Toonz Retail targets to set up 200 stores in next five years
According to Toonz Retail India’s Managing Director and CEO Sharad Venkta, the company – which is a one-stop shop for children aged up to 12 years – has efforts underway to set up 200 stores in the country over the next five-year period.
At least 10 of the 200 stores which Toonz retail plans to set up in five years will be in Kerala, particularly in smaller towns.
Toonz Retail already has a prominent presence in South India; with 35 out of its current 50 stores located in Kerala, Karnataka, Andhra Pradesh and Tamil Nadu. In addition, the company also has stores in Delhi, Maharashtra, Punjab, Haryana, and Uttar Pradesh.
Revealing that investment in a Toonz Retail store ranges from between Rs 20 lakh and Rs 40 lakh, depending on the market and the store size, Venkta said that the plans to increase the Toonz Retail store count to 200 in the next five years essentially underscores the company’s focus on consolidating its presence in India.
In response to a question about Toonz Retail’s plans to start stores in other countries, Venkta told PTI: “There are some talks for International business however that largely in line of supplying our brands “Womom’ and ‘SuperYoung’ to our business partners. These talks are in very initial stage and nothing has been crystallised as yet.”
Source- The Financial Express
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