Pantaloon gets into telecom retailing

Category: General | No Comments | Posted on April 25, 2006

Telecom retailing is attracting the biggies. Soon after Bangalore-based MobileNXT launched its first store in Gurgaon, players like Pantaloon Retail and Essar Group are also reported to be in the fray.

Leveraging its already-established presence in the retail space, Pantaloon Retail recently launched its telecom outfit Convergem Retail India Ltd, a wholly owned subsidiary of Pantaloon Retail India Ltd.

It plans to launch 40 stores by June. Along with mobile phone services, the retail outfit would also cater to landline solutions, IT products and other communication needs of a consumer. Investments of around Rs 100 crore has been earmarked for the venture.

“Convergem Retail plans to follow a three-pronged strategy. Shop in shop with their Big Bazaar stores, independent brand stores, and kiosks in malls, multiplexes and the metro catering to impulse buying, under three brand names M Bazaar, M Port and Gen M respectively,

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