Togofogo, a marketplace for buying and selling of recommerce products in the Mobiles category, plans to open over 100 retail stores in the next two years. In the initial stage of expansion, the company will be focusing on the Northern part of the country.
Commenting on the development, Soumitra Gupta, founder, Togofogo, says, “We are planning to launch our first ever offline store in Jaipur, being one of the potential cities in North which contributes a major chunk of sales volume in this segment of mobile handsets. We will be focusing only on tier-1 and tier-2 cities for our offline expansion this year and will evaluate foraying into smaller cities next year, based on the rollout and performance of these offline stores.”
The company has sold 3, 50,000 units of refurbished and pre-owned phones and established a customer base of 3, 00,000 in a span of 3 years. Founded by Soumitra Gupta, the company aims to transform the grey market of second hand and refurbished mobile industry into an organized ecosystem.
The refurbished market became the fastest growing smartphone segment in 2017 with the majority of sales being made through the unorganized players in the offline market. However, with the demand for refurbished or second-hand smartphones predicted to grow by up to 27% in the coming two years, Togofogo leaves no stone unturned to significantly capture the offline market through an organized channel.
Togofogo has a network of over 500 sellers that list mobiles of more than 20 brands on the website. Brands like Samsung, Apple, Blackberry, Sony, Asus, and Xiaomi among others are also featured on the company’s website. The company provides an array of services to customers right from a quality check and certification of products to provide an option to buy a 1-year warranty on refurbished & pre-owned phones through Warranty Bazaar, and also providing them with post-purchase repair services.
In April, C2C fashion recommerce platform CoutLoot has secured $1 million in pre-series A round of investment for geographical expansion and adding more categories on the platform.