Xiaomi to set up 100 MI Homes stores in 2 years
Betting big on the offline market, Chinese handset maker Xiaomi said it plans to set up 100 Mi Homes, its flagship store, in India in two years. The company plans to open its exclusive outlets in Mumbai, Delhi, Hyderabad and Chennai. "Mi Home is an extension of our e-commerce business. We launched our first store in Bengaluru and We did a revenue of Rs 5 crore on first day.
We believe this Mi Home strategy will disrupt our offline retail in India. Once we have perfected our business model, we would want to open at least 100 Mi Homes in the next 2 years," Xiaomi India Managing Director Manu Jain said.