The Hindu Business Line : Mobile Store plans expansion

The Mobile Store (TMS), promoted by Essar Telecom Retail Ltd, plans to increase the number of stores to 2,500 over the next three years across 500 cities from the current 270 stores in 25 cities, according to Mr Rajiv Agarwal, Chief Executive Officer and Director, Essar Telecom Retail.

“We want to have presence in all the cities with a population of one lakh. This business has a wafer thin margin and depends on high turnover. We will have 2,500 stores across 500 cities in the next three years to boost turnover,” Mr Agarwal told Business Line on the sidelines of National Marketing Symposium on Changing Face of Marketing in the Creative Economy organised by the Indian Institute of Foreign Trade, Kolkata, in association with the Confederation of Indian Industry. In eastern India, the company plans to have 110 stores in the next six months.

The stores will be owned and managed by Essar Telecom Retail and the company currently has no plans to switch to a franchise route.

However, he did not disclose the quantum of investment required to fund the expansion. TMS currently has a monthly turnover of Rs 65 crore and is growing at 25 per cent per month.

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