Tablez, the retail arm of Lulu Group International, is aiming to double its revenue in India to Rs 400 crore by 2020.
Tablez, the retail arm of Lulu Group International, is aiming to double its revenue in India to Rs 400 crore by 2020. The brand retailer, which has interests in toys, fashion, speciality retail and food and beverages, follows the calendar year and is targeting a revenue of over Rs 200 crore in 2019 calender year. “Tablez will be doing a majority of the openings in this calendar year so next year we will see literally doubling of whatever we close this year at. We positively feel we will have a Rs 400 crore book size by 2020,” Tablez Managing Director Adeeb Ahamed told PTI.
In the next five years, it expects a turnover of Rs 1,000 crore. Currently, the toy segment is the largest contributor followed by apparel segment and food and beverages. The franchising company entered India in 2016 and had said it would be investing Rs 470 crore over the next five years. The company would look to amplify the investment next year, Ahamed said. Tablez has launched the French multi-sport brand Go Sport in India and plans to open five stores in the first year.
“Our plan is to have around five stores put up in year one and 25 stores by five years. The investment for one store is close to Rs 10 crore and for 25 stores it would be around Rs 250 crore,” he said. He added that in the first year Go Sport is looking at an annualised turnover of Rs 70 crore and by 2020 it is looking at over Rs 150 crore. As the master franchise for Go Sport in India, it launched its first store in the city on Saturday and will be opening another in Bengaluru. It aims to focus on these two cities in the first year and then would look at Hyderabad, Vizag, Gurugram and Chandigarh.
He observed that sports good market in the country is estimated to be around USD 3.3 billion growing at 9 per cent and is expected to be USD 5.5 billion next year. Tablez has 13 brands in its portfolio including Springfield, Women’secret, Toys’R’Us and Babies’R’Us, Cold Stone Creamery, Galito’s. “Food and beverage is a category we feel has a possibility to grow. We will look to acquire one or two brands to grow that portfolio. Toys we will not grow, we are happy with where we are sitting. In apparel also we won’t look to add more brands to our portfolio.
“We have an everyday brand Yoyoso which is yet to be launched in India and by third quarter this year we shall be launching that brand in India. Beauty, cosmetics, health and wellness would be the areas we do not have presence in but we are evaluating whether we should have a presence or not,” he added.