IBEF: September 16, 2021
On September 15, 2021, Xiaomi announced the launch of >100 retail stores across tier V and tier VI cities, to expand its reach in India.
The company plans to reach to the remote areas of the country and address the customer needs, leveraging technology and making it more accessible to citizens. The company also plans to generate employment opportunities for >200 families in the country and encourage entrepreneurship.
Mr. Muralikrishnan B, Chief Operating Officer, Xiaomi India, said, "Our aim with the expansion is to enhance the availability of Redmi and Xiaomi products across tier V and tier VI cities and offer a best-in-class experience in remote areas. We are assured that our retail stores would encourage the budding entrepreneurs in their journey and further create employment opportunity in India.”
On August 15, 2018, Xiaomi India opened its first offline retail store in Bengaluru and so far, it has opened >3,000 offline retail store in the country, contributing to the generation of >6,000 jobs in India.
In March 2021, the company announced Grow with Mi Initiative, a plan to increase and double the number of offline retail store and exclusive retail stores, with its Grow with Mi Initiative.
Also, earlier this week, Xiaomi announced a new visual identity for its premium product range, to unify its brand presence worldwide. The new "Xiaomi" logo will now replace the company’s premium "Mi" series products.
Along with the introduction of new brand identity, the company also plans to have two distinct product series under the parent corporate brand. The "Mi" logo will continue to represent the corporate brand.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.