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Xiaomi's first Mi Home retail store in India is just around the corner
In hopes of increasing its presence in India, Xiaomi has announced that it will open its first retail store called Mi Home in the country. Located in the city of Bengaluru (Bangalore), the store will be opened “soon” although an exact date has not been given yet. It will sell a variety of Xiaomi products including smartphones, fitness bands, air purifiers, power banks, and more.
Home is where the heart is and we’re SUPER excited to announce the launch of India’s first Mi Home very soon! How excited are you Mi fans?? pic.twitter.com/NDskNMfeRC— Mi India (@XiaomiIndia) May 4, 2017
If the store turns out to be a success, the company will likely open a lot more of them in the near future. It’s no secret that Xiaomi wants to make it big in India, which is its second most important market behind China. Business has been good for the company so far; last year, it’s revenue exceeded $1 billion even though it has only been doing business in the country for about two years.
Xiaomi will invest $500 million to expand its business in India in the next three to five years in hopes of becoming the country’s top smartphone vendor by 2022 at the latest. The demand for its products has been extremely high in the sub-continent, which is why it recently had to open a second production plant in India.
The Chinese manufacturer has achieved a lot of success online and now wants to expand to the offline retail market as well. Opening a retail store in India makes sense, as it gives the company a chance to get its products in front of even more potential customers. Once it opens, Xiaomi will have its own stores located in a total of five countries: India, China, Singapore, Hong Kong, and Taiwan.