Toonz Retail to foray into eastern and western India markets
Toonz Retail, the one-stop shopping destination for children between the ages of 0 and 12 years, is planning to branch out in the western and eastern markets of India.
With a sales target of achieving around, 1000 million in next two years and an investment sum of some, 200 million, the company plans to open a series of new stores in several Indian cities.
Speaking about the new expansion plan, Sharad Venkta, managing director and chief executive officer Toonz Retail, said "We are looking at expanding our store numbers to around 100 outlets in the next two years in the country with special focus on Karnataka, Andhra Pradesh, Uttar Pradesh, and Maharashtra.
In addition to new store openings in the domestic market, the firm is also planning to foray into Middle East and Maldives with its two popular brands Wowmom and Superyoung.
Also plans to launch an e-commerce site is in the pipeline. "Witnessing the increased demand for online shopping we are coming up with our own e-commerce portal by March 31, 2015, to reach out to more customers. We at Toonz Retail look forward to re-define kid's retail segment in the country through our extensive and well researched stuff for Indian consumers,, revealed Venkta.
Conceptualized in 2010, Toonz Retail India Pvt. Ltd. specialises in children's apparels, toys, prams, school stationery, hygiene and wellness products, and accessories and cosmetics. The company currently operates with around 60 stores in 45 cities covering 15 states including Delhi, Karnataka, Andhra Pradesh, Maharashtra, Tamil Nadu, Kerala, Uttar Pradesh, Haryana and Punjab. Apart from brick-and-mortar stores, the firm also generates business from its presence on popular e-commerce sites like Flipkart, Snapdeal, eBay, Firstcry and Amazon.