Xiaomi Pledges Rs.100 Cr to Augment its Offline Presence in India

Smartphone maker, Xiaomi has pledged Rs.100 crore to aid the retail entrepreneurship in India. Even as the popular smartphone and smart TV company is opting to double the number of offline retail touch points as well as number of exclusive retail stores across the country.

Xiaomi is intending to not only help its existing retail partners to create and run Mi Stores, under its newly announced “Grow with Mi” initiative. Also, this initiative would also train budding entrepreneurs from different backgrounds to develop their business acumen. Furthermore, Xiaomi states, collectively that the initiative will create employment opportunities for more than 10,000 Indians.

In a statement, Manu Kumar Jain, Xiaomi India Head states, “This comprehensive retail exercise will not only foster entrepreneurship but will co-lead an evolution that democratizes access to tech for Mi Fans and consumers across the country.”

Manu further adds, “With this new initiative, we are determined to expand our presence and reach out to our customers in the convenience of their hometowns. We are confident that the new initiative will significantly contribute to our offline retail presence and also will help prospective entrepreneurs from small towns and villages to embark on their journey of success.”

Xiaomi currently has over 15,000 retail touch points – in India – out of which over 3,000 are Xiaomi-exclusive Mi Stores. The initiative will further bolster its offline presence in the world’s second largest smartphone market – a market where Xiaomi also holds number one spot with regards to both smartphone and smart TV sales.

In the following year, Xiaomi is planning to double the total number of touchpoints to more than 30,000 for deeper penetration into India’s rural markets. At the same time, it also plans to double down on its Mi Stores from about 3,000 to 6,000 in the next two years.

Xiaomi has been assertively building its offline business in India since 2017 after having started as an online-only brand. At present, the company sells its products offline through Large Format Retailer partners, Mi Preferred Partner stores, Mi Studios and Mi Home stores. Precisely, Xiaomi sells its products through more than 75 Mi Homes, 75 Mi Studios, 9400 Mi Preferred Partners and 4000 Large format Retail partners along with 3,000 Mi Stores. Alongside, there are such unique concepts like Mi Express Kiosks and Mi Store on wheels.

Muralikrishnan B, COO, Mi India, “We also intend to extend the Mi Store on wheels format to cover other far corners in the country and bring the best-in-class Mi Store showroom experience in areas that have limited access.”