"We are determined to expand our presence and reach out to our customers in the convenience of their hometowns."
Xiaomi currently has over 15,000 retail touch points in India. (Photo credit: Reuters)
Xiaomi on Thursday pledged a support package of Rs 100 crore to foster retail entrepreneurship in India even as the popular smartphone and smart TV company looks to double the number of offline retail touch points as well as number of exclusive retail stores in the country.
Under its newly announced “Grow with Mi” initiative, Xiaomi will not only help existing retail partners to set up and run Mi Stores, it will also train budding entrepreneurs from different backgrounds to enhance their business acumen. Xiaomi said, collectively, the initiative will create employment opportunities for over 10,000 Indians.
“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,” Xiaomi India head Manu Kumar Jain said in a statement.
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 next one year, Xiaomi is looking to double the total number of touchpoints to over 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 3,000+ to 6,000+ over the next two years.
“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,” Jain said.
Xiaomi has been aggressively building its offline business in India since 2017 after having started as an online-only brand. Currently, the company sells its products offline through Large Format Retailer partners, Mi Preferred Partner stores, Mi Home stores, and Mi Studios. More specifically, Xiaomi sells its products through 75+ Mi Homes, 75+ Mi Studios, 9400+ Mi Preferred Partners and 4000+ Large format Retail partners along with 3,000+ Mi Stores. Then there are such unique concepts like Mi Express Kiosks and Mi Store on wheels.
“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,” Mi India COO Muralikrishnan B said.