NEW DELHI – Yaantra, a firm which provides repair services of smartphones revealed its futuristic step to expand its operations to over 800 cities and towns in the country in the next three years. With this step, Yaantra will be able to engage 40,000 retailers with it in a process to expand itself. Also, Yaantra said that it will set up a company-owned and franchisee-run repair centers in around 250 towns and cities during the same time period.
Yaantra further said India has witnessed an enormous growth year-on-year. It said there is 250 percent growth in the five years and it is going to be even more in the coming years. By the end of this fiscal, the revenue of the firm is expected to cross Rs. 200 crores. The expansion of the company would give an opportunity for people to use a smartphone at an affordable price.
“India has seen the highest year-on-year growth at 41 percent in the refurbished category of the smartphones. The refurbished smartphones market is set to grow by 27 percent in the coming years, where the market size for repair is USD 2 billion and for the refurbished segment is USD 4 billion (expected to reach USD 10 billion by FY 2022),” it said.
Yaantra co-founder and CEO Jayant Jha said that by carrying out this expansion, Yaantra would target for five times growth and this would also generate employment for over 3,000 people. The skilled professionals will be employed in the company’s repair, refurbish and service segment in the coming three years. He further said that the priority for the company will be to improve the company’s tech infrastructure with the greater capacity, setting-up of new repair centers and strengthening of logistics division.
“Expansion in existing territories, foraying in new market regions and getting more retail and channel partners aboard is going to be our next foot forward. Yaantra has been prominently working towards the re-commerce of smartphones and recently, we got into wearables. We will continue to expand our portfolio by adding new products,” he said.