Cool Holdings announces expansion plans to open around 200 stores by 2021

Cool Holdings Inc (NASDAQ:AWSM), the company which is one of the biggest resellers of Apple Inc (NASDAQ:AAPL) products, announced on Tuesday a plan to expand the number of its stores to around 200 by 2021.

“Our plan is to aggressively grow our store footprint from 17 stores today to approximately 200 stores by 2021, provided we can arrange the proper funding,” said Felipe Rezk, the company’s chief sales and marketing officer.

This will be done through a combination of organic growth, the development of their own stores and acquisition of Apple retailers across the Americas, he added.

Shares of the company swung wildly on Tuesday, hitting a session peak at US$7.10, and then falling to the session low of US$5.50, down 22% by midsession.

READ: Cool Holdings stock jumps as part of backdoor play by Apple investors

The company is not owned or run by Apple, but specializes in selling the iPhone maker’s products under its OneClick brand.

In the last year, Cool Holdings has opened or acquired four OneClick stores in the US state of Florida, six stores in Argentina, and seven stores in the Dominican Republic.

The company’s Cooltech Distribution unit serves as both an internal supply partner to all of its OneClick stores, as well as a supplier to other Apple and big box retailers. 

Cooltech maintains direct sourcing relationships with accessory manufacturers such as Bose, Belkin, Clik, EVE, JBL, Klipsch, Moshi, Sonos, Speck, Tech 21, Thule, Transcend and Zagg-Mophie, amongst others.

Cool Holdings is a Miami-based company focused on premium retail brands. 

Story by ProactiveInvestors