Mobile retail chain Big-C eyes Rs 1,500 cr turnover in FY24, to invest Rs 300 cr

Hyderabad-based multi-brand handset retail chain Big-C mobiles Monday said it clocked a turnover of Rs 1,000 crore in FY23, and is now eyeing a turnover of Rs 1,500 crore in FY24.

The retail chain will also open 150 new outlets in two years to take the total count to 400, with an investment of Rs 300 crore, said M. Balu Chowdary, Founder, Chairman and Managing Director, Big-C in a prepared media statement. “We will enter more markets. We have a strong 3 crore customer base,” Chowdary said.

The senior executive claimed that Big-C has achieved “market leadership” in mobile retailing in Telangana and Andhra Pradesh. “We will maintain the top position in the third decade as well. We will increase our headcount to 4,000 in two years from the current 2,500,” he added.

He further said that Big-C, in collaboration with mobile manufacturers, is offering the latest mobiles to customers. He claimed that 5G mobiles will create “sales records in the coming days”.

“There has been consolidation in mobile retailing after the Covid-19 pandemic, and the share of offline sales increased to 65 per cent…sales of TVs have also picked up at Big-C outlets,” he said.