Xiaomi to invest Rs 100 crore to double retail reach in one year

As per IDC, in 2020 Xiaomi continued to hold the top spot in the local smartphone market with 27% share, while it had some 20% share in the television market

Consumer electronics giant Xiaomi aims to double its offline retail reach in the next one year. The brand, which dominates the smartphone and smart TV market, will be investing Rs 100 crore to grow its reach to 30,000 physical outlets by early-2022, from 15,000 currently, Manu Kumar Jain, managing director at Mi India said.

The Chinese giant began its India journey as an online-only brand in mid-2014, even though rivals like Vivo and Oppo had been widely present in offline channels from the beginning. Since 2017, Xiaomi has expanded its offline presence significantly. The brand also holds the top position in the online channel since the last few years.

According to Jain, it will also double the count of its branded Mi Store outlets – from 3,000 to 6,000. Additionally, the brand has 75 flagship Mi Home stores in India. During last year’s pandemic led lockdown, it launched its first omni-channel solution under the Mi Commerce banner.

Xiaomi’s recent move comes after it initiated a capacity expansion plan with three new original equipment manufacturers on board. It has partnered two Chinese OEMs — BYD Electronic Company and DBG Technology — and Hyderabad-based TV maker Radiant Appliances & Electronics for smartphone and smart TV manufacturing here.

As per IDC, in 2020 Xiaomi continued to hold the top spot in the local smartphone market with 27 percent share, while it had some 20 percent share in the television market, industry analysts said.