The Rs10,000-crore Essar Group is getting into retail. It will launch stores to sell mobile phones by December or February. The buzz is that Richard Branson's Virgin Group will chip in with technical support and store design, reports CNBC-TV18.
Mobile Shop, the likely name for Essar Group's telecom retailing venture, is set to offer you mobile phones and accessories. Sources say the group will launch 300 to 600 square foot stores in the next two or four months.
It will start out with the top 10 cities and it hopes to have 2,500 stores up by 2008. Over the next five years Essar will invest about Rs1,500 crore in the venture.
Sources say that Essar is tying up with Richard Branson's Virgin Group for technical support and store design. In markets like the US and Britain, Virgin runs a chain of stores called Virgin Megastores.