Tablez aims to double its revenue in India by 2020
By Retail4Growth Team | May 28, 2019
The company is expecting a turnover of Rs 1000 crore in the next five years.
Tablez, Lulu Group’s organised retail arm, is reportedly aiming to double its revenue in India to Rs 400 crore by 2020. Following the calendar year, the retailer aims to garner revenue of over Rs 200 crore in 2019 calendar year.
Adeeb Ahamed, Managing Director of Tablez was quoted as saying in a report, “Tablez will be doing a majority of the openings during this calendar year, so next year we will see a doubling of whatever we close this year at. We positively feel we will have a Rs 400 crore book size by 2020.”
According to PTI, the company is expecting a turnover of Rs 1000 crore in the next five years.
Tablez had forayed into India in 2016 and reportedly would be investing Rs 470 crore over the next five years. The retailer brand currently operates in more than 60 outlets globally and plans to expand to 300 outlets by 2021.
The retail brand has introduced leading global brands in F&B, toys, lifestyle and apparel categories in India. The company has also signed master franchise agreements to bring brands like Springfield, Women’secret, Toy‘R’US and Babies’R’US to the country.
The retail arm of LuLu Group International, Tablez India, has announced a partnership with a US-based customised stuffed-animal retail-entertainment brand Build-A-Bear.
This is the 19th store of Cold Stone Creamery in India with 15 more outlets set to be launched across the country by end of 2019.