Essar ends tie-up with Virgin for the Mobile Store

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Essar Group has ended its alliance with British billionaire Richard Branson's Virgin group for its retail format, "The Mobile Store". The company had tied up with Virgin Group for mobile retaling in 2007. The arrangement was due for renewal on 30th April this year. "We have had a happy partnership. But we have mutually decided to not renew the agreement," said Alok Gupta, CEO, Essar Retail. Essar Retail paid Virgin a fixed fee for the usage of its brand and consultation services.

Essar had tied up with Virgin to use the latter's expertise in mobile retailing. Virgin runs over 5,000 stores in UK and Essar believed that the Telco's expertise would help them make forays into the competitive mobile retail market. But sources say that the partnership had run its course and Virgin as a partner was not adding significant value to the retail format.

However, the company is aggressive about its expansion plans. Essar had invested over Rs.1,200 crore to set up its mobile retailing arm and currently has over 1,000 outlets. It plans to open another 200 outlets across India and will use the franchisee model for the first time this year.

The Mobile Store also plans to enhance its customer experience by using the digital medium significantly and has also introduced the home delivery model for its customers.

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