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Toonz, retailer of children’s products, is set to foray into the western and eastern markets in India.
It is now present in southern and northern States.
“We will be starting with four outlets in Maharashtra, including one each in Nagpur and Pune, through the franchise route in the next few months, Sharad Venkta, Managing Director of Toonz Retail India, told Business Line.
At present, it has about 40 stores , including 11 in Andhra Pradesh, six in Karnataka, nine in Kerala and two in Tamil Nadu.
Sharad Venkta was in Hyderabad to launch a new one-stop store for children, with five more in the pipeline in the State.
He said the company was targeting a total of 100 stores this fiscal and 150 by the end of 2014-15. About 70 per cent of these are through the franchise route, with each outlet requiring an investment of between Rs 50 and 70 lakh.
Toonz offers a range of products under its brands - Wowmom and Superyoung - apart from other products through tie-ups with foreign and Indian companies. It began its operation in 2010 when it opened its first store in Bangalore.
It is in talks with some overseas companies to bring in new products in the baby care and nursery segment.
“The baby care products will include creams, baby oil and powder. We expect to conclude the tie-up in the next few months,” he said, without naming the companies. The children’s products market is estimated at Rs 40,000 crore, with many new players set to enter the market as some existing popular brands are facing problems.
Trade body Assocham estimates the baby care products market alone to grow by 40 per cent to Rs 4,200 crore by 2014 from Rs 3,000 crore in 2011-12.
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