Latest News | B New Mobiles Plans 100 More Stores, Eyes Rs 1,000 Crore Turnover

Hyderabad, July 5 (PTI):B New Mobiles, a multi-brand mobile handset retailer, is planning to open 100 new stores by December 2022, a top company official said on Monday.

The company opened two new outlets in Visakhapatnam today thereby taking the total number of stores under its operation to 101. B New Mobiles would open 100 more stores in Andhra Pradesh and Telangana by December 2022.

Of the new stores planned, 25 would come up in Hyderabad.

The company plans to invest Rs 50 crore in the expansion, B New Mobiles'Chairman and Managing Director Y D Balaji Chowdary said in a release here. B New Mobiles, which started operations with its first store in Vijayawada in September 2014, currently has 82 stores in Andhra Pradesh and 19 in Telangana, the release said. On the revenue from B New Mobiles, which has a team of over 700 people across the two States, Chowdary said the company clocked a turnover of Rs 700 crore during the financial year 2020-21. It is aiming at Rs 1,000 crore turnover in the 2021-22, said Y Sai Nikhilesh, executive director, B New Mobiles. PTI

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