New Delhi, Mar 14 (UNI) With a view to tap the 200-billion-dollar organised multi-brand technology retail market, Hot Spot, a part of Rs 1,000 crore Spice Group will open 1,500 outlets at an outlay of Rs 500 crore by the end of 2008.
''We are opening 30-40 retail outlets every month, and expect to reach 1,500 stores in 200 cities across every part of the country by December 2008,'' Hot Spot Vice-Chairman Dilip Modi told reporters here today.
Hot Spot is an IT and telecom retailer with a product portfolio of mobile handsets, accessories, airtime connection, recharge vouchers, gaming devices and direct to home (DTH) television services.
''Once these 1,500 stores are fully operational, we expect a revenue of about Rs 9,000 crore over the next three years,'' Mr Modi said.
Currently, the company has a wide presence in Delhi with 50 stores which is expected to be doubled to 100 outlets by the next two years, he added.
Mr Modi said, the company is looking at Punjab, Karnataka -- where it has a strong presence -- and Mumbai initially, and then move towards other cities. Hot Spot aims to reach 400 outlets by the year-end, he said.
Hot Spot, presently, has a revenue of Rs 200 crore, which will touch Rs 800 crore mark in fiscal 2007-08.
Presently, the company has a strength of more than 300 people.
''This figure will also be increased tremendously, as a store requires atleast 4-5 people,'' Mr Modi said.
UNI
''We are opening 30-40 retail outlets every month, and expect to reach 1,500 stores in 200 cities across every part of the country by December 2008,'' Hot Spot Vice-Chairman Dilip Modi told reporters here today.
Hot Spot is an IT and telecom retailer with a product portfolio of mobile handsets, accessories, airtime connection, recharge vouchers, gaming devices and direct to home (DTH) television services.
''Once these 1,500 stores are fully operational, we expect a revenue of about Rs 9,000 crore over the next three years,'' Mr Modi said.
Currently, the company has a wide presence in Delhi with 50 stores which is expected to be doubled to 100 outlets by the next two years, he added.
Mr Modi said, the company is looking at Punjab, Karnataka -- where it has a strong presence -- and Mumbai initially, and then move towards other cities. Hot Spot aims to reach 400 outlets by the year-end, he said.
Hot Spot, presently, has a revenue of Rs 200 crore, which will touch Rs 800 crore mark in fiscal 2007-08.
Presently, the company has a strength of more than 300 people.
''This figure will also be increased tremendously, as a store requires atleast 4-5 people,'' Mr Modi said.
UNI
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