KOLKATA : India’s second-largest smartphone maker Xiaomi<\/a> and Bengaluru-based retailer Sangeetha Mobiles are in talks to acquire the 300-odd stores of Essar Group<\/a>’s cellphone retail venture The Mobile Store<\/a>, which is winding up operations due to working capital challenges in the absence of any fresh infusion from the parent. 加尔各答:印度第二大智能手机制造商小米和Bengaluru-based零售商Sangeetha手机正进行谈判,以收购的300多个商店爱萨集团的手机零售企业移动存储,这是由于营运资金清算业务挑战来自父母没有任何新鲜的注入。
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\nIf talks fructify, Xiaomi would use a local partner to acquire the business and convert the stores into its exclusive ‘Mi Home’ outlets and may eventually take up stake if its application for single-brand retail foreign direct investment (FDI) is approved.
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\nFor Sangeetha, it will provide a national presence and quicken its expansion outside South, four senior industry executives said.
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\nALSO READ: Indian smartphone market grows 23% to overtake US in Q3; Samsung, Xiaomi drive shipments<\/a><\/strong>
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\nBoth the buyers are particularly interested in the locations of The Mobile Store outlets, which are either in leading malls or at prominent highstreet places. The executives said both Xiaomi and Sangeetha Mobiles are hopeful of sealing the deal at a lucrative valuation since it’s a distress sale for Essar, which has already served termination notice to employees and has closed most outlets.
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\n“Essar is exiting the cellphone retailing business after trying out various models, such as delivery of handsets in two hours, and due to its failure to get a strategic investor,” one of the executives said. “If there is no settlement over valuation, Essar would try to offer the retail locations since those are mainly in demand. The potential acquirer will mostly be interested in the locations, not the brand or resources.”
\n![\"\"](\"\/\/www.iser-br.com\/Themes\/Release\/images\/responsive\/ettelecom-default.jpg\")
\nEmails sent to Essar Group and Xiaomi did not elicit any response till Tuesday press time, while Sangeetha Mobiles managing director Subhash Chandra declined to comment.
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Earlier, Spice<\/a> Group and some private equity funds had evaluated a buyout or picking up stake in The Mobile Store, but they couldn’t cut a deal due to differences over valuation and huge losses of the business. As per industry excutives, Essar Group was asking for around Rs 500 crore for the business in January. At present, it would be happy to sell the business even for the security deposit landlords owe it for the outlets’ space.
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\nThe Mobile Store was once the country’s largest cellphone retailer with over 1,000 stores, but it lost out after the entry of Reliance Retail and due to hefty online discounts on smartphones and funds drying up internally.
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\nReliance Retail has evolved as the largest retailer of consumer electronics and mobile phones with over 2,000 stores, followed by Sangeetha Mobiles, which has over 400 stores.
