Hasbro's Monopoly, a global board gaming icon with an illustrious 85-year history, is cherished by more than a billion players across 114 countries. While the classic version remains timeless, there are several exciting variants to explore, such as Monopoly Deal, Monopoly Bid, and the compact Grab and Go version. The India Edition showcases iconic Indian cities on the game board, catering to a diverse audience. Monopoly's adaptability is evident in its electronic iterations like Ultimate Banking and Super Electronic Banking, where cards and electronic units replace paper currency, keeping pace with technological advancements.

Hasbro's latest groundbreaking offering is the Monopoly Cricket version, a product that has been meticulously crafted and conceived right here in India. With the cricket season in full swing, it's the perfect time to delight both gaming enthusiasts and intellectual property aficionados. This Monopoly edition brings together the thrill of cricket and the timeless charm of Monopoly.

“This new edition is tailored for individuals of all ages and skill levels, ensuring that everyone can partake in the excitement. Whether you are a Monopoly veteran or new to the game, the Monopoly Cricket version promises an entirely novel experience. It seamlessly fuses the best of both worlds, presenting an intriguing blend of cricket and Monopoly, with straightforward rules and an abundance of strategic possibilities,” said Lalit Parmar, Country Manager, Hasbro India.

Diverse Portfolio

Hasbro operates across a diverse spectrum of product categories, showcasing its expansive presence in the Indian market. Notably, it is the leading player in the board gaming sector, a fact validated by Euromonitor. Within this realm, the company offers a range of popular brands such as Monopoly, Game of Life, Jenga, Twister, Ludo, Connect Four, and Mastermind. These encompass both board games and card games, catering to various gaming preferences.

Furthermore, it extends its influence into the Toy Blaster category, where Nerf stands out as one of its flagship brands. In the domain of action figures, Hasbro presents propositions centered around Transformers. It has also secured significant licensing agreements for globally renowned brands like Marvel and Star Wars, enabling it to bring action figures from these iconic universes to Indian audiences.

In the realm of children's entertainment, the brand introduced characters like Peppa Pig. For the preschool segment, it offers the creative and imaginative brand Play-Doh. Additionally, its portfolio includes the nurturing doll segment with Baby Alive, designed for infants and younger preschoolers.

“Overall, our diverse range of products encompasses over 1,500 brands, and we have been consistently exploring and introducing many of these offerings in the Indian market, observing positive responses and traction across various categories,” stated Parmar.

“Diversity is at the core of the brand's innovation, as demonstrated by the introduction of vernacular versions. In 2021, the Hindi Monopoly Deal version was introduced, and in 2022, Monopoly was offered in both the game board and card game formats across four southern Indian languages: Tamil, Telugu, Malayalam, and Kannada. These vernacular versions replace properties with landmarks from various states, cities, and tourist destinations, showcasing our commitment to celebrating local cultures and identities,” he added.

Overcoming Hurdles

One of its significant challenges arises from the global nature of the brands. Introducing these brands to a new market like India requires diligent groundwork to establish awareness and distribution. It's not a quick or straightforward task, but the brand has successfully navigated this challenge in the past.

The second challenge is more universal and revolves around the value of play. Encouraging play is a crucial aspect, and it's gaining momentum with government support for a toy-based pedagogy within the national education policy. However, it's a work in progress that will take time. “Despite India's vast population of 1.4 billion people, the toy industry remains relatively small, accounting for only about 1 percent of the global market. In developed countries, the per capita consumption of toys is in the range of $300-350, while in India, it's a mere $3-5, highlighting the stark disparity. This underscores the key challenge of promoting the value of play among parents and other stakeholders,” asserted Parmar.

Elevating the Indian Toy Market

Hasbro is renowned for its stringent quality standards, and this commitment to quality is extended to its offerings in India. The Indian toy industry has had its share of historical challenges, including a significant reliance on imports and concerns related to toy quality. In this regard, the company actively supports the quality control order introduced by the government and the Bureau of Indian Standards in 2021. This order establishes standardized quality levels and requirements for the industry, ensuring that high-quality toys meeting international standards are accessible in India.

A primary focus of Hasbro’s efforts is to introduce the right products and brands into the Indian market. Simultaneously, it is committed to promoting the value of play, aligning with the increasing emphasis on this aspect. Its strong sourcing footprint in India plays a pivotal role in benefiting the local market.

“Through our sourcing operations and unwavering commitment to quality, we bring to Indian consumers the assurance of superior products that meet global standards, contributing to the industry's growth and the satisfaction of customers in India,” he noted.

Roadmap Ahead

The company’s ongoing efforts include the localization of numerous global titles, with a keen focus on expanding its product sourcing within India. It is also collaborating closely with its vendor network to facilitate the transfer of technology and expertise, enabling the production of toys and games that meet global standards and resonate with a global audience. Simultaneously, it is dedicated to tailoring these products to the specific preferences of the Indian market.

“In addition to catering to the local market, our endeavors are directed towards positioning India as a key export hub. We aim to supply our high-quality products to global retailers and customers, further aligning with our vision to broaden our presence on the international stage,” he concluded.