Xiaomi eyes 10,000 retail stores in India

After launching its 1000th Mi Store in India, Chinese tech major Xiaomi is now eyeing 50 percent revenue from the offline business by the end of this year.

"About two years ago, we realized that while we had a 50 percent share in online sales, our offline presence was negligible. That's when we started our offline expansion," Xiaomi Vice-President and MD Manu Jain.

The brand aims also to open over 10,000 retail stores across its four offline channels in the nation by end of the year 2019, the company said in a statement.

Meanwhile, the company announced the launch of Mi Studios, its latest addition to its new retail concept. Serving as the added urban extension of the popular Mi Homes, Mi Studios aims to offer the premium brand experience to its Mi Fans and consumers in 50 cities spanning across prime consumer markets in India in an optimized space.

Located currently in Bangalore and Mumbai, with an average size of 400-600 sq.ft, the new Mi Studios are an optimized version of Mi Homes replicating the same Mi Home retail design and displaying modern minimalist interiors.

Xiaomi is working towards 200 Mi Studios by the end of 2019.

The Mi store retail outlets are an extension of Xiaomi's flagship Mi Homes to be found in tier 3 and below cities and towns across India, covering some of the most remote corners of the country, and showcasing the brand's vast outreach.

"Furthering our offline presence, we are positive that our new Mi Studio concept will also significantly enhance our brand retail experience providing Mi Fans with the best of innovative Xiaomi products at incredibly honest pricing," Arvind Yadav, Head of Retail Business, Xiaomi India, said.

As part of Xiaomi's extensive efforts to boost entrepreneurship in the rural sector, the company is encouraging Mi Fans from small towns and villages, and other local individuals to run and operate these stores.

The Mi Store project is expected to generate massive employment opportunities with over 15,000 jobs in these regions, thereby boosting immense economic output.