Kidswear retailer Toonz Retail targets 200 stores by FY19

April 06, 2017 - India

Babywear and kidswear retailer Toonz Retail plans to increase its store count to 200 from the current 100 outlets and also touch revenues of Rs 100 crore by fiscal 2019. Most of the new stores will be opened in smaller cities, since they have a lower cost of operations and they will be in the ratio of 70 per cent of stores in cities and the rest in metros.

"Given our aggressive growth plan, we are looking at opening 100 stores in the next three years and are targeting Rs 100 crore turnover by fiscal 2019," Sharad Venkta, CEO at Toonz Retail told a news agency.

The retailer opened 20 outlets in the previous years and has plans to open 24 more stores in 2017, will also diversify its product portfolio in its two private labels. (AR)