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Xiaomi is rapidly expanding in offline retail by setting up its exclusive ‘Mi Home’ outlets besides also selling through multi-brand stores. The Chinese smartphone maker, with a 22% share in the Indian smartphone market, has closed the gap with market leader Samsung<\/a>, which has a 23% share, as per Counterpoint Research data for the July-September quarter. Offline sales already account for 20% of Xiaomi’s revenue, and it wants to scale up its retail presence to overtake Samsung.<\/p><\/body>","next_sibling":[{"msid":61370384,"title":"Bharti Airtel to consider proposal to sell controlling stake in Bharti Infratel","entity_type":"ARTICLE","link":"\/news\/bharti-airtel-to-consider-proposal-to-sell-controlling-stake-in-bharti-infratel\/61370384","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":61382994,"entity_type":"ARTICLE","title":"Xiaomi eyes outlets of The Mobile Store","synopsis":"If talks fructify, Xiaomi would use a local partner to acquire the business and convert stores into its exclusive \u2018Mi Home\u2019 outlets.","titleseo":"telecomnews\/xiaomi-eyes-outlets-of-the-mobile-store","status":"ACTIVE","authors":[{"author_name":"Writankar Mukherjee","author_link":"\/author\/8447\/writankar-mukherjee","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/8447.cms?width=100&height=100","author_additional":{"thumbsize":true,"msid":8447,"author_name":"Writankar Mukherjee","author_seo_name":"writankar-mukherjee","designation":"Senior Editor","agency":false}},{"author_name":"Sagar Malviya","author_link":"\/author\/479215157\/sagar-malviya","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479215157.cms?width=100&height=100","author_additional":{"thumbsize":true,"msid":479215157,"author_name":"Sagar Malviya","author_seo_name":"sagar-malviya","designation":"Sr Asst Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2017-11-01 08:11:36","lastupd":"2017-11-01 08:21:48","breadcrumbTags":["Xiaomi","The Mobile Store","Samsung","Devices","Spice","Essar Group"],"secinfo":{"seolocation":"telecomnews\/xiaomi-eyes-outlets-of-the-mobile-store"}}" data-authors="[" writankar mukherjee","sagar malviya"]" data-category-name="" data-category_id="" data-date="2017-11-01" data-index="article_1">
如果会谈富有成果,小米将使用一个当地合作伙伴收购业务和商店转换成专属Mi家门店和最终可能占用股份如果申请单一品牌零售外国直接投资(FDI)批准。
Sangeetha,它将提供一个国家存在和加快其扩张外,四个行业高管说。
还读:印度在第三季度超越美国智能手机市场增长23%;三星,小米发货
买家都是特别感兴趣的位置移动存储媒体,在领先的购物中心或在知名highstreet的地方。高管表示,小米和Sangeetha手机都希望这笔交易的利润丰厚的估值,因为这是一个求救出售Essar,已服务终止通知员工,关闭了大部分媒体。
“Essar退出手机零售业务尝试各种模型后,交付的手机等两个小时,而且由于其未能得到一个战略投资者,“高管表示。“如果没有解决在估值,Essar将努力提供零售店,因为这些都是主要的需求。潜在收购者将主要感兴趣的位置,没有品牌或资源。”
邮件发送到Essar集团和小米没有引起任何反应,直到周二新闻时间,而Sangeetha手机总经理Subhash钱德拉拒绝置评。
早些时候,香料集团和一些私人股本基金评估收购或移动存储捡的股份,但是他们不能达成协议由于分歧的估值和业务的巨额亏损。按行业excutives Essar集团要求在业务1月500卢比。目前,它很乐意出售的业务甚至押金房东欠它为网点的空间。
移动商店曾经是中国最大的手机零售商拥有超过1000家门店,但它失去信实零售和入境后由于高额折扣在线智能手机和内部资金枯竭。
信实零售发展最大的消费电子零售商和手机拥有超过2000家门店,其次是Sangeetha手机,有超过400家门店。
小米是迅速扩大在线下零售通过建立专属想念家乡的媒体除了也通过多品牌商店进行销售。中国智能手机制造商在印度智能手机市场22%的份额,已经关闭了与市场领头羊的差距三星23%的份额,为7 - 9月一季按对位法的研究数据。线下销售小米已经占据了20%的收入,它希望扩大其零售业务超过三星。
KOLKATA : India’s second-largest smartphone maker Xiaomi<\/a> and Bengaluru-based retailer Sangeetha Mobiles are in talks to acquire the 300-odd stores of Essar Group<\/a>’s cellphone retail venture The Mobile Store<\/a>, which is winding up operations due to working capital challenges in the absence of any fresh infusion from the parent.
\n
\nIf talks fructify, Xiaomi would use a local partner to acquire the business and convert the stores into its exclusive ‘Mi Home’ outlets and may eventually take up stake if its application for single-brand retail foreign direct investment (FDI) is approved.
\n
\nFor Sangeetha, it will provide a national presence and quicken its expansion outside South, four senior industry executives said.
