Mazuma has also spent £2 million on its advertising campaign
Mazuma Mobile is hoping
to double its turnover for the year after completing a move to a new
office and warehouse space in Morecambe earlier this year.
The phone trade-in company, which was bought last year by Hong Kong-based EcoRenew, started the year with an initial turnover target of £50 million. Turnover so far this year is around £25 million.
But EcoRenew Group CEO
Craig Smith believes that a combination of seasonal increases in
phone trade-ins, as well as advertising, can drive turnover to double
its initial target.
“We’re looking at peak and seasonal times, and product launches, particularly Apple’s,” Smith said. “If we get our numbers right, turnover could go through £100 million. The average price of a trading handset a few years ago would be £40-50. It’s now £130 across all our products, which is going to contribute.”
EcoRenew has also given
Mazuma £2 million towards advertising across digital, radio and TV.
Mazuma’s marketing manager Andy Cruxton said: “The trick is to
get the UK absolutely rocking and rolling, and then replicate that
model wherever else EcoRenew wants us to go next.”
Mazuma is also looking
to expand its product stable to include laptops and gaming consoles,
as well as launch an app for its customers.