Technology repair chain iSmash is looking to establish more partnerships with insurance firms and manufacturers as part of plans for further expansion.
Speaking to Mobile News, managing director Julian Shovlin said the company is already working with one unnamed insurance firm. Furthering iSmash’s strategy in B2B, Shovlin is targeting official accreditation from three Android vendors by the end of the year.
Despite high profile brands closing on the high street, iSmash is planning to grow.
Shovlin said the firm wants to open 50 stores by the end of 2019 and 70 by 2020. It currently has 26 stores across major UK cities with new stores opening soon in London Bridge and Glasgow. The company fell shy of its £12.5 million in turnover target (£12.3m) last fiscal year ending December 31 which Shovlin blamed on red tape delaying the opening of London Underground kiosks in Bond Street, Bank and Oxford Circus.
It is targeting £18 million turnover by the end of this fiscal year and £25 million in 2019, bucking the trend despite many high profile retailers reporting financial difficulties or closure.
iSmash signed a concessions deal with electronics retail store Maplin in November last year. Maplin closed its doors permanently in June.
“For our insurance strategy we would work with primarily claims handlers, we would be one of their routes to claim fulfilments and can be the front-facing high street option. We see a real opportunity to be the “go-to” high street offering. We started to work with one insurer and had positive conversations with others who we expect to do business with soon,” said Shovlin.
“By our estimates there’s one million insurance claims processed per year in the UK, which is a huge opportunity for us. Our other strategy in B2B is being accredited by manufacturers which will bring us the prestige needed to really establish ourselves in the mind of consumers”.
