Xiaomi eyes offline expansion in India through 10,000 retail stores
Category: #retail  By Pankaj Singh  Date: 2019-04-26
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Xiaomi eyes offline expansion in India through 10,000 retail stores

Chinese tech giant Xiaomi is reportedly aiming to open 10,000 retail stores in India and anticipates the offline sales to account for 50 percent of its business by the end of this year.

As per trusted sources, Xiaomi which had launched itself in India as an online-only brand in 2014, is also introducing a new retail format called ‘Mi Studio' in the country to offer tough competition to leading rival Samsung.

Manu Jain, Vice-President and MD of Xiaomi, claimed that around two years ago, the company realized that while it had a 50 percent share in online sales, its offline presence was trivial. That's when the company began its offline expansion, added Jain.

Presently, the company reportedly has over 6,000 outlets throughout three formats namely Mi Homes, Mi Preferred Partners, and Mi Stores.

Jain further mentioned that the company’s goal is to launch more than 10,000 retail stores throughout these four offline channels by the end of this year. Consequently, about 50 percent of its smartphone sales is estimated to come from the offline stores by year end, Jain said.

According to the research firm IDC, the smartphone major was ahead of rival Samsung with a 28.9 percent stake in the smartphone shipment volume over the December 2018 quarter.

Unlike Xiaomi, Samsung has a strong hold in the offline market but given Xiaomi’s aggressive stance on offline expansion, it is optimistic about maintaining its lead in the country. The company reportedly owns a few Mi Homes, but the rest are franchise-owned and operated. However, its Mi Studios will be following the latter route, cited credible sources.

Mi Studios reportedly aims to deliver a premium brand experience in the top 50 cities. In addition, Xiaomi is working toward 200 Mi Studios by the end of this year. Moreover, the company is dedicated to the Indian market and is investing across product development, manufacturing, and the startup ecosystem within the country, Jain added.  

Source Credit
https://economictimes.indiatimes.com/tech/hardware/xiaomi-aims-10000-retail-stores-in-india-by-2019/articleshow/69022457.cms



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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