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Saf Malik
December 3, 2019
New Hong Kong office and Crewe warehouse on the way for distributor
Phoenix Cellular has been ranked in the Sunday Times Virgin Atlantic Fast Track 100, taking 40th spot.
The league table ranks 100 British private companies with the fastest-growing sales in the past three years. The Crewe-based used-phone distributor is currently seeing an annual growth rate of 72 per cent.
Earlier this year, Phoenix found itself ranked 65th in the Sunday Times HSBC International Track 200 after strong international sales.
It anticipates turnover of £50 million for the current year, and aims to reach £75 million in the next 12 months as it opens a Hong Kong office and a new 40,000-square-foot warehouse in Crewe.
Phoenix’s co-founder and director Paul Walters said that the new warehouse will enable the processing of more devices, and allow it to at least double staff numbers.
Phoenix is also hoping to make more of an impact in Europe through the appointment of ex-Brightstar man Mike Koenigsheim in a business development role.
Walters added: “This is an amazing achievement for the entire team at Phoenix Cellular, we’ve only just completed our fourth year in business and to have been ranked in the Fast Track 100 is incredible.
“The used phone market should be on everyone’s radar, forecasts predict it to be worth over $50 billion by 2022, and by the growth we’re experiencing this isn’t surprising.”