New Delhi, Jun 9 (PTI) Retail chain Tablez, which is owned by the UAE-based Lulu Group, on Wednesday said it would rebrand the existing toy stores by launching its own proprietary retail brand by the end of this year.
Tablez is operating toy stores under the brand name Toys“R'Us.
The development comes a day after e-commerce major Flipkart announced forming a joint venture with Ace Turtle to bring Toys”R”Us and Babies”R”Us to its platform by secured licensing rights in India.
Tablez, which operates 15 toy stores, said in a statement it is bullish about the prospects of India’s toy sector and has already lined up six additional toy stores for launch by March 2022.
The company will rebrand its existing toy retail stores across key Indian cities by the end of this year, it added.
“The company, which has been an active stakeholder in the Indian toys sector for the last six years, feels that the launch of a proprietary toy retail brand is a necessity considering the changing market dynamics,” the statement said.
Tablez will officially unveil the new toy retail brand in the coming weeks, it added.
“The launch of our proprietary brand gives us space and flexibility to adapt to the emerging market demand for functional and experiential spaces across India’s urban and emerging markets,” said Tablez India MD Adeeb Ahamed.
Presently, Tablez owns 15 toy stores housing products of major international toy brands, in malls located in Mumbai, Delhi, Bengaluru, Ghaziabad, Pune, and Chennai, it added.
“Having invested over Rs 300 crore in the Indian retail market, we at Tablez are especially bullish about the prospects of India’s toy sector and will be furthering our investments in the sector, in line with our vision to innovate value and deliver world-class experiences to the Indian consumer,” Ahamed said.
According to him, the Indian toy market is evolving fast, and Tablez’s investments into technology and user experience have enabled it to get a deeper understanding of the Indian consumer.
“Through our new stores and e-commerce channels, we aim to apply our learnings to build outlets that can double up as both shopping & entertainment avenues for kids and parents,” Ahamed said.
Tablez, which has a substantial presence in India, has introduced leading global brands in F&B, toys, lifestyle, and apparel to India.
It is the master franchise of brands like Desigual, Build-A-Bear, GO Sport, YOYOSO, Cold Stone Creamery, and Galito’s.
Tablez operates 55 brand stores in India and plans to expand the number to 250 over the next five years. PTI KRH ANU ANU