KOCHI:
The Kerala-based digital retail chain myG will open the largest showroom at Kozhikode on Saturday.
The firm with 75 retail units selling electronic gadgets mainly mobile phones, laptops and tablets in Kerala plans to add another 25 stores and expand to other southern Indian states. The company has selected Malayalam actor Mohanlal as the brand ambassador who will inaugurate its showroom in Kozhikode.
myG chairman and managing director A K Shaji said that myG is aiming at doubling its turnover to Rs 1000 crore in the current fiscal year. This will be first retail chain from Kerala other than jewellery and textiles to venture outside the state. A foray into the Gulf countries is also on the radar.
The four-storied showroom at Kozhikode with a space of 12,000 sq ft is the largest one in India. Our short-term target is to start 100 outlets in Kerala. We have over 50 lakh customers now,” said A K Shaji.
The company will also start an institute where technicians to repair and maintain mobile phones will be trained. The institute will be based in Kozhikode. “Currently, we are placed among the 10th best retail chain in India. Our target is to make a place among the top three retail chains in India ” Shaji said.
Kerala has one of the highest smartphone penetration rates in the country with 65 out of every 100 buyers preferring a smartphone. “Of the total sales of 2 lakh units sold in a month in the state, myG’s share is 40,000,’’ he said.
Among his future plans are a foray into manufacturing mobile phones and other gadgets under myG brand. Shaji said he has already begun work on this with a research and development team having experience of working in leading multinational brands.
