Kidswear brand Toon Kidz is looking to scale up its presence from 28 outlets to 150 by the end of this year. â€œThe company is geared up to have 150 EBOs in the current year. We will have these EBOs opened in A and B cities of India,â€ said Venkat RV, MD, Toon Kidz to IndiaRetailing.
Meanwhile, most of the proposed stores will be franchisee-owned. â€œWe are sure that franchising is the best suitable plan for the apparel industry. All the leading brands world wide follows the same route and it is a proven business model over a period of time,â€ added Venkat.
Talking further about the average investment per store, Venkat disclosed, â€œThe investment required per store will be Rs 16 lakh to 25 lakh. The average retail space per store will be 1,000 square feet.â€
Discussing the business model of Toon Kidz, Venkat informed, â€œOur company is offering minimum guaranteed returns on the project i.e., 18 per cent on the investments plus the total operational cost. This is a very strong point of the whole business model.â€
About companyâ€™s overseas operations, Venkat said, â€œIn the Gulf, we have our presence in 85 LFS formats and 3 EBOs are coming up. We have 6 EBO stores getting launched in Egypt.â€