Abu Dhabi-based Lulu Group, owned by Indian entrepreneur Yusuff Ali, thinks the time to pursue aggressive growth plans in India’s retail and hospitality sectors has come. The brand retailing arm Tablez has started rolling out stores under seven brands with a five-year target revenue of Rs 750 crore and Twenty14 Holdings has started off with three hotel projects.
“We have arrived in the nick of time. The organised retail is picking up and more importantly the purchasing power of the middle class has come to the level that will support our brands. We are bullish about the market,” said Adeeb Ahamed, Managing Director, Tablez, LuLu Exchange Holdings and Twenty14 Holdings.
Tablez, the brand retailing arm, has launched seven brands in the Indian market. This includes like Bloomsbury’s, an artisan coffee shop and bakery owned by the company. It also has the franchising licence to operate food and beverages brands like US-based Cold Stone Creamery and South African Galito’s. It also has brought in toy brands ToysRUs and BabiesRUs and Spanish apparel brands Springfield and Women’secret.
Tablez has opened 14 stores cross these brands and will keep adding 20 to 25 stores every year for the next few years. Tablez is a $50 million company in the UAE and it hopes to grow to a bigger size of Rs 750 crore in the Indian market in the next five years.
“We hope to clock three-digit growth in the initial two to three years,” he said.
The hospitality arm has three hotel projects in the pipeline - two five-star properties in Bangalore and one four-star property in Kerala. It is in talks with Marriot for managing the properties.