Xiaomi hauls in Rs 5 crore in revenue from Mi Home Store launch

Xiaomi has announced that it has generated Rs 5 crore worth of sales revenue from the sales of its products via its recently launched Mi Home Store in Bengaluru on 20 May. The launch which saw about 10,000 fans attend on opening day is the first one to open in India and gives a chance for potential customers to experience Xiaomi’s Mi products first hand.

Xiaomi claims that the store saw Rs 5 crore in sales revenue in just 12 hours of sales post launch.

Dissecting the sales revenue, Xiaomi revealed that major chunk comes from the sales of its smartphones like the Redmi 4 and the Redmi 4A that are budget smartphones. The Redmi 4 which was recently launched made its offline debut at the Mi Home Store. The smartphone will go on sale on 23 May at 12PM.

Other Mi branded products showcased at the store included the Mi VR Play, Mi Air Purifier 2, the Mi Router 3C and the Mi Band 2.

“It was an extremely emotional day for all of us at the opening of our first Mi Home store. 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,” Manu Jain, Vice President, Xiaomi and Managing Director, Xiaomi India said.

Xiaomi has plans to set up 100 such stores in the country within the next two years.