Toonz Retail to expand into Gulf market

Home-grown kids lifestyle retailer Toonz Retail has inked an agreement with Saudi Arabia-based Tariq Albassami Group for expanding into the GCC nations.

The company said it is also mulling the possibility of entering African nations.

Toonz Retail said Albassami group will be the master franchise. The two companies intend to set up about 10 stores by March next year.

Sharad Venkta, MD and CEO, Toonz Retail India, told

BusinessLine that, “We were looking to expand into the market which operate in similar price point as India and also more or less has similar climatic conditions. GCC countries seemed lucrative on that front.”

Toonz Retail is promoted by the ₹850-crore agrochemical major Crystal Group Managing Director Ankur Aggarwal. It operates about 85 stores in 12 States. The company operates through the franchise model. The stores retail apparel, toys, prams, school stationery, hygiene and wellness products, accessories and cosmetics — all catering to a customer base of children up to 12 years.

Toonz Retail recently also set up its online retail portal. “We set up our venture during the last quarter. We are still working out on the modalities in the logistics before we expand,” Venkta said, adding the company was seeing significant growth in third party online marketplaces.

The company said it is targeting a revenue of ₹100 crore in the next two years.

Toonz Retail has its own labels – WowMom and Superyoung. “About 60 per cent of our sales come from our private labels. Our two labels will also be soon retailed in the GCC markets,” he added.