myG, the Kerala-based digital retail chain, is targeting to double its turnover to Rs 1000 crore in the current fiscal year. In order to achieve this target, myG will open 25 more outlets in Kerala and expand to other southern Indian states.
The company currently has 75 retail units selling electronic gadgets mainly mobile phones, laptops and tablets in the state.
AK Shaji, Chairman and Managing Director, myG, said, “We will launch our new outlet at Pottammal in Kozhikode. The four-storied showroom 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. Currently, every 1 in 5 mobile phones sold in Kerala is from any of myG outlet. We have over 50 lakh customers now.”
“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. Before 2025, we will expand to all states in the country and GCC countries,” Shaji added.