TELAKCES LANDS BIG FISH

The founder of Work Service and the former CEO of PGNiG have invested in a company that sells phone accessories and collaborates with Virgin Mobile.

Big fish sometimes swim into small ponds. Tomasz Misiak and Grażyna Piotrowska-Oliwa, known from the front pages of business papers—the former as an ex-PO senator and co-founder of the temporary employment agency Work Service, the latter as the former CEO of PGNiG, and both until recently as members of the supervisory board of Hawe—have engaged in the development of a chain of shops selling mobile phones and accessories. And they have engaged quite seriously, as in May they joined the supervisory board of Telakces.com, and recently participated in its capital increase.

"Telakces is to become the leader in the segment of personalized phone accessories, which is just being born in Poland. Currently, these are almost exclusively mass-produced cases from China. Meanwhile, we believe that accessories will become a fashion element, which will translate into significantly higher margins. That is why we will collaborate with famous designers. We have also just started cooperation with Virgin Mobile and will be selling their offer at our points," explains Grażyna Piotrowska-Oliwa.

For the development of the network, Telakces will need cash, which is to be provided in the first instance by a bond issuance.

Tempting franchisees Telakces estimates that about 5,000 different phone accessories are sold on the Polish market. Beyond our western border, their catalog is five times larger.

"In reality, we want to create a new market and become its leader," says Tomasz Misiak. Telakces has been operating on the market for three years and is developing on a franchise basis. It started with a point in the Gemini Park mall in Tarnów; today it has 36 outlets in large cities—the most in Warsaw, Poznań, and Kraków. From the beginning, the company focused on developing a network of points in shopping malls—in separate premises or as so-called islands. And such locations usually cost a pretty penny.

"However, it is us who sign lease agreements with the malls, handing over the premises to the franchisees. To start, they must have between 30,000 and 200,000 PLN, depending on the location. By the end of this year, we will have about 70 outlets, and by the end of next year—between 120 and 150. Today, on average, they generate 20,000-50,000 PLN in monthly turnover with several dozen percent profitability—and after introducing our own lines of accessories, these indicators will rise even further," says Sławomir Skowronek, founder and CEO of the company.

The company is expected to earn from fees from franchisees and the sale of new lines of its own products. Currently, the market leader in accessory points is Teletorium, developed by the listed company TelForceOne.

"De facto, as a company, we do not deal with selling phones, but rather a well-organized retail chain concept along with marketing and a development idea. Next year we are aiming for 15-20 million PLN in revenue; Telakces is already profitable now," says Tomasz Misiak.

Fashion for phones After the recent capital increase, Tomasz Misiak is the largest shareholder in the company, with a 30 percent stake. Grażyna Piotrowska-Oliwa holds a 10 percent stake. Besides them, five other people hold shares in the company—including Mariusz Raduszewski, formerly collaborating with FM Group, currently known, among others, as the partner of celebrity Natalia Siwiec. He holds a 10 percent stake.

"Natalia will take part in Telakces' marketing activities, including the openings of new points. She is also, along with Richard Branson, the face of the 'Just Must' campaign organized by Telakces and Virgin Mobile," says Mariusz Raduszewski. For the development of the network, Telakces will need cash, which is to be provided in the first instance by a bond issuance.

"In October or November, we want to conduct the first issuance for 1.5-2 million PLN; together with Grażyna Piotrowska-Oliwa, we intend to take up 20-30 percent of the bonds each. In the first quarter of next year, we want to introduce the company to NewConnect, likely through a reverse takeover—not to raise capital, but to build recognition and credibility on the market," says Tomasz Misiak.