Mumbai: Toonz Retail, which specialises in retailing kids-wear and toys, plans to invest around Rs 20 crore in India for further expansion in Maharashtra, Karnataka, Uttar Pradesh and Telangana.
The company is aiming to achieve a target of Rs 100 crore sales in the next two years.
The company is currently operating with around 60 stores in 45 cities covering 15 states.
Toonz Retail is also planning to launch their two owned brands WOWMOM and SUPERYOUNG in the Middle East and Maldives.
'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. 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,' says Sharad Venkta, MD and CEO, Toonz Retail.
'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', he further added.
Toonz Retail also generates its business from its presence on popular e-commerce sites like Flipkart, Snapdeal, eBay, Firstcry and Amazon.
With around 30 per cent of the population less than 12 years of age, the company is eying sales figure of Rs 30 crore this fiscal.