Leading technology company Xiaomi today announced its first ever Mi Home store in India, marking a significant milestone in the company’s offline retail strategy in the country.
Mi Home stores are Xiaomi’s exclusive offline retail stores that allow Mi fans to experience and purchase Xiaomi’s latest products under one roof. These 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.
The first Mi Home store in India, which will open to public starting 20 May, is located at Phoenix Market City Mall in Bengaluru, and will feature Xiaomi’s range of smartphones, power banks, headphones, fitness bands, air purifiers as well as other ecosystem products launched in India.
Xiaomi plans to open 100 Mi Home stores across India in the next two years. Upcoming Mi Home stores will be located in other metro cities such as Delhi, Mumbai, Hyderabad and Chennai. Select Mi Home stores will also have an additional zone where fans can experience the larger Xiaomi portfolio.
Xiaomi today has more than 70 Mi Home stores in Greater China, which are extremely popular. During the last Mi Fan Festival (MFF) in April 2017, Xiaomi had over 500,000 walk-ins across its stores and also set a new record of 24,000 walk-ins in a single day at its newest Mi Home in Beijing. Total sales from Mi Home stores in China during MFF 2017 in April 2017 exceeded RMB 75 Million (Rs. 75 crore).
Speaking at the launch, Manu Jain, Vice President, Xiaomi and Managing Director, Xiaomi India said, “We are extremely excited to announce the first ever Mi Home in India, marking yet another important milestone in Xiaomi’s India journey. We are using the lessons learnt from operating a very successful and lean online channel to offline retail via our Mi Home stores. Mi Home stores are built on our Internet+ new retail concept, and will have efficiencies similar to the online channel. We will provide a phenomenal user experience, where Mi Fans will be able to browse and experience our products first-hand at their leisure, before making a purchase. Setting up offline stores will also help to make our products more readily available for buyers across the country.”
Mi Home stores will allow Xiaomi in India to extend the success of its online Mi.com store to offline retail. Since the launch of its exclusive e-commerce platform Mi.com in India in May 2015, it has seen significant traction and emerged as one of the top 5 e-commerce platforms in India. In April 2017 alone, the site saw over 18 million unique visitors and 1 million daily active users. There were 105 million sessions in April and 500,000 concurrent users during MFF 2017 in India.
The India Mi Store app also had over 16 million app installs with more than 4.8 million organic downloads as per April 2017. It was rated as the #1 app on Google Play Store shopping category during MFF 2017.
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. Today, Xiaomi is present in more than 10,000 offline stores and is selling in more than 14,000 pin codes each week through its online partners.
The India Mi Home will open to public starting 20 May from 9:00 AM IST onwards. Mi Fans will be able to pre-book their desired Xiaomi smartphones from 16th May, 5:00 PM IST onwards on www.mi.com/india against an advance payment of INR 1,000, and collect their device from the store on 20 May.
Xiaomi was founded in 2010 by serial entrepreneur Lei Jun based on the vision “innovation for everyone”. We believe that high-quality products built with cutting-edge technology should be made accessible to everyone. We create remarkable hardware, software, and Internet services for and with the help of our Mi fans. We incorporate their feedback into our product range, which currently includes Mi and Redmi smartphones, Mi TVs and set-top boxes, Mi routers, and Mi Ecosystem products including smart home products, wearables and other accessories. With presence in over 30 countries and regions, Xiaomi is expanding its footprint across the world to become a global brand.