Hindustan Saga
Business

Fonebox Retail Limited to foray into Maharashtra; plans to launch 25 stores in FY2025

Ahmedabad (Gujarat) [India], July 12, 2024: Fonebox Retail Limited (The Company), a popular mobile and consumer durables retailer in Gujarat, has announced its foray into the state of Maharashtra – with plans to open approx 25 retail stores. The Ahmedabad-headquartered company presently has 181 stores in Gujarat under the brand names – “FONEBOX”, “FONEBOOK” and “MY MOBILE”. The company was listed on NSE Emerge in February 2024 and raised 20.37 crore – of which, it intended to spend Rs. 13.50 crore towards expanding its retail network.

Commenting on the initiative, Mr. Manishbhai G. Patel, Promoter & Director, Fonebox Retail Limited, said, “We have charted our ambition to become a pan-India player in the coming years and Maharashtra is the next destination for our company. Given our multi-brand business model and exhaustive distribution capability, we are poised to expand our presence in western India and therefore lay a robust foundation for future growth.”

The company operates its multi-brand outlets under three brand names: Fonebox, Fonebook and My Mobile, across Gujarat. These stores are further divided into Company Owned and Company Operated (COCO model), and Franchise Owed and Company Operated (FOCO model).

Fonebox Retail is promoted by a group of dynamic and experienced entrepreneurs – Manishbhai Girishbhai Patel, Jigar Lallubhai Desai, Parth Lallubhai Desai, Jigneshkumar Dashrathlal Parekh and Amitkumar Gopalbhai Patel. The retailer commenced its operations in February 2021 under the brand ‘Fonebox’, and acquired two retail store brands ‘Fonebook’ and ‘My Mobile’ later that year.

For more information, please visit: https://www.fonebook.in/

Related posts

Surya Wood Stove: The Vision of ‘Stove Man’ Vijaysing Yuvraj Patil Transformed into a Trusted Brand

Hindustan Saga

Bias Busters: How Two IIT Kharagpur Minds Are Cleaning Up AI

Hindustan Saga

LANXESS inaugurates India Application Development Center

Hindustan Saga

Indian Deep-Tech Firm BUSINESSNEXT Ranked #1 for its current offerings in 2025 Forrester Wave™ for financial services CRM, beating global giants

Hindustan Saga

India’s Largest Dental Chain, Clove Dental Organizes its 38th Leadership Conclave on its 14th Anniversary

Hindustan Saga

Luxury Made Affordable: Yashvi Diamond Jewellery Recognized for Excellence

Hindustan Saga

Leave a Comment