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Tag: Dhvanil Sheth

  • “We believe that customers globally are naturally shifting to products that are better for the environment”: Dhvanil Sheth

    “We believe that customers globally are naturally shifting to products that are better for the environment”: Dhvanil Sheth

    Mumbai: Skillmatics, founded in 2017 by Dhvanil Sheth, has redefined play-based learning for children and families worldwide.

    Standing out in the world of play-based learning Skillmatics offers innovative products designed to build core skills joyfully. The best-selling Guess in Ten games enhances problem-solving while exploring topics like animals and geography. The Foil Fun art kit offers mess-free creativity, meeting the needs of modern families. With versatile themed variations, Skillmatics leads by blending education and fun, stimulating cognitive development in young minds.

    Indiantelevision caught up with Skillmatics founder and CEO Dhvanil Sheth to learn more about their brand, USP and more…

    On the Skillmatics launch and challenges that you have faced

    Skillmatics was launched in 2017 and has been a pioneer in providing enriching play-based learning experiences for children and families. Our journey has had its fair share of challenges as we have grown from a two-member team to a global business with offices in four countries. The initial years were the hardest as no investor was willing to back our vision of building a global consumer brand from India. Such an endeavour had never been attempted or achieved by a start-up and as a result, we faced a lot of difficulty raising financing. In hindsight, this was a blessing in disguise as we learnt how to be frugal from day One and grow our business profitably. The other key challenge we faced was despite having very innovative products, we were unable to get large global retailers to launch our products in their stores. However, once we demonstrated success online, this barrier was overcome, and we are now present in over 30,000 retail locations globally.

    On unique features or innovations in Skillmatics’ products that set them apart in the industry

    At Skillmatics, we pride ourselves on the innovativeness of our products. We thoughtfully design our products to ensure they build core skills in children through the joy of play. Our best-selling product, Guess in 10, is a super fun game designed to build problem-solving skills in children while simultaneously helping them learn about key topics like animals, geography, space etc. Another leading innovation from Skillmatics has been our Foil Fun product. This mess-free art kit empowers children with independent creative play. Foil Fun meets the needs of modern families seeking engaging solutions that enable creative expression in their children. What truly distinguishes Skillmatics is our commitment to crafting original content, protected by trademarks and copyrights, ensuring unparalleled originality. Our products offer versatile themed variations, appealing to a diverse range of interests. By going beyond conventional educational games, Skillmatics establishes itself as an industry leader, blending learning and fun through a content-driven strategy that stimulates cognitive development in young minds.

    On the breakdown of Skillmatics’ revenue by different regions or countries

    Skillmatics is a global business with a presence in 20 countries across both online and offline retail. Our core markets are North America, the UK and India. North America accounts for ~70 per cent of revenues, India is ~10-15 per cent of revenues and UK is ~10 per cent of revenues. We have offices in Mumbai, Palo Alto, Dallas, and Manchester.

    On new markets or countries that Skillmatics is particularly interested in entering

    Skillmatics is strategically poised to expand its global footprint by venturing into new markets. We are looking to deepen our presence in Canada, Australia, Germany, and the Middle East in the coming year.

    On the next three-year plans, and upcoming initiatives for additional fundraising or partnerships to support Skillmatics’ expansion and growth

    Our core focus over the next three years is to establish Skillmatics as a dominant brand globally that is synonymous with “learn through play”. We plan to significantly expand our product assortment by entering newer categories while simultaneously deepening our distribution globally across both online and offline retail. Over the last seven years, we have built an intrinsic understanding of how to build brands and products that address the needs of parents. We intend to leverage this capability along with our global operating infrastructure and distribution to build new brands in adjacent categories. India is our fastest-growing market, and we believe the market has reached an inflection point. We will be investing heavily in India in the near term. We plan to launch India-specific products that are tailored to local preferences, and dial-up marketing to increase brand awareness and deepen our distribution and reach.

    We are a profitable business with large cash reserves, so there is no need to fundraise currently. That being said, we will require additional capital sometime in the next three years to support the increased scale of the business, grow our teams internationally and scale up our newer initiatives which are currently being incubated.

