Lulu Group (UAE) Arm Plans to Open 20 Toy Stores in India
02 May 2019 - Tablez, the brand retailing arm of Dubai-based LuLu Group International, is planning to set up 20 Toys ‘R’ Us shops across the country, said a top official.
“As part of the plan, we opened the first store in Chennai at Phoenix Market City recently,” said Adeeb Ahamed, managing director, Tablez.
“The rest will be opened in different parts of the country within a year,” he said.
According to him, each store entailed an investment of ₹20 crore each, which would be met through internal resources. When pointed out that Toys ‘R’ Us had filed bankruptcy during 2017, he said: “We have signed a master-franchise agreement with U.S. brand Toys ‘R’ Us to introduce Toys ‘R’ Us and Babies ‘R’ Us branded outlets to India. In the last 12 months, we have opened six stores.”
The Chennai store, which is the seventh in the series, is spread over 6,000 sq ft. It offers a range of toys for both boys and girls in the age group of 3-11 years and has a dedicated section for each category of toys, he said.
On the performance of the new stores, Mr. Ahamed said: “All the stores are doing brisk business. That’s why we have three stores in Bengaluru. Roughly, it will take 12-24 months for a store to achieve break-even.”