Since the first store was set up overseas in 2015, MINISO has expanded throughout the world in three years. So far, MINISO has opened over 1,000 stores overseas in more than 70 countries and regions, and its sales volume of the overseas markets has reached $380 million in the first half of 2018. In the eyes of global consumers, MINISO has become the representative brand of “good-looking, high quality and high cost performance”.
MINISO has gradually increased its expansion in overseas markets since 2016, and relevant data proved that it has achieved good results. The Philippines ranks in the top three for the number of MINISO stores in the world, only after Indonesia and India. For the good performance of the Philippine market, MINISO held a global agents summit in Manila on August 4. Representative partners from dozens of countries and senior officials of MINISO gathered together for discussion, learning and exchanges.
Mr. Ye Guofu, the global co-founder and CEO of MINISO addressed the summit that currently, the American section performs the best in the regional ranking of daily performance. In the TOP10 of MINISO’s global store openings, there are three countries in the Americas, which are Mexico, Brazil and Canada.
Among all the Asian countries that MINISO has developed in, the Philippines performed the best, ranking in the top three. The representative of the Philippine market said that MINISO had opened 58 stores in the Philippines till now, and they all performed well. Such achievement cannot be achieved without efficient management and operation. From ordering to local distribution, inventory optimization and personnel management, every link is closely linked.
Mr. Vincent, the vice president of MINISO International Operation Center concluded the overall development status of MINISO in overseas markets in the first half of 2018 and its planning for the second half of the year. According to Vincent, MINISO has opened over 1,000 stores in the overseas markets, and about 350 of them were opened in the first half of 2018. Besides, MINISO has also opened stores in another 10 countries and regions in 2018. In the first half of 2018, MINISO’s global sales totaled $380 million. In the second half of 2018, MINISO will focus on products and adopt differentiation strategy for overseas markets. At present, the top three categories in the international market are fashion accessories, electronic appliances and health & beauty products. Among them, the cosmetics market is not yet saturated and has great potential to grow.
The development of MINISO in overseas markets is rapid and mighty, and the actual operation and management in different countries and regions have accumulated a lot of experience. Such development momentum makes investors more confident.
During the summit, MINISO had reached cooperation agreements with Hungary and Costa Rica, making a step forward to its goal of “opening ten thousand of stores in one hundred countries with one hundred billion sales volume”.
SOURCE: MINISO Japan
