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Toonz Retail eyes Rs 100-cr sales by FY 2018
26 Jul '16
2 min read
Toonz Retail, which runs a chain of off line stores in the country selling everything for kids from clothes to crayons, has plans to open 50 more stores of its new apparel brand 'Super Young' and become a Rs one billion brand by the end of financial year 2017-18.
The Company's Retail Managing Director and CEO Sharad Venkta said the company was aiming for a turnover of over Rs 100 crore turnover by financial year 2017-18 and planned to do so with the help of 'Super Young'.
“There is a big gap in apparel offerings in the market..we are looking to cover that with Super Young brand," Venkta told PTI adding that they would position the new brand by opening smaller stores in metro cities and in premiums shopping malls.
"We expect 'Super Young' to contribute 18-19 % in our total sales..We plan to invest Rs 20 crore for expansion. This sum will be utilised for brand building and development of new products," he said.
At present, the company operates 100 Toonz Retail outlets in South and North India, and 70% of these are in South India. They have stores in Delhi-NCR, Karnataka, Jharkhand, Odisha, Tamil Nadu, Kerala, Uttar Pradesh, Telangana, Haryana, Punjab, Maharashtra, Madhya Pradesh, Rajasthan and Arunachal Pradesh.
The company which is expanding its network based on franchise model, plans to open more outlets in South India, while expansion at the international level is also on the cards by exploring new markets especially GCC countries, Egypt and Mexico.
"At present, we have one operational store in Saudi Arabia...we plan to open two more by September this year..We are also in discussion to open more stores in international locations...but it may take time to materialise..," he said.
The company also supplies its products to Fiji, Mauritius and Nepal. (SH)
The Company's Retail Managing Director and CEO Sharad Venkta said the company was aiming for a turnover of over Rs 100 crore turnover by financial year 2017-18 and planned to do so with the help of 'Super Young'.
“There is a big gap in apparel offerings in the market..we are looking to cover that with Super Young brand," Venkta told PTI adding that they would position the new brand by opening smaller stores in metro cities and in premiums shopping malls.
"We expect 'Super Young' to contribute 18-19 % in our total sales..We plan to invest Rs 20 crore for expansion. This sum will be utilised for brand building and development of new products," he said.
At present, the company operates 100 Toonz Retail outlets in South and North India, and 70% of these are in South India. They have stores in Delhi-NCR, Karnataka, Jharkhand, Odisha, Tamil Nadu, Kerala, Uttar Pradesh, Telangana, Haryana, Punjab, Maharashtra, Madhya Pradesh, Rajasthan and Arunachal Pradesh.
The company which is expanding its network based on franchise model, plans to open more outlets in South India, while expansion at the international level is also on the cards by exploring new markets especially GCC countries, Egypt and Mexico.
"At present, we have one operational store in Saudi Arabia...we plan to open two more by September this year..We are also in discussion to open more stores in international locations...but it may take time to materialise..," he said.
The company also supplies its products to Fiji, Mauritius and Nepal. (SH)
Fibre2Fashion News Desk – India
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