    On the company’s commitment to sustainability and any specific initiatives

    We take sustainability very seriously at Skillmatics. We are walking the talk and have partnered with a leading global climate agency to implement a model of offsetting the carbon consumed per unit sold by making an equivalent financial contribution to a renewable energy project. As a result, 60 per cent of our sales are carbon neutral today and we intend to cross the 75 per cent threshold soon. We also have a strong focus on using sustainable materials in all products. For instance, we only use wooden dice in our games while all other companies use plastic dice. Another example is that we use FSC-certified paper in our products.  

    On the strategies that Skillmatics employs to influence consumer behaviour towards choosing eco-friendly options

    We believe that customers globally are naturally shifting to products that are better for the environment. Our focus is to provide customers with sustainable, carbon-neutral products at competitive price points. If we can achieve this, we believe customers will always pick us. 

  • Skillmatics caps 2023 with a global footprint and record growth: Dhvanil Sheth

    Skillmatics caps 2023 with a global footprint and record growth: Dhvanil Sheth

    Mumbai: Incepted in 2017 by Dhvanil Sheth and Devanshi Kejriwal, Skillmatics has emerged as a prominent global games and toys brand. With the sole mission of transforming the concept of ‘learning through play’, the brand’s expertise lies in developing innovative learning resources and educational games for children of all ages. Operating on a direct-to-consumer (D2C) model, Skillmatics has rapidly evolved into an award-winning brand gaining a myriad of accolades for their innovative offerings.

    In a bid to alter the traditional idea of learning, by integrating it with play, the founders of the company discovered three primary challenges that modern-day parents frequently encounter. First, parents wanted products that enabled skill-building in their children through independent play. Second, excessive screen time was having an adverse impact on the development of children, and finding engaging alternatives to screen time was a top priority for parents. Lastly, parents globally were looking for sustainable non-plastic products. Skillmatics seeks to address these problems with its range of innovative, content-led products that build core skills and reinforce key learning outcomes through play. Additionally, Skillmatics products are carbon neutral and made using sustainable and recyclable materials.

    Current achievements

    In the short span of five years, Skillmatics stands out with a user base exceeding seven million, a dedicated team of over 200 professionals and a diverse product range. What started with just one range of preschool learning aids has since expanded its product range in a big way by entering multiple new categories like guessing and trivia games, art and craft kits, puzzles, family board games, and more. They started off with 10 SKUs and currently stand at over 200 active SKUs. In addition to broadening their product line, Skillmatics has significantly increased their geographical reach too. With a presence in over 15,000 retail stores worldwide, including leading retailers such as Walmart and Target, the brand’s exquisite product range can also be found in popular stores including Hamleys, Crosswords and others.

    While the company’s physical expansion is surely tremendous, its online growth is also nothing short of incredible. Across several categories, including games, preschool, and arts and crafts, Skillmatics is amongst the top five brands on Amazon and a global bestseller with 1,50,000 4.7-star reviews. Apart from this, the brand enjoys a notable presence on Flipkart and has also partnered with well-known international brands including Peppa Pig, Disney, Marvel, and Harry Potter.

    Although their widespread online and offline popularity is proof of the high quality of their products, the 25 international awards and accolades that they’ve earned over the years serve as an additional testament to the relevancy and reliability of their educational resources. These include NAPPA, Parents Best Toys and Toy Insider for their bestselling products like Guess in 10, Foil Fun, Rapid Rumble, Found It!, Write and Wipe Activity Mats, Who Knows You Best? and High Contrast Flash Cards. Furthermore, Skillmatics’ best-selling game “Guess in 10” has become a global sensation and a household name in a short span of time.

    Future outlook

    The robust current growth trajectory of Skillmatics indicates that its future growth will be nothing short of remarkable. As a brand that started off with just Rs 40 lakhs as initial capital, Skillmatics today has grown to become a multi-million-dollar company with a worldwide presence and 100 per cent consistent growth. It recorded a revenue run rate of Rs 265 crore for FY 2022-2023 and anticipates a revenue run rate of Rs 425 crore for FY 2023-2024. In addition to their existing product range, they aim to broaden their offerings by introducing 50 plus new products annually across a wide range of categories.

    Creating playful learning experiences for children, Skillmatics strives to become a trusted market leader in three core markets i.e. USA, UK and India. Scaling up their offerings, the company aims to penetrate new markets and expand their distribution network. Diversifying their established presence, they also look forward to launching newer global brands in related fields.