Tablez inks strategic cooperation agreement with YOYOSO
By Satarupa Chakraborty | August 14, 2018
Inking a strategic retail operation agreement with Chinese lifestyle brand YOYOSO, Tablez has revealed their plan to set up 30 YOYOSO stores across key locations in India in next 5 years.
Tablez, the organised retail arm of LuLu Group International, has recently announced that it has signed a strategic cooperation agreement with Chinese lifestyle brand YOYOSO to bring its stores to India. Adeeb Ahamed, MD, Tablez inked the agreement with Ma Huan, YOYOSO Brand Founder and Company President, in a ceremony held in Yiwu, China.
Headquartered in Yiwu, China, YOYOSO offers affordable, fashionable and trendy daily life products that have great functionality, quality, design, and value. There are more than 5,000 items in the YOYOSO product line, with new ones added every month. With more than a decade of experience in retail operations the fashionable leisure department store chain has more than 1,000 stores worldwide.
Tablez plans to open stores of YOYOSO across multiple locations in India over the next five years, with 30 stores to be launched in key cities in the first phase.
Adeeb Ahamed, MD, Tablez, said, “We are excited to join hands with YOYOSO to bring the world-famous fast-fashion leisure department store brand to India. YOYOSO products are simple, natural, high-quality and have great value. We are sure that it will strike a chord with the discerning Indian consumers.”
The parent company of Tablez, LuLu Group International had in June announced that it will increase its yearly exports for its retail stores from China which stands currently at US$220 million to US$300 million. LuLu Group International is also looking at setting up Hypermarkets in Yiwu and other major cities in China at an investment of US$200 million.
Ma Huan, the president of YOYOSO, said: “Indian market is one of the most important part of global market. It’s a great opportunity for both YOYOSO and Tablez. Through the mutual cooperation, we are confident that YOYOSO will bring plenty of surprises and happiness to new generation of India.”
Tablez, the organised retail arm of retailing giant LuLu Group International, has introduced leading global brands in F&B, toys, lifestyle and apparel to India. The company has signed master franchise agreements to bring brands like Springfield, Women’secret, Toys 'R' Us and Babies ‘R’ Us to the country. Tablez also holds franchise rights for Cold Stone Creamery and Galito’s in addition to successfully developing two home-grown brands: Bloomsbury’s and Peppermill. Tablez currently operates more than 55 outlets globally and plans to expand to 175 outlets by 2020.