8 June 2023
Under the Radar: Ace Turtle on holding licences to brands such as Toys “R” Us and Lee for India; India’s retail scene and whether the market is fragmented; Adopting a vertical retail model; On being EBITDA-positive in FY22/23; US$34m Series B funding round; Dockers' re-entry into
India’s retail scene is at the heart of our conversation, with the country being the fifth largest global destination in the retail space and expected to reach US$2 trillion in value by 2032 based on an analysis by the Boston Consulting Group.
So how do international brands get a slice of the booming Indian market? Well perhaps the answer lies in licensees who operate and manage the brand in their place.
Our guest for today is Ace Turtle is a tech-native retailer who holds the exclusive licences to brands such as Lee, Wrangler, Toys “R” Us and Babies “R” Us for India.
What is unique about the firm is that it adopts a vertical retail model, where it controls the entire supply chain of brands, from design, manufacturing to distribution, both online and offline.
This has helped it respond to customer needs more efficiently and effectively, and we will find out whether that is the company’s secret sauce to being able to sink its roots in the Indian retail scene.
On Under the Radar, Drive Time’s finance presenter Chua Tian Tian sat down with Ervin Lim, Chief Strategy Officer, Ace Turtle to find out more about the opportunities in the Indian market and how Ace Turtle is positioning itself to seize them.

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