Yaantra, the player in smartphone repairs & refurbishment category, announced their expansion plans for the next 3 years. The company will foray into new regions tapping 800+ cities and towns engaging over 40,000 retailers for expanding their sales operations. To support the expansion and enhance their technical expertise, Yaantra will also Set-up Company owned and franchisee run repair centres in 220-250 towns & cities in these 3 years. Recently, Yaantra won ‘The Fastest Growing Small Business of the Year Award’ at Small Business Awards 2019.
India has seen the highest year on year growth at 41% in the refurb category of smartphones. The refurbished smartphones market is set to grow by 27% in coming years, where the market size for repair is USD 2 billion and for the refurb is USD 4 billion expected to reach USD 10 Billion by FY2022. Yaantra has grown remarkably fastest with a YoY growth of over 250% in a short span of 5 years. The company started with INR 1.25 crores in their first fiscal and is today well placed to close this fiscal at around INR 200 crores.
Yaantra’s is committed to brace Indians for the digital revolution by making branded smartphones affordable to the common man. “We are the leaders in the domain and have been phenomenal in terms of revenue generation. The expansion is just an extension of our commitment to the 400 million people who are still on feature phones. We are geared up to fulfill their aspirations of having a branded smartphone at affordable price. With this expansion spree, we target a 5X projected growth and will also generate employment for 3000-3500 skilled professionals across our repair, refurbish and service sector in these 3 years”, said Jayant Jha, co-founder & CEO, Yaantra.
Delivering on ‘as good as new’ operating philosophy, Yaantra gives the power of a trusted choice, complete peace of mind with no compromise on quality for the consumer with absolute standardization of doorstep services. Refurbished smartphones are the results of rigorous 36-point quality checks and come with 6-12 months doorstep warranty, like their OEM (new) counterparts. And all this is complemented by the only ISO Certified repair & refurb facility in the country.
Jayant further added, “The priority will be improving our tech infrastructure with greater capacity, setting-up new repair centres and enhancing our logistics division. Expansion in existing territories, foraying in new market regions and getting more retail & 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 extend our portfolio by adding new products.”
Yaantra, being the leader in the refurbished category is prominently positioned in meeting the affordability factor and aspirational requirements of the common man. In addition to this, Yaantra is serving as an Exim bridge for export of refurbished phones to other emerging markets and import of used smartphones for refurbishment because of labour and cost arbitrage. Currently, Yaantra employs over 1000 people across their offices in 10 cities covering 14000+ pin codes. With over 10 lac customers served, 7 lac+ smartphones sold so far; the company receives 1500+ fresh orders daily and over 400 unique customers every day for repair.
