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Xiaomi Mi Home Rakes in Rs. 5 Crores Sales Revenue in First 12 Hours

Xiaomi Mi Home Rakes in Rs. 5 Crores Sales Revenue in First 12 Hours

By Shubham Verma | Updated: 22 May 2017 18:58 IST

Highlights

Xiaomi opened its Mi Home offline store in Bengaluru on May 20
The company says it had a sales revenue of Rs. 5 crores
The company also plans to open 100 more store in India in next 2 years

Chinese tech company Xiaomi has a lot of hopes pinned on its own foray into the offline market in India. At 9am IST on Saturday, May 20, Xiaomi opened its first Mi Home physical store at Phoenix Marketcity Mall in Bengaluru. Within just 12 hours of its launch, the company on Monday reported a whopping sales revenue of Rs. 5 crores ($775,000) by selling its products. The company previously revealed plans to open 100 Mi Home stores across India in the next two years, with a few select stores to let users experience a wider Xiaomi range of products.

Xiaomi India is claiming its first-day sales revenue number to be a milestone in India's offline smartphone industry. The company says the figure was largely contributed to by sales of smartphones like Redmi 4, Redmi 4A, and Redmi Note 4, and is also touting sales of audio accessories, Mi VR Play, Mi Air Purifier 2, Mi Router 3C and Mi Band 2. It is noteworthy that Xiaomi Redmi Note 4 recently dethroned Samsung Galaxy J2 to become the highest shipped smartphone in Q1 2017, as per a report from analyst firm IDC.

On the opening day, Xiaomi said that over 10,000 Mi fans gathered to shop for their favourite Xiaomi products. In addition, the Xiaomi Redmi 4, which was recently launched in India, is already available offline at Mi Home store. It will go on sale on the company's website and Amazon India on Tuesday, May 23, while still being available at Mi Home store in Bengaluru.

"It was an extremely emotional day for all of us at the opening of our first Mi Home store." Manu Jain, Vice President, Xiaomi and Managing Director, Xiaomi India, spoke in its release regarding the historic feat of the company. He further added, "I am humbled by the unprecedented outpouring of love from all our Mi Fans who started lining up from 8 AM in the morning. I had a fun filled day with spending time with our fans, billing at the counters for our customers, entertaining people standing in queue and answering multiple queries at Mi Home. Never did I imagine that with every passing hour we were quietly creating history in the Indian retail market."

The Chinese company is experimenting with its new concept of selling its products through an offline channel, unlike the mostly online-only sale strategy. The Xiaomi Mi Home store in India is located at Phoenix Marketcity Mall in Bengaluru, and features Xiaomi's range of smartphones, power banks, headphones, fitness bands, air purifiers as well as other ecosystem products that have launched in India. "These stores represent Xiaomi's 'Internet+' and 'new retail' approach - combining the Internet efficiency of e-commerce with the service and user experience of offline retail," says the company in its release.

As we said, Xiaomi is planning to move ahead with 100 more Mi Home stores in India in the next two years. The Mi Home stores will next come to the metro cities Delhi, Mumbai, Hyderabad, and Chennai, besides Bengaluru. A few select Mi Home stores will also have an extra zone where Mi fans will be able to experience more Xiaomi services and devices.

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