Hyderabad, July 13, 2023: Celkon Group, a leading player in the mobile and electronics industry, is thrilled to announce its successful acquisition of Touch Mobiles, a well-established mobile retail chain in Andhra Pradesh and Telangana.
Celkon group CMD Y.Guru said this acquisition marks a significant milestone in Celkon Group's expansion strategy, solidifying its position as a key player in the mobile market.
Touch Mobiles has gained a reputation as the go-to destination for tech enthusiasts, offering a wide range of smartphones, tablets, smart TVs, laptops, and mobile accessories. Boasting over 40 stores, Touch Mobiles provides customers with top-notch products from renowned brands like Apple, Samsung, OnePlus, Oppo, Vivo, Xiaomi, Realme, Motorola, boAt, Noise, Conekt, and many more. With a commitment to providing the very best in mobile technology, Touch Mobiles has become a trusted name for customers seeking cutting-edge devices.
Celkon Group, established in 2009, is a prominent mobile brand and electronics solution provider with a worldwide customer base. With a group turnover of Rs.2,600 crores in the last financial year and a target of generating RS.5,000 crores in the current financial year.
Expansion Plans and Revenue Forecast :
As part of the acquisition, Touch Mobiles has ambitious expansion plans in store. The company aims to establish up to 50 company-owned stores along with an additional 200 franchise stores in South India and Maharashtra. This deliberate expansion strategy aims to bring Touch Mobiles' exceptional products and services to new areas, with a particular focus on providing opportunities to young entrepreneurs.
Touch Mobiles recognizes the potential in both cities and small towns and is actively seeking franchise opportunities in all areas. By embracing franchise partnerships with enthusiastic young entrepreneurs, Touch Mobiles aims to establish its presence in small towns as well, enabling customers from various regions to benefit from their diverse range of mobile products.
Touch Mobiles has also set ambitious revenue goals, with a forecast of reaching 200 crores by the end of this financial year. By capitalizing on their strong brand presence and expanding their reach, Touch Mobiles aims to achieve remarkable growth and establish itself as a dominant force in the mobile retail industry.