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/