\n
\nALSO READ: Indian smartphone market grows 23% to overtake US in Q3; Samsung, Xiaomi drive shipments<\/a><\/strong>
\n
\nBoth the buyers are particularly interested in the locations of The Mobile Store outlets, which are either in leading malls or at prominent highstreet places. The executives said both Xiaomi and Sangeetha Mobiles are hopeful of sealing the deal at a lucrative valuation since it’s a distress sale for Essar, which has already served termination notice to employees and has closed most outlets.
\n
\n“Essar is exiting the cellphone retailing business after trying out various models, such as delivery of handsets in two hours, and due to its failure to get a strategic investor,” one of the executives said. “If there is no settlement over valuation, Essar would try to offer the retail locations since those are mainly in demand. The potential acquirer will mostly be interested in the locations, not the brand or resources.”
\n
\nEmails sent to Essar Group and Xiaomi did not elicit any response till Tuesday press time, while Sangeetha Mobiles managing director Subhash Chandra declined to comment.
\n
Earlier, Spice<\/a> Group and some private equity funds had evaluated a buyout or picking up stake in The Mobile Store, but they couldn’t cut a deal due to differences over valuation and huge losses of the business. As per industry excutives, Essar Group was asking for around Rs 500 crore for the business in January. At present, it would be happy to sell the business even for the security deposit landlords owe it for the outlets’ space.
\n
\nThe Mobile Store was once the country’s largest cellphone retailer with over 1,000 stores, but it lost out after the entry of Reliance Retail and due to hefty online discounts on smartphones and funds drying up internally.
\n
\nReliance Retail has evolved as the largest retailer of consumer electronics and mobile phones with over 2,000 stores, followed by Sangeetha Mobiles, which has over 400 stores.
\n
Xiaomi is rapidly expanding in offline retail by setting up its exclusive ‘Mi Home’ outlets besides also selling through multi-brand stores. The Chinese smartphone maker, with a 22% share in the Indian smartphone market, has closed the gap with market leader Samsung<\/a>, which has a 23% share, as per Counterpoint Research data for the July-September quarter. Offline sales already account for 20% of Xiaomi’s revenue, and it wants to scale up its retail presence to overtake Samsung.<\/p><\/body>","next_sibling":[{"msid":61370384,"title":"Bharti Airtel to consider proposal to sell controlling stake in Bharti Infratel","entity_type":"ARTICLE","link":"\/news\/bharti-airtel-to-consider-proposal-to-sell-controlling-stake-in-bharti-infratel\/61370384","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":61382994,"entity_type":"ARTICLE","title":"Xiaomi eyes outlets of The Mobile Store","synopsis":"If talks fructify, Xiaomi would use a local partner to acquire the business and convert stores into its exclusive \u2018Mi Home\u2019 outlets.","titleseo":"telecomnews\/xiaomi-eyes-outlets-of-the-mobile-store","status":"ACTIVE","authors":[{"author_name":"Writankar Mukherjee","author_link":"\/author\/8447\/writankar-mukherjee","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/8447.cms?width=100&height=100","author_additional":{"thumbsize":true,"msid":8447,"author_name":"Writankar Mukherjee","author_seo_name":"writankar-mukherjee","designation":"Senior Editor","agency":false}},{"author_name":"Sagar Malviya","author_link":"\/author\/479215157\/sagar-malviya","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479215157.cms?width=100&height=100","author_additional":{"thumbsize":true,"msid":479215157,"author_name":"Sagar Malviya","author_seo_name":"sagar-malviya","designation":"Sr Asst Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2017-11-01 08:11:36","lastupd":"2017-11-01 08:21:48","breadcrumbTags":["Xiaomi","The Mobile Store","Samsung","Devices","Spice","Essar Group"],"secinfo":{"seolocation":"telecomnews\/xiaomi-eyes-outlets-of-the-mobile-store"}}" data-news_link="//www.iser-br.com/news/xiaomi-eyes-outlets-of-the-mobile-store/61382994">
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