Toonz Retail, one of the largest kids retail chain in India is planning to invest Rs 30-50 crore in expansion to set up 100 new stores by 2019-20.
The one-stop shop for all the needs of kids from 0-12 years of age, is already running 107 stores in India and in the coming year it is looking to come up with stores in Maharashtra, Gujarat, Uttar Pradesh among other.
With major expansion plan in Mumbai, in the year 2018-19, Toonz re-launched its first store in Mumbai at Ghatkopar, R-City Mall and is targeting to add 10 more stores in Mumbai. Keeping in sync with the high demand, Toonz is also expanding its product category in fashion and baby care segment.
“Depending on the city and locality the new store capital budget varies from Rs 30-50 lakh where approx 8-10 per cent is spent on marketing for the initial months. With a target of 200 stores for the next 2 years, Toonz is growing at a rapid pace of 22 per cent in same store growth and 60 per cent in terms of company turnover,” shared Sharad Venkta, MD and CEO, Toonz Retail.
“There lies a vast opportunity especially in baby care segment. With mothers becoming more experimenting and quality conscious, this gives manufacturers an opportunity to introduce the right set of products. Unlike fashion segment, which sees more or less a seasonal demand, baby care segment has a demand throughout the year”, he added.
Among the different products that Toonz Retail sells, basic baby products that includes infants wear, bath and sleep products are very fast moving. And the company is receiving steady growth in high-end toys such as battery cars, action figures etc.