Tablez to expand retail network, eyes Rs 500 crore revenue by 2025
Multi-brand retail chain Tablez is planning to strengthen its retail presence in India to around 250 stores and is eyeing revenue of Rs 500 crore ($67.7 million) over the next five years.
Tablez India, a subsidiary of the UAE-based conglomerate Lulu Group, currently has around 67 stores in the country, and plans to invest around Rs 75 crore every year to fuel its expansion plans.
“By FY 2025-26, we will probably be looking to cross Rs 500 crore turnover. We will have 250 outlets and have some more other revenue channels by then," Tablez Retail chief operating officer, Vasudevan Balakrishnan, told PTI.
“The company is still optimistic about its growth target for the Indian market despite the pandemic-related disruptions. We will be investing somewhere between Rs 70 to Rs 75 crore a year. It could be even more as these are broad numbers,” he added.
Tablez India launched its operations five years ago in India and its portfolio consists of brands such as Toys "R" Us, Babies "R" Us, Build-A-Bear, GO Sport, and Yoyoso, among many others.
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