B New Mobiles plans 100 new stores, eyes Rs 1,000-cr turnover
B New Mobiles, a multi-brand mobile handset retailer, has achieved a rare milestone when its store count crossed 100 mark. The company opened two new stores in Vizag on Monday, taking the total number of stores under its operation to 101.
image for illustrative purpose
Hyderabad: B New Mobiles, a multi-brand mobile handset retailer, has achieved a rare milestone when its store count crossed 100 mark. The company opened two new stores in Vizag on Monday, taking the total number of stores under its operation to 101.
Speaking at the opening of two new outlets, YD Balaji Chowdary, Chairman and Managing Director, B New Mobiles, said that the company would open 100 more new stores in Andhra Pradesh and Telangana by December 2022. Of the new stores planned, 25 will come up in Hyderabad. The company plans to invest Rs 50 crore on the expansion.
B New which started its operations with its first store in Vijayawada in September 2014 currently has 82 stores in AP and 19 in Telangana. It has served over 50 lakh customers so far.
Chowdary said the company's customer-centric approach is yielding good results. "We give customers top priority. All our stores are equipped with live demo counters, which help the customers touch and feel the products they are buying.
Our prices are lower than those available online and we have latest gadgets and devices on sale.
On the revenue front, B New Mobiles, which has a strong team of over 700 people across two States, clocked a turnover of Rs 700 crore during financial year 2020-21. "We are aiming at Rs 1,000 crore turnover in the current financial year," said Y Sai Nikhilesh, Executive Director, B New Mobiles.
