Oppo Mobiles India given nod to open stores
Oppo Mobiles India has been granted approval to open single-brand retail stores, meaning the Chinese smartphone maker can now sell directly to consumers in addition to its wholesale business.
The Foreign Investment Promotion Board announced the approval on its website, and has also approved luxury goods retailer Louis Vuitton’s application to open its own stores in India.
India allows foreign firms to sell directly to consumers through the “single-brand retail” system, but companies need to source 30 per cent of the products locally. India moved to partially relax those conditions last year, exempting foreign retailers for three years from the 30 per cent local-sourcing rule.