26 July 2024
(IOC), a major oil marketing and refining company based in India with a presence around the world signs an exclusive memorandum of understanding (MOU) with Deepak Houseware and Toys Pvt Ltd., also known as Urban Tots, a quickly growing start-up that produces and sells toys like electronic toys and roll play. Urban Tots plans to set up toy shops and kiosks in IOCL retail locations as part of the mutually beneficial collaboration, enabling the company to sell its products to clients visiting the IOCL retail locations to purchase petroleum products. IOC would allow Urban Tots to construct a kiosk on an empty plot of ground located within its retail outlet. Following the signing of this partnership, IOCL retail locations will carry a variety of new Urban Tots toys, which is anticipated to further increase consumer confidence. IOCL has already been involved in effectively offering parking, food, and water amenities to facilitate a positive and delightful experience for its consumers. By February 1, 2023, Urban Tots first five locations are scheduled to open at IOC gas stations. The MOU deal will increase Urban Tots' yearly revenue by 100 crores.
