LeEco has filed an application with FIPB (Foreign Investment Promotion Board) to open single-brand retail stores to sell its products in India. The company is looking to broaden its India operations with brick and mortar stores as well as an e-commerce portal.
LeEco CEO Atul Jain said on the announcement:
India is a key market for LeEco and we plan to significantly invest in setting up our business model in the country. We are committed to offering our users cutting edge technology at disruptive prices. We have received a great response from consumers so far for our Superphones and now plan to strengthen our presence in the market by opening our own stores and e-commerce portal to offer our users the best-in-class experience.
LeEco (formerly LeTV) has already made great strides in India with its two smartphones with the Le 1s being the clear winner in the super competitive Rs. 10,000 price bracket. The company had already sold over 200,000 Le 1s and LeMax smartphones in India by the start of March 2016 which was just within 30 days of launch of the devices in India.
Coming back the exclusive single-brand retail outlets, LeEco is planning to open these stores first in major cities like New Delhi, Bengaluru, Mumbai following which the company will expand to other regions as well. The company will showcase its entire product portfolio in these stores including TVs, VR Headets, Bluetooth devices as well as power banks.
Moreover, LeEco also wants to replicate its Ecosystem success in India, wherein LeEco won't only be selling devices to consume content but be a part of the content delivery process as well. With that, they also want to start manufacturing smartphones in India soon.
