Xiaomi marks Guinness World Record by unveiling 500 stores in one day in rural India

Beijing-headquartered Xiaomi on Tuesday (November 20) announced that it has successfully accomplished the unveiling of more than 500 retail stores in the rural parts of India. The importance of this announcement is its record in the Guinness World Record.

According to Manu Kumar Jain, VP, Xiaomi Global and MD, Xiaomi India, the brand has created a Guinness World Record for launching the maximum number of exclusive brand outlets (EBOs) in one single day. While talking on the expansion plan to the reporters, he revealed the company's next objective is to open at least 5,000 Mi Stores by the completion of 2019. He believes that this huge foray into the electronic market from the house of Xiaomi will create around 15,000 jobs.

"This new business will forever change rural retail in India," Jain opined.

Apart from online retailing, which is still highly vibrant Xiaomi in India, the brand is giving all its endeavors to make its presence in offline retail as well. Due to the objective of strengthening its offline network, the Chinese electronic major wanted to unveil 100 Mi Home stores in the present year itself. Accordingly, the company already inaugurated its fourth flagship Mi Home experience store in Bengaluru along with a new office in September this year.

Alongside revealing the massive expansion plan, Xiaomi officials said on Monday (November 19) that it swung to a net profit in the Q3, outshining analyst estimates, highly driven by vigorous sales in both India and Europe. According to the financial profit data disclosed by Xiaomi, the profit for the three months through September touched 2.5 billion yuan as opposed to 11 billion yuan loss in the same period a year earlier.

The brand's operating financial gain sank 38.4 percent to 3.6 billion yuan in the Q3, whereas the revenue notably increased 49.1 percent to 50.9 billion yuan. The company is strengthening its strategy by adding new brands to its smartphone portfolio to target and cater the niche customers.

We're proud to share the 3rd #Super3 BIG NEWS today! #OfficiallyAmazing, yet again! 😎We have opened 500+ new #MiStore across India simultaneously and have set a new Guinness World Record @GWR. pic.twitter.com/eG6vFUMvxN

— Mi India (@XiaomiIndia) November 20, 2018