MobileNXT to open 9 outlets

Bangalore-based MobileNXT Teleservices Pvt Ltd, India's first mobile retail chain, plans to open nine outlets in the north of the 31 stores to be opened in the country by the end of this year. The company will invest $5 million in the retail outlets over 15-18 months.

Speaking to Business Standard, Romy Juneja, founder and head of operations of the firm, said in the second quarter of this year retail stores would be launched in Chandigarh, Ludhiana, Amritsar, Jalandhar, Faridabad, Ambala, Panipat and Shimla this year.

"The focus of the company will be in Kanataka, Punjab and Haryana to start with.Penetration, population , connection, potential and educational level are the deciding factors for us to focus in the region," Juneja said.

Currently MobileNXT has launched their first store in Gurgaon and plan to open in Kolkata, Mangalore, Ahmedabad by the June 2006. The stores would be predominant in the tier II and tier III cities where there was a need to create an organised retail format , whereas the company's presence in metros will be through shop-in-shop formats and malls, Juneja said.

The company is going in for a partnership with Tata Hypermart, where initially it will be present in metros to be followed by rural marts.

"200-400 sq feet is the minimum carpet area we will be looking at with investment varying from Rs 1,500-Rs 2,000 per sq feet," he added.

The products would be categorized not by brands but by the value they add for the customer from style, music, work, games to value.

In the first year of operation the company targets annual turnover of Rs 47 crore and expects to achieve turnover of Rs 370 crore with the opening of 170 stores.