Tablez, the organised retail arm of Lulu Group International, aims to target the Indian sports retail market. The company feels that this market has huge growth potential.
Tablez launched its first Go Sport store in Mumbai in May 2019. The company will open its Bengaluru store on June 8.
In India, the retail stores will work as a franchise model for Go Sport, a French sportswear, equipment and fitness firm.
Adeeb Ahamed, Managing Director, Tablez, said, “We plan to have around five such stores in India, including the Mumbai and Bengaluru stores, by May 2020 and aim to expand this to a total of 25 stores in the next five years, spread across cities in the country. Each of our stores will be set up with an investment of around Rs 10 crore, and altogether we are planning to invest close to Rs 250 crore for setting up all the stores.”
“We will tread a cautious approach in India and are not targeting to set up more than five stores a year in the country. The size of our stores will be large format multi-brand stores, a minimum of around 10,000 square feet. Our stores will cater to all the different segments of buyers and will offer products starting from as low as Rs 79,” he further added.