Chips & Hardware
Nothing opens its first retail store in India
Nothing has opened its first retail store in Bengaluru, India, to capitalize on its fastest-growing market, with plans for future locations in Tokyo and New York.
Nothing, the consumer hardware company, has opened its first physical retail store in Bengaluru, India. The two-story location marks an expansion in the company’s largest market, where its user base is concentrated. According to data from research firm IDC, Nothing was the fastest-growing brand in India during Q2 2025, recording an 85% year-over-year growth in shipments. The firm also reported that Nothing holds over 2% of the smartphone market share in the country. The new store is the company’s first retail location outside of London, where it is headquartered.
The Bengaluru store is designed to showcase products from both the Nothing brand and its budget brand, CMF. CMF is headquartered in India and has a joint venture with local Indian ODM (original design manufacturer) Optiemus. Co-founder and CEO Carl Pei explained that the two brands target distinct audiences and price points.
“Nothing is more niche with a higher price. CMF is more [targeted toward] mass [market]. You know it’s mass, but it’s not just off-the-shelf rebrand products that usually [appear] in this price point. They are also products that we put a lot of care into,” Pei said.
He noted that the physical space is inspired by the brand’s manufacturing and testing processes, featuring elements that resemble a factory production line and machines showing hardware testing.
Nothing’s retail expansion in India mirrors moves by other hardware makers. For example, Apple is set to open its sixth store in the country this month, located in Borivali, a suburb of Mumbai. Beyond India, Nothing plans to open two more stores in Tokyo and New York, though the company has not provided timelines for these openings.
The physical retail push follows significant capital accumulation by the startup. Nothing’s financial milestones include:
- Total funding raised to date: $450 million
- Series C funding round: $200 million raised last year, representing a stage of venture capital financing
- Company valuation: $1.3 billion at the time of the Series C round
The Series C round was led by Tiger Global, with participation from other investors including GV, Highland Europe, EQT, Latitude, I2BF, and Tapestry.
Why it matters
Nothing is doubling down on its largest market, India, using physical retail to build brand presence and differentiate its premium Nothing line from its mass-market CMF brand.