Big C to open 250 new retail outlets in 2 yrs
The mobile handset, electronics retailer ropes in Mahesh Babu as brand ambassador
image for illustrative purpose
Hyderabad: CITY-BASED mobile retail chain Big C said recently that it would open 250 new outlets over next two years with focus on tier 4 and 5 cities. It roped in Tollywood superstar Mahesh Babu as the new brand ambassador.
Big C, which opened its first store in Vijayawada in 2002, currently operates 250 stores across Telangana, Andhra Pradesh and Tamil Nadu. The new stores will take its outlet count to 500. The company will invest Rs 50 lakh on each new store which will generate 8 to 10 jobs.
"At present, we have stores in the cities with population over 70,000 in Telugu States and Tamil Nadu. Our upcoming 250 stores will be in cities with 30,000 population or more.
We will open 10 more new stores in Tamil Nadu besides making a foray into the Karnataka market," Balu Chowdary, Chairman and Managing Director, Big C, told the media here on Friday. On the new brand ambassador, he said Big C signed up nine actresses as brand ambassadors over the years. Mahesh Babu is the 10th brand ambassador for the company and the first male actor, he added.
"Known for his unique style and approach towards his characters in the films, there will be a lot of enthusiasm about the campaigns the brand will create with superstar Mahesh Babu," he said. On the revenue side, the company is looking at crossing Rs 1,000 cr turnover mark in the current financial year, thus reaching pre-Covid levels. In FY23, it will target Rs 1,500 crore in revenues.
Big C will consider tapping capital markets via IPO after reaching Rs 2,000 crore turnover in FY24. The company, which enjoys 30 per cent market share in Telangana and Andhra Pradesh, currently employs 2,000 people and is also into online sales.
