As informed by a top company official, the multi-brand retail chain Tablez aims to clock in a turnover of about Rs. 500 crore.
The company also plans to expand its network to nearly 250 stores in India over the next 5 years.
We must underline here that Tablez India, a subsidiary of the UAE-based conglomerate Lulu Group, plans to invest around Rs. 75 crore yearly, aiming to expand its retail footprint in the country.
Currently, the retailer runs 67 stores in India.
Tablez, under its omnichannel expansion strategy, is all geared up to strengthen its presence on digital and online platforms as well as physical stores.
Vasudevan Balakrishnan, COO, Tablez Retail, told PTI that by the financial year 2025-26, the company will probably be looking to cross a turnover of Rs. 500 crore.
He added that the company will have 250 stores and “some more other revenue channels by then.”
The COVID-19 pandemic hasn’t really shaken the group’s spirits, as it is quite optimistic about its growth target for the Indian market, Vasudevan further commented.
He went on to highlight that the company will invest around Rs. 70-75 crore a year. “It could be even more as these are broad numbers.”
At the same time, Vasudevan also mentioned that as per the strategy, the company will re-calibrate the investment in brands post-2021.
“We are looking at if any new brands could come to our fold, we also have to do cost corrections for any brand running with us or the store network,” he shared.
