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 October 2024 edition of Images Retail.
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This story is from the October 2024 edition of Images Retail.
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