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.
Denne historien er fra October 2024-utgaven av Images Retail.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra October 2024-utgaven av Images Retail.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Building the Midmanagement is Critical in a Scaling Organisation
Nirav Jagad, Chief People Officer of Sugar Cosmetics speaks about ensuring the right! opportunities for the right talent in a complex omnichannel organisation that is on a fast track to growth
Uppercase Upping the Ante
Travel gear brand Uppercase is upgrading the standard of luggage in India through innovative approach and prodcuts and sustainable practices
The Strategy is to Go City by City and Saturate Each
Gerard McGurk, Head of Retail and Commercial Operations at Index Living Mall and Mahesh M, CEO, Creaticity speak about Thailand's numero uno furniture brand's strengths, its India entry and strategy
Design and Experience Differentiate Indriya from Competitors
Sandeep Kohli, CEO of Aditya Birla Jewellery’s Indriya about the brand’s strengths, strategies and aspirations
At Good Glamm, AI Chatbots Have Slashed Workload by 70-80%
Deep Ganatra, Chief Product & Technology Officer (CPTO), The Good Glamm Group sheds light on the role of technology in the beauty and wellness industry and its impact on personalisation
How Blinkit, Swiggy Instamart, Zepto and Others are Redefining Shopping
A quick snapshot of India’s quick commerce landscape highlighting key players, challenges and opportunities
Electronics and Q-commerce: A Marriage of Convenience
Why more and more electronics and gadget brands are taking to q-commerce
5 ways D2C Brands Can Leverage the Power of Technology
The direct-to-consumer (D2C) market in India is at an exciting juncture, with brands redefining how they operate, innovate, and engage with consumers. But what does the future look like for these brands as they adopt technology?
The Business of Offering Immersive Experiences
Shopping centers are using immersive experiences to attract more shoppers and boost business
5 ways D2C Brands Can Maintain the Growth Momentum
D2C brands should embrace a customer-first mindset, leverage technology, and know when to expand offline to keep the growth momentum going