Bengaluru-based tech and integrated manufacturing retail company Ace Turtle, which operates brands like Lee, Wrangler, Toys "R" Us, Babies "R" Us and Dockers in India, plans to double its revenue to ₹1,000 crore by financial year (FY) 2027-2028, up from its projected ₹500 crore sales for the current fiscal year, a company top executive told Phygital.
"The company's long-term vision aims to grow each of our brands to ₹500 crore by FY 2035. To support these ambitious goals, Ace Turtle plans to commence its Series C fundraising round in early 2025," said Nitin Chhabra, chief executive officer (CEO), of Ace Turtle.
Expansions Ahead
Chhabra revealed that Lee and Wrangler have achieved profitability in FY24, demonstrating the effectiveness of Ace Turtle's tech-driven approach which includes eliminating middlemen and ensuring price parity across channels, supported by data-driven decisions on product assortment. Since its founding in 2014, Ace Turtle has been at the forefront of integrating technology into retail, initially launching with a software-as-a-service (SaaS) model before transitioning to a licensing and franchise model.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Leading The AI Revolution In Retail
As a leader in AI-driven retail intelligence, Sadique Ahmed, CEO, Pathfinder, understands the power of technology when it comes to improving and personalising the shopping experience for all.
Flipkart Deployed Over 10,000 Electric Vehicles in the Delivery Fleet
E-commerce major Flipkart on Monday said it has deployed over 10,000 electric vehicles (EVs) in its delivery fleet as part of a phased integration of EVs in the last mile delivery over the past few years.
Trent Q2 Profit Grows 47% to 335 Cr
Tata Group retail firm Trent Ltd. reported a 46.9% growth in its consolidated net profit to ₹335.06 crore for the second quarter ended September 2024.
Zomato, Swiggy Hike Platform Fee in Certain Cities Amid Festive Season
Online food delivery platforms Zomato and Swiggy hiked platform fees in certain cities amid the festive season. The two rivals are now charging ₹10 as a platform fee in the national capital.
The Evolution of Retail in North India
Emerging Hotspots, the Rise of Malls, and the Impact of the Residential Property Boom on the Region’s Retail Landscape
Madan Retail: Fashion for Today's Man
With a rich legacy and a keen eye on future trends, the brand continues to innovate and expand, meeting the evolving needs of its customers
Special Events in Malls
Giant Peacock, Lotus, and Swan: Orion Malls' Festive Spectacle
Building a Retail Legacy on Efficiency
Founded by Hemant Agarwal and Rahul Jhunjhunwala, V-Bazaar began operations in May 2016, opening its first store in Lakhisarai, Bihar.
From Urban Trends to Rural Aisles
V-Mart, a pioneer in the value retail segment, was founded by Lalit Agarwal in 2003—well before value retail became a widely recognized term.
Defining Elegance
Dennison has carved a niche in the menswear market with a diverse range of formal and semi-formal pieces priced between ₹999 and ₹3,999.
