By the end of 2025, Chinese handset and house tech firm Xiaomi intends to open at least two additional stores in Singapore, bringing the country’s total business matter to 10.
The announcement was made at the official launch of Xiaomi’s first directly managed store in Singapore on Saturday ( Dec. 21 ) at Funan mall.
Xiaomi’s business development aims to “deepen immediate engagement with South Asian markets,” the company stated in a media release. In addition to these seven retailers, Xiaomi currently operates seven stores in Singapore through reseller partners.
Xiaomi Southeast Asia’s general manager, Mr. Alex Tang, stated to reporters on Friday that the company wants to run some stores independently because there isn’t a strong link between the company and its partners, who might not be familiar with the systems as well.
It aims to “empower” its partners in order to enhance the customer experience at different stores as well, including by promoting more goods, introducing a more effective operations method used in China, and enhancing the store’s reputation.
Because more people are buying products in Singapore, the business is really optimistic, he said.
For cleaners, there has been a 40 per cent increase in interest this time, and for devices, the progress was more than 200 per share.
” We are very confident in this market and are totally committed to investing in this business,” he said. When asked why Xiaomi is now expanding, Mr. Tang said the company already has enough products to offer an “integrated client knowledge” to Singapore.
He stated that Xiaomi will continue to employ people to supply the demands of the new businesses.
Beyond Singapore, the company is aiming to improve the practice for consumers worldwide, including in different parts of Southeast Asia. Additionally, it just opened fresh locations in Malaysia and Thailand.
He acknowledged that the regions have distinct characteristics and rivals, but Xiaomi wants to offer creative goods to each industry.
Xiaomi’s third quarter revenue increased by 30.5 %, helped by the release of its first electric vehicle in March.