Toonz Retail, a four year-old brand, plans to leverage the growing lifestyle-related opportunities for infants and children in smaller towns. Sharad Venkta, MD and CEO, Toonz Retail, highlighted their strategy in this emerging consumer segment.
Kindly throw more light on Toonz?
Overseas, parents buy a range of products for young children including several high-end products, and we realised a ‘void’, especially in smaller towns. And, as young children watch several cartoon programmes each day, we branded our kid’s store ‘Toonz’.
We offer more than 3,500 SKUs for children upto 12 years, and with prices ranging from Rs 99 to Rs 14,999.
Who is your target audience?
We are focused on opportunities in tier-II and-III towns, and while this segment is expanding, but the presence of organised retail is rather limited.
You recently launched your own kidswear brands. What was the rationale for this move?
We set up our retail network four years ago, and our brand become popular, quickly. However, the margins were rather low. We then decided to launch our kidswear brands WowMom for newborns and toddlers, and SuperYoung for older children.
The size of the kidswear market is also expected to grow to Rs 50, 000 crore, shortly.
What is your expansion strategy?
We have grown our retail network to 45 outlets on a pan India basis via franchising, and we are aiming to expand this network to 50 centres before the end of this fiscal.
What are the investment requirements for potential franchisees?
An entrepreneur would need to have a store ranging between 1200 and 2500 sq ft along with the ability to invest Rs 35-50 lakh.