Realme to set up stores via single-brand retail route

KOLKATA: Chinese smartphone maker Realme India is going to set up stores in India through foreign direct investment in single-brand retail under the automatic route, after having taken over ownership of its exclusive online store, chief executive Madhav Sheth said. Sheth said the company has taken over ownership of last month from its trade partner and will open six exclusive company-owned brick-and-mortar stores in large metros in the second half of the calendar year. These outlets will be 1,000 square feet plus and will come up in large cities like Mumbai, New Delhi, Kolkata, Bengaluru and Hyderabad.

“Operationally it is much better to manage business if we have ownership of the online store, while we want to showcase the brand and products through our company-owned offline stores. The operational ease is in handling stocks, which can remain in one warehouse, and faster order fulfilment,” said Sheth. At present, Vivo and Xiaomi are the two leading smartphone makers who have taken ownership of their retail operations in the country under retail FDI. Realme, which started operations last May, is owned by China’s BBK Group that also owns Oppo, Vivo and OnePlus.


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