Xiaomi remains one of the most innovative brands in China but also internationally, although innovation has been stifled by an inefficient sales channel in recent years.
Although the company has been one of the pioneers of online smartphone sales in China, however Sales figures could clearly improve in a saturated market if only the slowness to incorporating an efficient offline sales network in the marketing strategy was overcome.
Xiaomi seems to have understood these limits and is about to solve them so much that the same company has revealed that it has loan for 1 billion dollars so that you can break into the markets outside of China, but also to build your own offline retail network.
According to the report, the technology giant obtained the fund through a three-year loan agreement signed with 18 banks in Europe, the Middle East, India, China, Hong Kong and Taiwan. The loan is co-ordinated globally by Deutsche Bank and Morgan Stanley, with Bank of China (Hong Kong) Limited, Deutsche Bank AG and Wing Lung Bank partner of the agreement.
The regions where the 18 banks are dispersed could give us one vision on the focal point of company expansion which will include the construction of more businesses and physical stores in both China and other regions of interest. Xiaomi recently revealed that he plans to open 2000 stores offline and at least half will be located outside of China.
Expansion strategy has already begun with open stores in India and recently also in Greece. Xiaomi also tried in Russia with the launch of some of its products. It also includes the recent expansion strategy signed agreement with Nokia which sees the two brands tighten a business collaboration. Are we perhaps approaching finally declaring Xiaomi as a globally recognized brand? Only time will give us the answer but we really hope the best for the technological giant.
