Happi Mobiles, a multi brand mobile retail chain, plans to open 150-200 new stores in the both Telugu states of Telangana and Andhra Pradesh during the current financial year and is also planning to expand its footprint to western parts of the country after Pongal to grab between 8-10 per cent market share.
Each store cost will be around Rs 40 to 50 lakhs and currently, the company have 50 stores in both the Telugu states and clocked rs 250 crore turnover in the first year of operations, said Krishna Pavan, Chairman and Managing Director, Happi Mobiles in a press conference here on Thursday on occasion of one year celebrations.
This year, the company set a target of Rs 500 crore turnover against Rs 250 crore clocked during the previous fiscal, he said after January 2020, the company plans to open stores in Maharashtra.
The total market size is estimated to be about Rs 8,000 crore, of which Rs 7,000 crore is offline market, he said that we also planning to sale LED TVs, vaccum cleaners, CCTV camers and other lifestyle products at all the existing stores on pilot basis from May this year.
Telugu actor Ram Charan was our company’s brand ambassador, he said that we also offering sales on online soon.
Currently, we have 600 employees, who sells mobile phones of 12-13 top brands at our stores, he said with this expansion of stores, would create about 1000 jobs directly and 500 more indirectly.
On the occasion one year celebration, we are offering 40 per cent savings on Paytm, price drop protection, one time screen replacement, two year warranty, exchange offers, EMI options and branded gifts and the offer would continue up to April 29.
Company Executive Director K Santosh, said they created record of sorts by opening 22 stores in Hyderabad in a single day on June 8, 2018.
With 50 stores, 25 stores in Hyderabad alone, the retail chain has 5 lakh customers and it is selling a mobile phone every minute, he claimed. (UNI)
Happi Mobiles to open 150-200 stores this fiscal in AP, Telangana; eyes at Rs 500 cr turnover
