Toonz Retail to add more stores by 2020

Toonz Retail plans to have 200 stores by 2020 up from 100 stores as of now. Toonz Retail is a kids’ wear and toys retailer. It’s targeting a turnover of Rs 100 crores by fiscal 2018-19. The company opened 20 stores last year and is looking to add 24 more outlets this year. It operates stores in Delhi-NCR, Karnataka, Jharkhand, Orissa, Tamil Nadu, Kerala, Uttar Pradesh, Telangana, Haryana, Punjab, Maharashtra, Madhya Pradesh, Rajasthan and Arunachal Pradesh.

Toonz is seeing good numbers from smaller towns along and encouraging year-on-year growth. Since smaller towns have lower cost of operations, the company is targeting expansion in towns which have high potential and aspirations. The plan is to have 70 per cent stores be in non-metros and rest 30 per cent in metros.

The company is shaping its business well for profitability and sustainability. It is on the lookout for an opportunity to partner with a venture capitalist, which will bring in funds and adds value to its entire ecosystem. Toonz Retail is also diversifying its product portfolio with its two in-house brands. Apparel sub-brand Superyoung will expand its reach through various other channels apart from own stores, while Wow Mom will have a whole range of baby care range with an independent strategy for these brands.