Euroset to open 15 luxury mobile phone stores

Russian mobile phone retailer Euroset plans to open 15 luxury mobile phone stores before the end of 2009, Euroset Vice President Vitaly Podolsky told business newspaper Kommersant. He estimated that the investment required in opening one luxury store will amount to between USD200,000 to USD300,000, excluding the purchase of merchandise, compared to a standard store which costs between USD20,000 to USD25,000. The average price of a mobile phone from one of these stores will be EUR6,500 (USD8,736), he said, adding that the company planned to sell phones from manufacturers including Finland’s Vertu, Switzerland’s GoldVish, Canada’s Mobiado, and Russia’s Gresso. Euroset’s Head of Luxury Sales Irina Burova said that sales of luxury mobile phones totalled between USD150 million and USD180 million in 2008.

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