The Ahmedabad-headquartered multi-brand retailer presently has 181 stores in Gujarat
Bengaluru: Gujarat-based mobile and consumer durables retailer Fonebox Retail Ltd. has forayed into the state of Maharashtra with plans to open over 25 retail stores, the company announced on Friday.
The Ahmedabad-headquartered company presently has 181 stores in Gujarat.
“We have charted our ambition to become a pan-India player in the coming years and Maharashtra is the next destination for our company,” said Manishbhai G Patel, director, Fonebox Retail.
“Given our multi-brand business model and exhaustive distribution capability, we are poised to expand our presence in Western India and therefore lay a robust foundation for future growth,” he added.
Founded in 2021, the retailer operates its multi-brand outlets under three brand names: Fonebox, Fonebook and My Mobile. These stores are further divided into company owned and company operated (COCO model), and franchise owned and company operated (FOCO model).
Its stores offer a wide range of smartphones, accessories, laptops, televisions, and other consumer durables from various brands.
The company was listed on NSE Emerge in February 2024 and raised Rs 20.37 crore – of which, it intended to spend Rs 13.50 crore towards expanding its retail network.
