Tablez eyes to double its revenue in India by 2020

Tablez, the retail arm of Lulu Group International, is planning to double its revenue in India to Rs 400 crore by 2020. Following the calendar year, the brand retailer aims to garner revenue of over Rs 200 crore in 2019 calender year.

Adeeb Ahamed, Managing Director of Tablez, said, "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."

The company is expecting a turnover of Rs 1,000 crore in the next five years. Presently, Tablez’ toy segment is the largest contributor followed by apparel segment and food and beverages.

Tablez had forayed into India in 2016 and stated that it would invest Rs 470 crore over the next five years.

The company has also launched the French multi-sport brand Go Sport in the country. It is eyeing at opening 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," Ahamed stated.