Spice Groupacquires Global Access
~’SpiceGroup announces further expansion plans; looking Southfor 2nd acquisition within a year’~
New Delhi; 21st Jan’10: SpiceRetailLtd., the pioneering and leading Multi Brand Mobile & technology retail chain,today announced acquisition of ‘Global Access’, a prominent Karnataka-based retail chain. This acquisition will moveSpice Retail to a dominant position to the tap thestate as well as the regional market.
Commenting on the acquisition Mr. Dilip Modi, Managing Director, Spice Televentures said, “Retail in India is complex; andwe being a pioneer in mobile retailing in the country realise its nuances. The completion of this acquisition represents a significant step for us in our growth strategy.Global Access has been a strong regional brand. This acquisition will bring in presence, expertise and experience of their retail business in the regionand unleash a force multiplier that generates value for the business as well asfor the customer across segments. This is but a step towards a larger goal”.
Spice Retail also has aggressive expansion plans, aiming to reach its audiences in many more ways than just mobility and IT products. It will soon be adding products in categories like imaging, gaming etc which will be supplemented by various other innovative services & products.
“This acquisition along with our recent acquisition of Cellucom aims to improve the retail capillarity of the organization. It also reaffirms our commitment towards the sector and helps us boost our customer profile with an increase in reach and enhancement of the product portfolio.” added Mr. Dilip Modi.
Mr. Sanjeev Mahajan, CEO, Spice Retail Ltd. commenting on the acquisition said, “As we embark upon yet another milestone in our quest for retail excellence, we welcome the employees of Global Access to the Spice family and look to working closely with them for creating value for the customer.”
About Spice Televentures & Spice Retail
Spice Televentures is part of the Dr. BK Modi-led Spice Group (a conglomerate in Telecom, Technology, Entertainment & Financial Services verticals). The Spice Group has a long and rich 30-year history in pioneering products and services in technology, automation, IT and telecoms in the Indian market.Spice Televenturesis a part of Spice Group. Spice Televentures manages and operates the interests of Spice in the domain of Mobile devices (Spice Mobiles), Mobile Value Added Services (Spice Digital), Application Development (Spice Labs), Mobile & Tech Products Retail (Spice Retail) & Enterprise Managed Services (Spice BPO).
Spice Retailis a leading mobile & technology-product retailer, voted the best in Customer Service by Mint-Pitch and voted the Best Large Format Retailer in North India by Voice & Data.
For further information, please contact:
Vivek Sabharwal, LINOpinion - The Lintas PR Division
(0)9811546419,