- The company is ahead of its sales target this year compared to last year
- OnePlus aims to open 100 exclusive stores
According to a recent report by ET, a top India executive told that OnePlus expects around a third of its sales in 2020 to come from brick-and-mortar stores, as it doubles down on the offline segment to build on its strong online-based growth so far.
Vikas Agarwal, general manager at OnePlus India, told the news daily that they are ahead of their sales target this year compared to last year. Now, the focus is on a lot of extending offline and service centers.
He further stated that they are now among the top five brands in terms of revenue share, and contribute four per cent of the overall industry’s value.
Offline is a new opportunity
He also told ET that the next phase of growth will be driven by the offline channel expansion, which started in the third quarter. OnePlus currently has 2,000 offline touchpoints largely through large format retail stores through its partnership with 10 retail chains and its own exclusive experience store.
They are looking to have 30 company-owned stores soon, up from 20 currently. The company aims to open 100 exclusive stores. Agarwal added that the brand will have 5,000 offline touchpoints before 2020 calendar yearend in 50 cities.
According to a report by Counterpoint, OnePlus has a 35 per cent share, followed by Samsung at 23 per cent and Apple at 22 per cent in the premium, or over Rs 30,000, segment in the third quarter.