Toonz Retail to make Rs 5 crore investment to come up with 10 new stores
Toonz has also announced that it is launching new collection of its home brand Wowmom, Superyoung and Superyoung Celebration for the winter and Party season.BY Indian Retailer Bureau | Dec 22, 2016 | comments ( 0 ) |
Toonz Retail, a one stop shop for all the needs of kids from 0-12 years of age, has announced the launch of 10 stores in December 2016, further expanding its retail portfolio of 100+ stores.
Sharad Venkta, CEO and MD, Toonz Retail, said, "We will be investing 5 crores including company and franchise for launching these stores. We have already launched stores in Bhavnagar, Gwalior, Jaipur, and Borivali in this month and within couple of weeks we are launching stores in Davangiri, Bangalore, Nashik, Jabalpur, Hubli and Akola. Apart from smaller towns spread across the country, our focus is on eastern and western region."
He said Toonz is going to invest around 15 lakh per store and the store size would be greater than 1000 square feet.
Venkta added, "Store size depends on market to market but mostly is greater than 1000 sq ft. Typical investment (including company and franchise) goes to approx Rs 50 lakh which includes, fit-out costs, merchandise, marketing etc."
Toonz has also announced that it is launching new collection of its home brand Wowmom, Superyoung and Superyoung Celebration for the winter and Party season. Toonz brands are available in countries including Nepal, Mauritius, GCC countries, Fiji, and Papua New Guinea and are also sold on portals including Flipkart, Snapdeal, Jabong, Firstcry, Paytm, Amazon amongst others.
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Toonz Retail targets 100
Toonz Retail, which specialises in retailing kids-wear and toys, plans to invest around Rs 20 crore