Toonz Retail to sell in the Gulf nations

Kids lifestyle brand, Toonz Retail, has tied up with Saudi Arabia-based Tariq Albassami Group for starting business in GCC nations. The Albassami Group will be the master franchise and the two together will set up 10 stores by March next year.

Toonz Retail is promoted by the Rs 850 crore agrochemical major Crystal Group, which is headed by Ankur Agarwal. The company has 85 stores in 12 states. It sells mostly apparel, toys, prams, school stationery, hygiene products, accessories and cosmetics. Their target customers are children upto the age 12 years. The company operates through franchise model. Recently, the company set up its online portal. Toonz Retail is targeting a revenue of Rs 100 crore in the next two years. About 60 per cent of its sales come from its own labels, WowMom and Superyoung.

Sharad Venkta, MD and CEO, Toonz Retail India is looking to expand in those markets which operate in ‘similar price points as India as well as has the same climatic conditions’. The company is also looking to explore the Africa market.