Toonz Retail aims at Rs 100 cr sales

Toonz Retail aims at Rs 100 cr sales

Toonz Retail aims at Rs 100 cr sales

Children’s lifestyle and parenting solutions firm Toonz Retail has announced investing around Rs 20 crore in India, as it moves further into the market and plans to achieve a target of Rs 100 crore sales in the next two years.

The company, promoted by the Rs 850-crore agrochemical major Crystal Group Managing Director Ankur Aggarwal, operates around 60 stores (of which, 45 are franchisee-run) in 45 cities, across 15 states. 

The stores retail apparel, toys, prams, school stationery, hygiene and wellness products, accessories and cosmetics — all catering to a customer base of children up to 12 years.

Talking to Deccan Herald, Toonz Retail India Managing Director and Chief Executive Officer Sharad Venkta said, “We are looking at expanding our store numbers to around 100 outlets in the next two years. The said outlets will be pan-India, with focus on Karnataka, Andhra Pradesh, Uttar Pradesh, and Maharashtra.

The Rs 20-crore investment, sourced internally, will be directed towards realising this as well as opening an e-commerce portal on March 31, 2015, to reach out to more customers.”

The company, which has six stores in Bengaluru, is planning to add four more by the end of this year.

Referring to the company’s revenue model, Venkta said, “We derive our business from our line of standalone and multi-brand stores, apart from our presence online on popular e-commerce sites (Flipkart, Snapdeal, eBay, Firstcry and Amazon).”

The company retails around 50 brands in the children’s lifestyle segment, apart from its own labels — ‘Wow MoM’ and ‘Super Young’. “Around 60 per cent of all our sales are earned from our own labels, which we are planning to launch abroad in the Middle East and Maldives,” he said.

“With around 30 per cent of the population less that 12 years of age, there is always scope for us to grow. We are aiming at sales of Rs 30 crore this fiscal,” he added.