Tablez, the retail subsidiary of Lulu Group International, has launched 2 stores of the Chinese lifestyle brand Yoyoso in Bengaluru after entering into a strategic cooperation agreement with the brand a year before.
Adeeb Ahamed, Managing Director, Tablez, said, “Everyday young lifestyle brand is a segment that we don’t have a presence in currently. Yoyoso launches products in a 60-90 day cycle. The fast turnaround keeps up with the requirement of the market. With the large population mix in India and the growing aspiration of the middle class, this product would be good for us to capture.”
Yoyoso is an affordable fast-fashion brand that sells products ranging from health and beauty, home necessities and stationery to digital accessories. It operates about 1,000 stores worldwide since its launch in 2014.
Xie Wen Liang, cofounder of Yoyoso, said, “India is a country of fashion. With the joint effort we will develop Yoyoso into a leading lifestyle brand in India’s retail industry.”
Followed by the stores in Bengaluru, Tablez will open more stores in Bengaluru, Mangaluru, and Ghaziabad followed by Pune. They aim to reach a target of 100 stores within the next 3 years.
Notably, 10 stores will be opened by the end of 2019 alone.
“With 5-10 stores in operation, we should be hitting a turnover of Rs. 5 crore by the end of this year. In 3 years, we aim to earn Rs. 200-250 crore,” said Ahamed.
An e-commerce portal is also on the charts with its launch planned within the next 12 months.
