LeEco, a global internet and ecosystem conglomerate has announced its foray into the offline retail market in India with the LeEco Le 1s. LeEco entered the country with the launch of the Le 1s at Rs 10,990 exclusively on Flipkart back in January this year. They had filed an application with the Foreign Investment Promotion Board (FIPB) for undertaking single brand retail trading of electronic products both through brick and mortar stores and e-commerce portal, to strengthen its foothold in India in April. The company had also asked for relaxation from the 30% domestic sourcing rule so that it can bring in “cutting edge technology” and “state-of-the-art” features to Indian consumers quickly and easily.
LeEco India’s retail entry was marked by the presence of Bollywood star Soha Ali Khan along with Mr Tin Mok, CEO, APAC and Mr Atul Jain, COO, Smart Electronics Business, LeEco India. As part of the first launch phase, LeEco has kick started its offline journey with cities like New Delhi and Mumbai. To strengthen its offline presence, in the second phase, LeEco plans to cover close to 70% retail stores across India that contribute to mobile sales, by the end of September 2016.
LeEco India has sold more than 500,000 units (Le 1s, Le Max and Le 1s Eco) in just 100 days exclusively on Flipkart. Now, the Le 1s will also be accessible to users through retail stores located across prime locations in Delhi and other parts of the country soon.
LeEco India will launch new devices (Le 2, Le 2Pro and Le Max2) in the country today at an event in Delhi.
Commenting on this occasion, Mr. Atul Jain, COO, Smart Electronics Business, LeEco India, said:
“We have fast-tracked our growth trajectory in India and our entry into the physical retail space affirms it. Since our India launch, we’re thrilled to have seen an incredible response from users and this landmark announcement is a step ahead in making our Superphones more accessible to our users. In the near future, also plan to have our own wholly owned retail stores across the country.“