Tablez to expand retail presence, aims to double revenue by 2020
Tablez, the retail arm of Lulu Group International, will be expanding the retail presence across India as it aims to generate revenue of Rs 400 crore ($57.7 million) by 2020.
The company is expected to close this year with sales revenue of Rs 200 crore from its brands like Springfield, Women Secret, Go Sport among others.
Tablez will be strengthening the retail presence for the French multi-sport brand Go Sport in India and has earmarked an investment of Rs 250 crore
“Tablez will be doing a majority of the openings in this calendar year so next year we will see literally doubling of whatever we close this year at. We positively feel we will have Rs 400 crore book size by 2020,” Tablez Managing Director Adeeb Ahamed told PTI.
“Our plan is to have around five stores put up in year one and 25 stores by five years. The investment for one store is close to Rs 10 crore and for 25 stores it would be around Rs 250 crore. In the first year, Go Sport is looking at an annualised turnover of Rs 70 crore and by 2020 it is looking at over Rs 150 crore,” he added.
Tablez had also launched Yoyoso in India this year is exploring the beauty, cosmetics, health and wellness sectors and has hinted at entering these segments for growth in India in the coming years.
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