Xiaomi opens 700 stores a month

Xiaomi opened its 10,000th Mi Home store in China this week, as confirmed by Redmi vice president and brand head Liu Weibing. Statistically, the company opens 700 stores a month.

Xiaomi's first store opened in September 2019 and the 1,000th store became a reality in January 2020. Interestingly, the company's 5,000th store opened in April this year. It turns out that the company has opened 5,000 stores in just over six months, which means it opens around 700 stores every month.

In the early years after its founding, Xiaomi was mainly focused on its online sales platform, but a few years ago it began actively building a network of retail stores around the world. Earlier this year, the Chinese company set a new record by opening more than a thousand stores simultaneously, which went live immediately.

Source: shine

Illustration: wikimedia