News: Now, one-stop mobile shops to occupy Indian mall space
(TNN 24/04/2006) New Delhi - Telecom boom is meeting the retail revolution and mobile phones are finally finding a space of their own. One-stop mobile shops — handsets, accessories and service of any brand — are infiltrating the mall space and players like Pantaloon are taking the bait. The Essar Group, also reportedly in the fray, would join Bangalore-based MobileNXT Teleservices that has taken off with its first store in Gurgaon.
With the arrival of specialty mobile stores, the monopoly enjoyed by the unorganised multi-brand stores, the only ones offering such services, may soon be a thing of the past.
Having already launched in Gurgaon, MobileNXT will be following up with stores at Kolkata and Ahmedabad. “In the first year of operation, we plan to roll out 31 stores all over the country,” says Romy Juneja, founder COO, MobileNXT Teleservices, a multi-brand store offering handsets of all brands, mobile accessories, value-added services, data transfer facilities, an exchange programme and interactive kiosks.
The company has made an initial investment of $5 million and is targeting sales of Rs 45 crore by April 2007. The focus of the retail chain will be Tier II and Tier III towns. “We want to primarily target the smaller towns as these markets are underserved unlike the metros where customers do have the option of some multi-brand stores, albeit unorganised,” Juneja adds.
Leveraging its already-established presence in the retail space, Pantaloon Retail recently launched its telecom outfit Convergem Retail India Ltd, a wholly owned subsidiary of Pantaloon Retail India Ltd.
“Convergem Retail plans to follow a three-pronged strategy. Shop in shop with their Big Bazaar stores, independent brand stores, and kiosks in malls, multiplexes and the metro catering to impulse buying, under three brand names M Bazaar, M Port and Gen M respectively,” says Neeran Chibber, president and CEO, Convergem Retail.
By June, it plans to launch 40 stores across cities such as Gurgaon, Kolkata, Nagpur and Mumbai. Along with mobile phone services, the retail outfit would also cater to landline solutions, IT products and other communication needs of a consumer. Investments of around Rs 100 crore has been earmarked for the venture. Retail bigwigs are not the only ones to cash in on mobile retail. Also showing interest is the Essar Group. When contacted by ET, company sources said that it was planning to launch its new initiative soon. They, however, did not indicate any date.
“We are observing the huge untapped market for organised telecom retail and trying to evaluate our project accordingly. Since the size is huge, it takes time for something like this to take shape,” sources said. The Essar group is said to have earmarked around Rs 1,500 crore for the new multi-branded telecom retail chain initiative over the next five years.
With the arrival of specialty mobile stores, the monopoly enjoyed by the unorganised multi-brand stores, the only ones offering such services, may soon be a thing of the past.
Having already launched in Gurgaon, MobileNXT will be following up with stores at Kolkata and Ahmedabad. “In the first year of operation, we plan to roll out 31 stores all over the country,” says Romy Juneja, founder COO, MobileNXT Teleservices, a multi-brand store offering handsets of all brands, mobile accessories, value-added services, data transfer facilities, an exchange programme and interactive kiosks.
The company has made an initial investment of $5 million and is targeting sales of Rs 45 crore by April 2007. The focus of the retail chain will be Tier II and Tier III towns. “We want to primarily target the smaller towns as these markets are underserved unlike the metros where customers do have the option of some multi-brand stores, albeit unorganised,” Juneja adds.
Leveraging its already-established presence in the retail space, Pantaloon Retail recently launched its telecom outfit Convergem Retail India Ltd, a wholly owned subsidiary of Pantaloon Retail India Ltd.
“Convergem Retail plans to follow a three-pronged strategy. Shop in shop with their Big Bazaar stores, independent brand stores, and kiosks in malls, multiplexes and the metro catering to impulse buying, under three brand names M Bazaar, M Port and Gen M respectively,” says Neeran Chibber, president and CEO, Convergem Retail.
By June, it plans to launch 40 stores across cities such as Gurgaon, Kolkata, Nagpur and Mumbai. Along with mobile phone services, the retail outfit would also cater to landline solutions, IT products and other communication needs of a consumer. Investments of around Rs 100 crore has been earmarked for the venture. Retail bigwigs are not the only ones to cash in on mobile retail. Also showing interest is the Essar Group. When contacted by ET, company sources said that it was planning to launch its new initiative soon. They, however, did not indicate any date.
“We are observing the huge untapped market for organised telecom retail and trying to evaluate our project accordingly. Since the size is huge, it takes time for something like this to take shape,” sources said. The Essar group is said to have earmarked around Rs 1,500 crore for the new multi-branded telecom retail chain initiative over the next five years.
posted by InCar Group Press Room at 23:57
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