Xiaomi opens 1st offline ‘Mi Home store’ in Bengaluru, plans 100 more in 2 years
- Defection of MNS corporators to Shiv Sena shakes up Maharashtra’s politics
- SC cracker ban brought respite, but a lot needs to be done
- Can blockchain technology be an answer to India’s land governance woes?
- Can see bright Samvat 2074 ahead: Ramesh Damani
- Mutual funds trim metals, retail holdings, tank up on financial stocks in September
Bengaluru: Leading China technology company Xiaomi on Thursday announced its first ever ‘Mi Home store’ in India, with plans to open 100 more in the next two years.
Mi Home stores are Xiaomi’s exclusive offline retail stores that allow Mi customers to experience and purchase Xiaomi’s latest products under one roof, the company said.
The stores represent Xiaomi’s “Internet+” and “new retail” approach — combining the Internet efficiency of e-commerce with the service and user experience of offline retail, it said in a statement in Bengaluru.
The first Mi Home store in India, which will open to public starting 20 May, will feature Xiaomi’s range of smartphones, power banks, headphones, fitness bands, air purifiers and other ecosystem products launched in India.
Xiaomi plans to open 100 Mi Home stores across India in the next two years, the statement said. Upcoming Mi Home stores will be located in other metro cities such as Delhi, Mumbai, Hyderabad and Chennai.
Speaking at the launch, Manu Jain, vice president, Xiaomi and managing director, Xiaomi India said Mi Home stores are built on their Internet+ new retail concept, and will have efficiencies similar to the online channel.
In addition to Mi Home stores, Xiaomi will continue to expand its offline presence with retailers and distributors in the country through its Direct to Retail (DTR) model which eliminates several layers within the offline distribution channel.
This allows Xiaomi to continue to maintain price parity between products sold across both its online and offline channels, the statement added.