\/revisions\/12840"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}