Chinese electronics company Xiaomi Inc, scoring on its online go-to-market strategy in India has crossed yet another milestone. The owner of the widely-sold Mi series of smartphones has opened its first Mi Home Store in Bengaluru.
The store will open for the public on May 20, 2017. With these stores, Xiaomi aims to further “bring down the device costs and offer products at same price to avoid creating a separate product for offline,” said the company, in an official statement.
All the current Mi products including smartphones and other household products will be available in this store. The customers will have the option to collect pre-ordered products via MI.com from the store. Also, if the product is not available in the Mi Home Store, the consumers will be provided with an F-code which they can enter into the website to purchase the desired product.
Xiaomi further plans to launch more stores in Delhi, Mumbai, Chennai, and Hyderabad in the coming months, with a target to launch 100 stores in the next two years.
The six-year-old company has raised around $1.45 Bn in six rounds so far and counts investors such as DST Global, Ratan Tata, IDG Capital Partners, Qualcomm Ventures, Temasek Holdings on its side.
Xiaomi released its first smartphone in China in August 2011 and later, extended its product line to laptops, air purifiers, TV’s, routers, power banks, smartwatches, a smart home (IoT) device ecosystem and more. In 2014, it launched its first Mi Home store in China and today claims to have around 72 such stores in the country.