Xiaomi Opens a Record 500 Mi Stores in Rural Parts of India

By November 20th, 2018 AT 2:03 PM

Chinese electronics major Xiaomi on Tuesday announced it has opened a record 500 retail stores in rural parts of India. Called Mi Stores and opened on October 29, these are similar to the bigger “Mi Home” stores currently operational in metro cities. “The company created a Guinness record for opening the maximum number of stores in one single day. Xiaomi plans to open 5,000 Mi Stores by the end of 2019 that will create nearly 15,000 jobs,” Manu Kumar Jain, Vice President, Xiaomi Global and Managing Director, Xiaomi India, told reporters of IANS.

xiaomi-mi-stores-rural-india

“This new business will forever change rural retail in India,” he added. Started with the online-only strategy, Xiaomi is fast expanding its presence in offline retail as well.

In September, the company launched its fourth flagship “Mi Home” experience store in the country, in Bengaluru, along with a new office. With the purpose of strengthening its offline network further, Xiaomi said in September it wanted to open 100 “Mi Home” stores in 2018 itself.

The company grew to a new high on the back of its successful Redmi 5A and Redmi Note 5 Pro series and refreshed Redmi 6A, Redmi 6 and Redmi 6 Pro smartphones, said the report. But the eight-year-old company wants to be recognised not as just another smartphone company and it began working towards this mission in 2014.

Along with its products in the smart home portfolio, it is also venturing into non-technology related segments like luggage, shoes, apparel and more.

Riding on its robust sales in India and Europe, China-based Xiaomi on Monday reported a 49.1% increase in revenue for its third quarter of 2018 as net profit reached 2.48 billion yuan ($357.23 million).

Read more on:

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Recent Posts

Samsung Galaxy A52 5G Tipped to Launch Soon in India

Samsung has recently launched a series of smartphones in India and the global market and it seems like the company...

Redmi Watch Can Put Amazfit on Alert

  Xiaomi as a company gained fame around the world due to the company’s ability to bring modern features and...

OneWeb in Talks With UK Government for a Navigation System

OneWeb, a popular global communications company that is building up the capability to deliver broadband satellite internet services across the...