Nexstgo aims to set up 50 stores, invest Rs 10 cr for India expansionPTI | New Delhi | Updated: 14-07-2019 14:42 IST | Created: 14-07-2019 14:39 IST
Hong Kong-based Nexstgo is setting up 50 exclusive brand stores across the top 10 Indian cities as it eyes sales of one lakh laptops this year. Nexstgo -- which ventured into the country last year and offers AVITA and Nexstgo brands -- currently sells its devices online and through retail stores in Delhi, Chennai, Ambala and Jaipur.
"We have seen a tremendous response so far and by end of the year, we are confident of crossing the one-lakh device mark. We are also in the process of expanding our retail presence, we are looking at 50 exclusive brand stores," Nexstgo Company CEO and co-founder Alex Chung said. This is expected to entail an investment of about Rs 10 crore, he added. "We are looking at adding two new products to our portfolio by Diwali this year across the country... We aim to have an omni-channel presence to maximise our visibility with an equal focus on offline and online sales," he said.
The company, which also has Internet of Things (IoT)-based devices in its portfolio, is also planning to foray into the Middle East and Europe by the end of this year. The company has a presence in 11 countries, including China, Malaysia, Indonesia, Thailand, Philippines, Taiwan and Singapore.