Celkon Group buys Touch Mobiles

Hyderabad Mobile brand and electronics solution provider Celkon Group on Thursday announced the acquisition of Touch Mobiles, a mobile retail chain in Andhra Pradesh and Telangana. The deal is in line with Celkon Group’s expansion strategy to position itself as a key player in the mobile retailing market.

Touch Mobiles with over 40 stores across both the States is home to smartphones, tablets, smart TVs, laptops, and mobile accessories from brands such as Apple, Samsung, OnePlus, Oppo, among others.

“With ambitious expansion plans in store, weaim to establish up to 50 company-owned stores along with an additional 200 franchise stores in South India and Maharashtra. This expansion strategy willtake Touch Mobiles’ products and services to new areas,” Y Guru, Chairman & Managing Director, Celkon Group,told the media on Thursday. CelkonGroup which clocked a turnover of Rs 2,600 crore in the last financial year, is aiming at Rs 5,000 crore business in FY24.

“Touch Mobiles has also set ambitious revenue goals, aiming to reach Rs 200 crore in turnover by the end of this financial year. By capitalizing on strong brand presence and expanding reach, we aim to achieve remarkable growth,” the CMD said.

He further said that with a plan to upskill 10th class students, intermediate and ITI professionals,Touch Mobiles willbe setting up a training institute.“Our approach includes hiring trainees on a revenue-based model, where they will receive training in mobile technology and subsequently be hired as service partners at Touch Mobile stores on a revenue sharing model. We aim at training 500 to 1,000 students each year,”the CMD said.The company will also be opening exclusive women-driven stores promoting inclusivity and gender equality.