Toonz Retail, which specialises in retailing kids-wear and toys, is eyeing a turnover of Rs 100 crore by the end of financial year 2015-16 with a network of over 150 shops.
The company, which would add five stores by the end of March this year, is also planning for capex of around Rs 20 crore in next two years.
“We are aiming to cross Rs 100 crore sales target by the end of financial year 2015-16. We would also have a capex of Rs 20 crore in next two years,” Toonz Retail Managing Director and CEO Sharad Venkta told PTI.
The company expects a turnover of Rs 30 crore this fiscal. It is operating 45 stores in Delhi, Karnataka, Andhra Pradesh, Tamil Nadu, Kerala, Uttar Pradesh, Haryana and Punjab.
It is also expecting increase in its revenue from b2b sale from its two in house brands Wow MoM and Super Young, said the two years old company, which has started its first store in Banagalore.
“We would keep expanding in the Northern and Southern parts of the India,” said Venkta adding that “We have a sincere belief that this particular segment has lot of potential.”
Toonz Retail, which has modeled it as one-stop shop for kids of 0 to 12 years, is expanding its network based on franchise model.
Currently, the company is selling products ranging from Rs 19 to Rs 14,999.
India is having around two crore birth every year and moreover 30% of India’s present population is below 13 years.
“This segment has huge potential and still has not been defined. There is big dearth of opportunity from supply side in this segment,” said Venkta.
According to him, it has potential to grow between Rs 30,000 crore and Rs 80,000 crore.
Source: Business Standard
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