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Jul, 17 2018

Mobile retail firm Celekt plans to set up 500 stores

With each store costing about Rs 60 lakh to Rs 1 crore, the firm expects investments to the tune of Rs 300-500 crore on the 500 stores.

With offline sale of mobile phones continuing to be high despite exclusive online sales by mobile companies, Celekt, a new mobile retail firm, is planning a pan-India chain by opening 200 stores in the first year. In the subsequent two years, it will set up three hundred more, covering southern, western and northern markets.

With each store costing about Rs 60 lakh to Rs 1 crore, the firm expects investments to the tune of Rs 300-500 crore on the 500 stores. It roped in popular Telugu film actor Junior NTR as brand ambassador to promote the retail chain.

“We have entered into a two-year contract with the actor,” Y Guru, Founder and Chief Executive Officer, has said.

Addressing a press conference here, he said the firm would set up 200 stores in Andhra Pradesh, Telangana and Maharashtra (barring Mumbai) in the next 12 months.

“In the second year, we will cover Madhya Pradesh and Gujarat with 150 stores. We will open 100 in Karnataka and Uttar Pradesh with 100 stores and 50 in Rajasthan in the third year,” he said.

All the stores with 1,000 sq ft and above will have a touch-screen display that lets customers to compare different products on pricing and features.

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