Plans to set up 80 Axiom stores in six months
MUMBAI: Future Group, through ConvergeM, its 50:50 joint venture with UAE’s Axiom Telecom, is planning to roll out a new mobile retail chain for high-end customers under the brand name Axiom.
ConvergeM operates 140 stores under mBazaar, GenM and mPort formats.
In six months, it plans to set up 500 stores, including 80 under the Axiom brand. While it will set up some new stores under the brand, all GenM and mPort stores will also be converted to Axiom.
The new chain will target consumers in the high-end segment and the mid-market segment will be tapped through its mBazaar format.
Kumar Jaisingh, group business development manager, Axiom Telecom said, “We intend to become the largest value format in the mobile retail business with two different brands catering to mid-to up-market segments.”
Axiom will be larger format, experience-based outlets.
Apart from major metros, mBazaar and Axiom stores will also be set up in Tier I cities such as Ahmedabad, Pune and Trivandrum under different formats like shop-in shop and standalones.
Dubai-based Axiom Telecom, the largest telecom retailer in Middle East, formed a 50:50 joint venture with Kishore Biyani’s Pantaloon Retail (India) Ltd a year ago.
In a scenario where most of the retailers are offering the lowest price possible for the handsets, value-added offers now seems to be the only option to gain an edge.
ConvergeM, for example, has tied up with Emirates Airlines and Skywards to offer frequent flyer programmes for handset buyers.
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