In a world where only the bold survive, Stone Sapphire India Pvt. Ltd. is rewriting the rulebook on business success. Under the sharp-eyed leadership of CEO Shobhit Singh, this powerhouse is not just playing the game but dominating it — sweeping up market shares in everything from stationery, homeware to sports. What’s their secret sauce – distribution and licensing, with a vision to touch the moon! In an exclusive tell-all, Singh reveals how the company’s daring moves are reshaping industries and what’s next on their ambitious agenda.

The ‘Multi-Verse’ Giant

"We have different verticals as our revenue points," says Singh. "Stone Sapphire is into stationery, toys, homeware, and now we are venturing into sports. Each vertical operates as a separate strategic business unit, with its own P&L and team." This organizational structure allows the parent company to maintain a sharp focus on each business area while leveraging cross-selling opportunities across the company’s diverse product portfolio.

The company's stationery brand, Skoodle, is a prime example of this strategy in action. In just six years, Skoodle has managed to penetrate 30,000 out of the estimated 200,000 retail outlets in India — a testament to the brand’s growing influence. But Skoodle isn’t the only player in this space. Stone Sapphire also holds distribution rights for Maped, the world’s second-largest stationery company. "Maped complements Skoodle by helping us reach premium counters, which Skoodle’s mass-market products may not cater to," Singh explains.

Building the Toy Empire

In the toys vertical, Stone Sapphire has replicated its stationery strategy, with Skoodle leading the charge. The brand has made significant inroads into India’s toy market by producing a wide array of products, including plastic toys, board games, and puzzles. "We are already present in around 3,000 toy stores across India, and we’re also the distributor for Lego in select regions," Singh notes.

The partnership with Lego is particularly intriguing. "Lego is a specialized toy brand with no direct competition with Skoodle. Both brands complement each other, and this strategic business partnership helps us capture a broader market," Singh says. The company’s cautious, phase-wise approach to Lego’s distribution ensures they can scale up without overwhelming their existing distribution channels. Currently, they are concentrating in the west and the south India only; and then slowly they will turn towards north and east.

Expanding into Homeware

Homeware is another vertical where Stone Sapphire has shown remarkable growth. "In homeware, we distribute brands like Corelle USA, BergHoff (Belgium), LAV (Turkey), and our own Peggy Oliver. These brands are niche players in glass dinnerware, non-stick wares, and high-end glasses," Singh elaborates. Stone Sapphire’s in-house brand, Peggy Oliver, rounds out this vertical with its offering of porcelain dinnerware and mass-market drinking glasses.

Singh emphasizes the company’s commitment to value for money, even in the premium segments. "We are 30 percent cheaper than competitors like Noritake, yet we offer similar quality. Our strategy is to provide a sense of pride and value to our customers without overpricing," he adds. “It is a high-end porcelain imported from Sri Lanka with 24 karat gold plating. However, it is still value for money.”

The Sports Verse: Braven

One of the most exciting developments at Stone Sapphire is their recent foray into the sports vertical with the Braven brand. Unlike traditional sports equipment manufacturers, the company aims to create a comprehensive sports ecosystem. "Our goal is to solve the pain points in Indian sports. Why aren’t we at the top of the medal tally in the Olympics? Why don’t we produce more world-class athletes?" Singh questions, with the passion of a former basketball player himself.

Braven is not just about selling sports equipment; it’s about nurturing talent. "We are constituting a property called Braven Leagues, where we’ll host small competitions across India. We’ll scout for talent, provide them with resources, and even track their progress through our data management team," Singh reveals. This ambitious plan includes the creation of a sports school in Baroda, where students will receive both academic and sports education, ensuring a stable future even if they don’t make it as professional athletes. "We’re also setting up an HR cell to help these athletes find careers, whether in sports or elsewhere. We want to assure parents that their children’s future is secure with Braven," he emphasizes.

There is definitely a revenue opportunity in selling game equipment. The company is focused on making this equipment affordable, aiming to price it at a level where every child can access the right gear. For example, while footballs are available at both Rs 200 and Rs 2,000, there is a vast difference in the quality. While it's not feasible to reduce the price, Braven’s goal is to bring it down to around Rs 1,000 without compromising the quality. This approach increases affordability and aligns with the company's vision of making relevant brands accessible to a wider audience.

Embracing Licensing and Combating Counterfeits

Licensing is a crucial part of Stone Sapphire’s strategy across all verticals. The company holds licenses for globally recognized characters like Disney’s Mickey Mouse, Hasbro’s Transformers, and Nickelodeon’s Paw Patrol. "Licensing helps increase the marketability of our products. We co-brand our Skoodle products with these characters to make them more appealing to children," Singh explains. “When we co-brand, like adding a Mickey Mouse character to a Skoodle product, it’s to boost marketability, not to be seen as a mass commodity brand. Even with the royalty, we keep prices fair without inflating them just because of the license.”

However, the licensing market in India comes with its own set of challenges, particularly when it comes to counterfeit products. "Counterfeit licensed products are a significant issue in India. We keep licensors informed and they take action, but the real solution lies in pricing. By not overcharging for licensed products, we reduce the incentive for counterfeits," Singh argues. “When we make our products more affordable, we reduce the profit margin for counterfeiters. They thrive on high returns, so if we lower prices, they lose interest because the risk outweighs the reward. I also suggest to licensors that they should lower royalty and licensing fees. This approach makes our products more accessible, which can help cut down on counterfeit products by eliminating the financial incentive for fakes. If the revenue isn’t worth the risk, they won’t bother.”

The future of licensing in India, Singh is optimistic. "With more exposure to global characters through TV and YouTube, the demand for licensed products will only increase. We’re using licensing not as a profit tool but as a way to make our products more relevant and appealing to consumers," he concludes.

Omnichannel and Quick Commerce Strategy

Stone Sapphire’s omnichannel approach ensures that their products are available across retail, modern trade, e-commerce, and even HoReCa (Hotels, Restaurants, and Catering). "Each channel has its own team and strategy. For example, 20-25 percent of our homeware sales come from e-commerce, while toys and stationery are more dependent on general trade," Singh shares. Modern trade accounts for 10 percent, with the remainder from general trade. In toys, 10 percent of sales are through e-commerce and another 10 percent through modern trade, while 80 percent are from general trade. For stationery, e-commerce is minimal, due to low ASPs.

The company is also adapting to the growing trend of quick commerce, partnering with platforms such as Blinkit and Swiggy. "Quick commerce is essential as buying patterns are changing. We’re already working on getting our products listed on these platforms, starting with non-fragile items," Singh says.

Looking to the future, Stone Sapphire is exploring the possibility of opening its own multi-brand stores, which would serve as both retail outlets and experience centers. "These stores will allow customers to experience our full range of products, which is often difficult in traditional retail due to space constraints," Singh explains. Last year, we closed our revenue at Rs 250 crore. This year, our target is Rs 400 crore. Over the next four years, we aim to reach Rs 1,000 crore.

The company plans to enter the fast-moving consumer goods (FMCG) sector. Currently, they cover stationery, toys, home goods, and baby stores. They aim to expand into kirana grocery stores, the largest market segment. Their focus will be on baby consumer products, specifically those that are chemical-free and organic. They intend to ensure that these organic products are not priced at a premium, countering the common perception that sustainability comes with a high cost.

Singh concludes, "Our vision is clear: we want to become the world's largest relevant brand distribution company. And relevance means offering the right utility at the right price."