NEW DELHI, Nov 2: Toonz Retail, which specialises in retailing kids-wear and toys, is expanding its network focusing on non-metro markets and has plans to add 20 stores by the end of this fiscal.
“We are expanding our footprint across the country. We are planning to take our network to 75 stores by financial year 2014-15,” Toonz Retail India MD & CEO Sharad Venkta told PTI.
The company, which has earmarked Rs 20 crore for its expansion from its promoters, presently has a network of 55 stores in 44 cities.
“We would continue to consolidate our presence in South, we have put in major thrust of expansion in north and east,” Venkta, he added.
Toonz Retail is growing 50 per cent annually and is aiming to cross Rs 100 crore turnover in next three financial years from Rs 40 crore, expected turnover in 2014-15, he added.
“The company is growing more than 50 per cent annually and looking at a turnover of Rs 100 crore annually in the next three years,” Venkta said.
“As of now, 60 per cent of our stores are operational in tier II and III cities. The ratio of sales from these stores is 55 per cent of total sales, which is quite exiting,” he said.
It has already lined up stores for Tier II and III places as Shimogha (Karnataka), Bengaluru, Pune, NCR, Varanasi, Lucknow, Bhubneshwar, Guwhati and Kanpur.
Toonz Retail is also getting a good traction from its inhouse brands Wowmom and and SuperYoung. Apart from their own retail point, they are sold through its online partners. (PTI)
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