Xiaomi's Dedicated Mi Home Stores Will Happen Soon in India, Says Manu Jain
Buoyed past its growing popularity and increasing market-share in India, Chinese smartphone behemothic Xiaomi is reportedly planning to launch company-owned Mi Home stores in the country after the government recently relaxed the norms for foreign direct investment in single-brand retail.
The company currently has 23 Mi Home stores across seven cities, but given the restrictions surrounding FDI in single-brand retail stores, all these are owned by franchisees and managed past Xiaomi. The company also has more than 1,500 Mi-preferred multi-make stores in 16 cities around the country.
Xiaomi India Md, Manu Jain, told the Times of Bharat that, "the relaxation of norms ways that we can open up our own stores in India. This will happen soon, as the year progresses". According to him, "It now makes sense as automated approval has come in. We do not need to go through government approvals earlier doing then".
The company expects the new stores to increase the share of its offline sales to effectually 30 to 40 percent of its overall acquirement by the end of 2018. Offline channels shortly account for only around 25 percentage of the company'due south overall revenues.
Xiaomi was one of the very outset Chinese companies to accept bet big on India, and its faith in the land has paid off exceedingly well over the by few years. While the company was always one of the near pop online-only smartphone vendors, the recent expansion into offline channels via third-party Mi Home Stores and Mi-preferred stores helped the company supervene upon Samsung as the largest smartphone vendor in the country during the last quarter of final yr, aircraft a reported eight.ii 1000000 smartphones during the period, thanks largely to the massive success of the Redmi Notation 4, which went on to become the acknowledged smartphone in the land last yr.
Overall, Xiaomi shipped around 28 million smartphones in the country in 2017, finishing but behind Samsung every bit India's largest smartphone vendor, even equally Oppo, Vivo, Gionee and others struggled to increase shipments in an increasingly competitive market.
Source: https://beebom.com/xiaomi-mi-home-stores-india/
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