Yaantra is planning to expand its operations to over 800 cities and towns in India, engaging more than 40,000 retailers over the next three years.
The company, which provides repair services and refurbished smartphones, will also be setting up a network of company-owned and franchisee-run repair centres in 220-250 towns and cities during the same time period.
Yaantra said in a statement, "India has seen the highest year-on-year growth at 41 per cent in the refurbished category of the smartphones. The refurbished smartphones market is set to grow by 27 per cent 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 FY2022)."
Jayant Jha, Co-Founder and CEO, Yaantra, said, "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 an affordable price."
"With this expansion spree, Yaantra targets a 5X projected growth and will also generate employment for 3,000-3,500 skilled professionals across the company's repair, refurbish and service segment in these three years," he added.
