Xiaomi Secures $1B Loan to More Aggressively Invest in International Markets in order to develop its international focus and build out its offline sales presence. This plan was also revealed by Xiaomi few months back while announcing its globally sales strategy.
Xiaomi Secures $1B Loan to Aggressively Invest in International Markets
To pursue its global sales strategy, Xiaomi revealed that it has secured a 3 years syndicated loan agreement from 18 banks across Middle East, Europe, China, India, Taiwan and Hong Kong.
Xiaomi CEO Lei Jun said that:
“The loan is aimed at further Xiaomi’s key focuses across the world including growing its international footprint — Xiaomi now sells, or has sales partners, in over 20 countries — and building out an offline presence.
Xiaomi has opened 149 Mi “Home Stores” in China out of which the first-ever store was opened in India. Now as part of its new global sales strategy, Xiaomi further aims to open 100 more stores in next 2 years.
These stores are aimed to fuel the online and offline commerce worlds in order to enable customers to get the best of both.