Hanung Retail, retail arm of Hanung Toys & Textiles (HTTL), announced their plans to open 50 home furnishing and soft toys stores by the end of the current fiscal. The plan will be implemented with an investment of Rs 45 million.
HTTL is reckoned internationally in the field of soft toys and home furnishings. In India, it has the distinction of being a manufacturer and exporter of soft toys and home furnishings. The company owns Play-n-Pets and Muskan brands in stuffed toys and Splash in home furnishings.
“We have plans to open 30 stores of Play-n-Pets, which showcase wide range of toys and 20 Splash home furnishing stores by 2008-09,” said Varun Sachar, general manager, Hanung Retail.
Initially, Hanung plans to expand its stores in north India.
“We will open our stores in Uttaranchal, Allahabad, Lucknow, Gorakhpur, Ludhiana, Jalandhar, Mohali and Amritsar and some other parts of the country,” Sachar said.
Currently, the company owns four Splash and three Play-n-Pets stores, mainly located in Delhi, Noida, Gurgaon, Jammu and Dehradun.
With operations started in April this year only, the company also looks at the possibility of its own in-house packaging division for its home furnishing products. “Presently, we are getting our products packed from outside, which adds to our cost. That is why we are thinking to have our own packaging division,” said Sachar.