Fonomat, a GSM retailer held by Spanish investment fund GEDCapital, has reached a network of almost 180 stores countrywide,with the company pushing for growth to occupy the space vacated byailing rivals or by those that cut the number of their stores toavoid slipping into the red. "The great strategic value for us wasnot to open stores only where we could have derived high profitmargins or only in big cities, but to have national reach. This isadded value compared with local companies, which have focused onprofit mainly," Miguel Peralta, CEO of Fonomat told ZF. AmongFonomat's competitors that cut down the number of stores are EuroGSM and Say networks. "We have completed the development projectand now have 175 stores in 107 cities and 47 shopping centres," headded, saying that the retailer would continue to expand itsnetwork. Fonomat posted 28 million euros in turnover last year andis Orange's biggest partner judging by the number of stores.
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