Tablez to expand retail footprint, aims 250 stores across India
By Retail4Growth Team | Retail4Growth Team | October 26, 2020
The company is looking forward to investing Rs. 75 crore every year for the next five years, in the country’s expansion.
The subsidiary of the UAE- based conglomerate Lulu Group, Tablez plans to expand its network from 67 to 250 stores in India. The company is looking forward to invest Rs. 75 crore every year for the next five years, in the country’s expansion.
Vasudevan Balakrishnan, COO, Tablez, stated, “The Company will be probably looking to cross Rs. 500 crore turnover. We will have 250 outlets and have some more other revenue channels by then. The company is still optimistic about its growth target for the Indian market despite the pandemic-related disruptions.”
Considering the year as a watershed for the industry, Vasudevan added, “Expansions and build-ups have happened in the last three years. We are taking our learning from the market. We are also taking to understand how different markets respond to the different brands that we have in the kitty. The market would take some time to heal and we will also re-calibrate the entire business plan accordingly, and go slow across all brands.”
The company entered India five years ago with its main presence in South India throughout retail and food segments, and is looking to make a mark in the entire country.