Business

Xiaomi to invest ₹100 crore in retail expansion


Electronic goods maker Xiaomi on Thursday announced a new initiative — Grow with Mi, under which it will invest ₹100 crore to support its retail partners with an aim to double the number of offline sales touch points as well exclusive Mi Stores over the next two years.

Currently, the company has more than 15,000 retail touch points, out of which over 3,000 are Mi Stores which are exclusive retail stores for Mi and Redmi products.

“We will double the total number of touchpoints to over 30,000 in the next one year and also double the number of exclusive Mi Stores from over 3,000 to over 6,000 in the next two years. For this, we have planned a support package of ₹100 crore to help the retail partners set up and run these stores over the next two years,” the company’s MD Manu Jain said.

He added that this initiative aims to foster retail entrepreneurship in the country, especially in rural markets, and is expected to create employment opportunities for over 10,000 Indians.

Muralikrishnan B, COO at Xiaomi India, added that the company also intends to extend the Mi Store on Wheels format to cover other far corners in the country and bring the Mi Store showroom experience in areas that have limited access.

Under the ‘Grow With Mi’ initiative, the company will also introduce Mi Retail Academy, wherein entrepreneurs from different backgrounds will be trained. This will include product training, sales training, customer management and polishing other soft skills such as marketing, in-store designing, customer service and retail excellence.



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