Happi Mobiles eyes a turnover of ₹500 crore

By | April 20, 2019

Image result for Happi Mobiles eyes a turnover of ₹500 croreAll the stores will come up in Telangana and Andhra Pradesh

Happi Mobiles, a mobile phone retail company, is planning to expand the chain to 150-200 stores by the year-end from its present strength of 50.

It is also looking to hire 900 more employees, to take its headcount to 1,500.

The number of employees representing various mobile brands at the stores will also go up to 500 from 200 .

All the stores will come up in Telangana and Andhra Pradesh.

Initially, the company plans to set up 50 stores each in the two States.

“After consolidating our position in the in the two States, we will expand to others where there is scope for organised players,” said K Krishna Pavan, Managing Director of Hello Mobiles Private Ltd, the promoter of Happi Mobiles.

The firm, which registered a turnover of 250 crore during 2018-19 — the first year of its operations — is looking to double it this fiscal on increased store network.

“We invested 25 crore, with each store demanding an investment of 40-50 lakh. We have achieved operational profit. We hope to break even in 2021,” he said.

Diversifying the product offerings, the firm is also going to sell products like LED TVs at some of the stores.

[“source=thehindubusinessline”]