Miniso Group Targets 10,000 Global Stores by 2027 Focused on the United States and Europe
Miniso's Vision for Growth
Miniso Group, a leading Chinese budget lifestyle retailer, has set an ambitious goal to expand its operations to 10,000 global stores by 2027. The company identifies the United States and Europe as primary target markets due to significantly higher franchise-related spending there compared to China.
Strategies for Success
- Capitalizing on interest-driven consumption trends.
- Expanding partnerships with franchises like Harry Potter and Barbie.
- Maintaining a yearly expansion pace of 900 to 1,100 stores from 2024 to 2028.
Challenges in Expansion
While the growth potential is considerable, Miniso acknowledges the challenges posed by navigating local labour laws, product certification, and regulatory frameworks in new markets.
Focus on Quality and Innovation
The CEO emphasizes the importance of competing on quality and innovation rather than engaging in price wars to sustain profitability. Miniso is determined to strengthen its local partnerships to enhance its market presence.
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