Realme India, the Chinese smartphone maker, will set up stores in India through foreign direct investment in single-brand retail under the automatic route. The company’s expansion comes after having taken over ownership of its exclusive online store.
Madhav Sheth, Chief Executive Officer of Realme, said, “The company has taken over ownership of realme.com 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 a 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,” he added.