I got curious with why Xiaomi appliances have so many sub-brands (Dreame, Deerma, Roborock, etc), and it turns out they have a pretty unique and interesting business model - they invest in startup chinese companies who specialize in one kind of appliance, then they market them under the Xiaomi umbrella brand to leverage on Xiaomi's brand equity and quickly accelerate the progress of the startup company's business.

One example is Dreame - a startup vacuum cleaner brand that Xiaomi $15M invested in:
Xiaomi backs Dyson’s Chinese challenger Dreame in $15 million round – TechCrunch

It's a win-win: startups grow at a much faster rate than they would on their own, while Xiaomi is able to churn out more and more products at a quicker development cycle and lower price.

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