Big C targets Rs 1,500 cr turnover this fiscal
Hyderabad : Leading mobile retail chain Big C has set a target of 40 per cent growth during the current financial year to cross a Rs 1,500 crore turnover.
Big C's Founder, Chairman and Managing Director M. Balu Chowdary on Thursday said they had also prepared plans for rapid expansion.
With over 225 stores in Telangana and Andhra Pradesh, Big C is gearing up to foray into the Tamil Nadu market next month with the launch of 20 stores. It also has plans to set up stores in other southern states.
Balu was talking to reporters on the sidelines of an event where the company launched its new brand identity.
During 2017-18, the company had achieved a turnover of Rs 1,015 crore.
He said in the next six months they would be adding 38 stores in Hyderabad, which already accounts for 63 out of the 110 stores in Telangana. Each store will require Rs 30 lakh to Rs 40 lakh investment.
Launched with the first store in Vijayawada in 2002, Big C currently employs 2,500 people and has catered to 5 crore customers during the last 16 years. It sells mobile phones of all leading brands.
Balu said their offline model was still relevant as there was hardly any difference between the online and offline price due to recent guidelines by the government for e-commerce.
"Majority of the customers prefer buying mobiles offline and at Big C they can touch and feel the product before purchasing it," he said.
Big C has a presence in 82 places in both the Telugu states, covering all towns with a population of over 50,000.
He announced that they have signed leading actress Samantha as the new brand ambassador.