Big C charts Rs 25 cr expansion
Citybased Big C, a mobile handset retail chain that operates 225 stores across Andhra Pradesh and Telangana, has charted an expansion plan with Rs 25...
Hyderabad: City-based Big C, a mobile handset retail chain that operates 225 stores across Andhra Pradesh and Telangana, has charted an expansion plan with Rs 25 crore, under which it will set up 38 new stores in the city over next six months. The expansion will also see the retail chain foraying into Tamil Nadu market.
“We will enter the Tami Nadu market in a month with 20 new outlets. For that, we will invest Rs 10 crore. Besides, we have drawn up plans to establish 38 new outlets in Hyderabad where we currently operate 63 stores,” M Balu Chowdary, Founder & CMD, Big C, told the media here. The company plans to open 100 stores in Tamil Nadu over next one year. It has 115 stores in AP, 110 in Telangana.
The retail chain, which began its operations with a single store in Vijayawada way back in 2002, on Thursday launched a new brand identity which, the company believes, will propel it into next orbit of growth. On sales revenues, Chowdary said the company closed last financial year with Rs 1,015 crore with 40 per cent growth year-on-year. “With foray into Tamil Nadu market, we are aiming at 50 per cent growth in current fiscal year to about Rs 1,500 crore,” he said, adding that over 1,500 people work for the company.
Samsung is the top client for the retail chain, accounting for 35-45 per cent of its sales, followed by Xiaomi (20 per cent) and Vivo (18 per cent). “But this percentage changes from time to time as sales are linked to the new models launched by a brand,” he said. The mobile handset segment is consolidating fast with top six brands accounting for 88 per cent of the market, he added.
He ruled out setting up any manufacturing facility for smartphones as it would be difficult to compete with established global players.