Friday, Dec 3 2021 | Time 02:59 Hrs(IST)
image
Business Economy


Big C targets Rs 2,000 cr turnover by 2023-24, plans to set up 250 more stores

Hyderabad, Sep 24 (UNI) Big C, a leading mobile retail chain, has set a target of achieving Rs 2,000 crore turnover by 2023-24 and plans to set up to 250 more stores in next two years with an investment of over Rs 100 crore.
With over 250 stores in Telangana, Andhra Pradesh and Tamil Nadu catering to the needs of the loyal customer base of over three crores, we are planning to foray into the Karnataka market next year, Big C's Founder, Chairman and Managing Director M. Balu Chowdary told reporters here on Friday.
The company will achieve Rs 1,500 crore turnover in the fiscal, he said out of 250 stores planned for next 2-years, 100 stores will be in next year focusing on Tier 4 and Tier 5 locations and all the stores are owned by the company.
Currently, we have 105 stores alone in Telangana and each store will require Rs 50 lakh investment, he said.
Launched its first store in Vijayawada in 2002 , Big C currently has a strength of over 2000 and it will be more than doubled by next two years, he informed.
Mr Chowdary said the company sells mobile phones of all leading brands and now has smart televisions, laptops, smart watches and accessories.
The Big C Founder said their offline model was still relevant as there was hardly any difference between the online and offline price.
Big C has a presence in all towns with a population of over 30,000, he informed..
Big C has now signed up Super Star Mahesh Babu as its brand ambassador and for the first time in the brand’s 19 year history, we have a superstar as a brand ambassador, he added.
UNI KNR CS 1806
More News
RBI files resolution plea against Reliance Capital in bankruptcy court NCLT

RBI files resolution plea against Reliance Capital in bankruptcy court NCLT

02 Dec 2021 | 10:53 PM

New Delhi, Dec 2 (UNI) Reserve Bank of India (RBI) on Thursday filed application for initiation of Corporate Insolvency Resolution Process (CIRP) against Reliance Capital Ltd under bankruptcy law at the Mumbai bench of National Company Law Tribunal (NCLT).

see more..

Canara Bank raises Rs 1,500 crore in Basel III-compliant AT1 bonds series

02 Dec 2021 | 10:40 PM

Kochi, Dec 2 (UNI) Canara Bank has raised Rs 1,500 crore in Basel III-Compliant Additional Tier 1 (AT1) bonds Series II, at a coupon rate of 8.05% per annum.

see more..

Steel sector seeks Govt support on logistics, R&D spend to meet 300 MT output by 2030

02 Dec 2021 | 10:39 PM

New Delhi, Dec 2 (UNI) India’s steel industry has called for Government support in terms of policy formulation and implementation, increased investments in domestic research, development (R&D) and rapid execution to build essential logistics infrastructure to leverage upcoming export opportunities and achieving the target of 300 MT steel production by 2030.

see more..

ONGC inks MoU with SECI to develop renewable, ESG projects

02 Dec 2021 | 9:39 PM

New Delhi, Dec 2 (UNI) To realise its green energy objectives, Oil and Natural Gas Corporation Ltd (ONGC) and the Solar Energy Corporation of India(SECI) on Thursday struck a collaboration deal for undertaking renewable energy projects including solar, wind, solar parks, electric vehicles value chain, green hydrogen, and storage.

see more..
Honda sets up battery sharing service subsidiary in India

Honda sets up battery sharing service subsidiary in India

02 Dec 2021 | 7:20 PM

New Delhi, Dec 2 (UNI) Honda Power Pack Energy India, a new subsidiary of Honda Motors, Japan has been established in India to offer battery sharing service for small mobility which will accelerate the penetration of electric vehicles.

see more..
image