VTG is an Australian electronics and telecommunications reseller headed by Maxine Horne (deservedly Australia’s wealthiest female executive) comprising six brands; One Zero, Fone Zone, iConcierge, Vita Networks and Sprout Accessories. In addition, it operates 100 Telstra retail stores and 17 Telstra Business Centers (TBC’s) from which virtually all of the company’s earnings are generated. Vita Group-run Telstra stores are operated under a recently renewed Master Agreement (MA) between Telstra Corporation Limited (ASX: TLS) and VTG. The MA limits VTG to 100 retail outlets but before you conclude this will limit growth, read on.