Xiaomi Corporation eyes 10000 retail stores in India
Xiaomi Corporation eyes 10000 retail stores in India
After launching its 1000th Mi Store in India, Chinese tech major Xiaomi is now eyeing 50 percent revenue from the offline business by the end of this year.
The brand aims also to open over 10000 retail stores across its four offline channels in the nation by end of the year 2019, the company said in a statement.
Xiaomi has 15000 employees in China, India, Malaysia, Singapore and is expanding to other countries including Indonesia, the Philippines, and South Africa. According to Forbes magazine, Lei Jun, the founder and CEO, has an estimated net worth of US$12.5 billion. He is China's 11th richest person and 118th in the world. Xiaomi is the world's 4th most valuable technology start-up after receiving US$1.1 billion funding from investors, making Xiaomi's valuation more than US$46 billion.
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