Fonebox Retail Unveils 10 New Stores, Making Waves in Gujarat and Maharashtra

Fonebox Retail Ltd, a leading multi-brand mobile and consumer durables retailer, has announced plans to open 10 new stores across the states of Gujarat and Maharashtra. This strategic expansion is aligned with their ambition to strengthen market presence and pave the way for pan-India growth in the fast-evolving retail landscape.

 

Store Expansion Plan:

Fonebox Retail aims to open 10 new retail outlets in Gujarat and Maharashtra by the end of the current quarter.

 

The new stores will operate under its established brand names including Fonebox, Fonebook, and My Mobile.

 

Company Growth Strategy:

The addition of these stores is part of Fonebox’s broader strategy to increase its footprint in western India and lay a robust foundation for future growth across the country.

 

Currently, the company operates over 181 stores in Gujarat and is making a strategic foray into Maharashtra, a key retail market.

 

Product Range and Market Reach:

Fonebox stores offer a wide range of products including smartphones, accessories, laptops, televisions, air conditioners, and other consumer durables from multiple renowned brands.

 

The retail business operates on both Company Owned and Company Operated (COCO) and Franchise Owned and Company Operated (FOCO) models, allowing scalable and efficient expansion.

 

Financials and Funding:

The firm successfully raised Rs 20.37 crore via NSE Emerge in February 2024, with approximately Rs 13.50 crore earmarked for retail expansion and infrastructure development.

 

Outlook:

With rapid store growth and a strong multi-brand portfolio, Fonebox Retail is well-positioned to capitalize on the growing demand for mobile and consumer electronics in western India and beyond.

 

Sources: NSE India Corporate Announcement, Indian Retailer News, Equity Bulls and Company Reports 2025