- Xiaomi has presence over more than 2500 single brand outlets in India
- The company has been focusing on offline expansion since 2019
Xiaomi has opened its first Mi Studio in the state of Assam. This Mi retail outlet also marks the opening of Mi’s first Studio in the North East India. Muralikishan B, chief operating officer, Xiaomi India, also announced the same via a tweet. Assam’s first Mi Studio is located in Guwahati’s City Center.
“Our 1st Mi Studio of Assam & the North East region was launched in Guwahati yesterday at City Centre Mall. Mi Studios bring the best in class retail experience in a smaller format compared to our flagship Mi Homes,” read one of the tweets posted by Muralikishan B.
Our 1st #MiStudio of Assam & the North East region was launched in #Guwahati yesterday at City Centre Mall#MiStudios bring the best in class #Retail experience in a smaller format compared to our flagship #MiHomes
— 41 73 61 2 37 23 (@hawkeye) February 5, 2020
Offline expansion mode
Xiaomi, since the beginning of 2019, has been expanding in the offline channel aggressively. The Xiaomi team had recently celebrated opening of its 2500th exclusive brand retail store in India.
A recent report by Channelplay had highlighted that China-based Xiaomi, in terms of single brand retail stores, is 44 per cent bigger than Samsung and over 48 per cent bigger than CCD.
“The growth in offline retail is largely motivated by the increasing need of experiential buying by Indian consumers. A large proportion of consumers prefer a physical product experience before buying and another significant proportion is reluctant in making financial transactions online, especially for high value products. This has largely established the need for brand experience stores,” Sundeep Holani, CEO, Channelplay, had said back then.
Xiaomi was able to generate Rs 12,365.81 more in revenue during financial year 2019 (FY 2019), in comparison to financial year 2018 (FY 2018). The China-based company, in its RoC (Registrar of Companies) filing, has filed revenues worth Rs 35,426.92 crore for FY 2019. As of March 31, 2019, global shipments of the Xiaomi smart TVs had reached 2.6 million units, representing a year-on-year growth of 99.8 per cent.