Toonz Retail to double store count, eyes Rs 100 crore turnover by FY19

By

Maverick Martins

Published
Apr 3, 2017

Kidswear retailer Toonz Retail is looking to double its store count to 200 in the next three years and also eyeing a turnover of Rs 100 crore in the next financial year.

"Given our aggressive growth plan, we are looking at opening 100 stores in the next 3 years. We want to be a one stop solution for a child's needs ... We are targeting Rs 100 crore turnover by fiscal 2018-19," Toonz Retail Managing Director and CEO Sharad Venkta told a news agency.

At present, Toonz Retail has over 100 outlets. The company opened 20 stores last year and is looking to open 24 outlets this year.

Venkta said the company is also diversifying its product portfolio with its two in-house brands.

"In our apparel sub-brand Superyoung, we will expand our product reach through various other channels apart from our own stores, while in Wow Mom we are looking at introducing whole range of baby care range and then create an independent strategy for these brands," he said.
 
Elaborating on expansion, Venkta said: "We are seeing good numbers from smaller towns along with encouraging year-on-year growth. Smaller towns have lower cost of operations also, thus we are targeting expansion in such towns which are high on potential and aspirations. From mix point of view 70 per cent stores will be in non-metros and balance 30 per cent in metros."

Toonz Retail operates stores in Delhi-NCR, Karnataka, Jharkhand, Odisha, Tamil Nadu, Kerala, Uttar Pradesh, Telangana, Haryana, Punjab, Maharashtra, Madhya Pradesh, Rajasthan and Arunachal Pradesh.