Chinese electronics important Xiaomi on Tuesday announced it has started a record 500 retail shops in rural areas of India. Called Mi Stores and started on October 29, these are much like the larger”Mi Home” stores now usable in metro cities. “The organization made a Guinness record for launching the most quantity of shops in a single moment. Xiaomi intends to open 5,000 Mi Shops at the conclusion of 2019 that will create nearly 15,000 jobs,” Manu Kumar Jain, Vice President, Xiaomi Global and Managing Director, Xiaomi India, told colleagues.
“This new business will forever change rural retail in India,” he added. Started with all the online-only plan, Xiaomi is quickly expanding its existence in offline retail as well. In September, the business launched its fourth largest flagship”Mi Home” experience shop in the nation, in Bengaluru, together with a new workplace. With the purpose of strengthening its offline network farther, Xiaomi stated in September it wanted to open 100″Mi Home” shops in 2018 itself.
The organization grew to a new high on the rear part of its successful Redmi 5A and Redmi Note 5 Pro series and refreshed Redmi 6/A/Pro portfolio,” said the report. However, the eight-year-old provider wants to be recognized not as merely another smartphone company and it started working towards this mission in 2014.
Together with its goods in the wise house portfolio, it is also venturing into non-technology related sections such as bag, shoes, apparel and more. Riding on its strong sales in India and Europe, China-based Xiaomi on Monday reported that a 49.1 percent growth in earnings for the third quarter of 2018 as net profit reached 2.48 billion yuan ($357.23 million).