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Tag: Miniso

  • Miniso’s sales soar 23 per cent in second quarter, but profit shrinks

    Miniso’s sales soar 23 per cent in second quarter, but profit shrinks

    The retail conglomerate, Miniso, posted a decrease in profits despite its sales increasing by a double-digit percentage in the second quarter.

    Revenue Growth

    Miniso’s revenue for the quarter ending June 30th saw a massive increase of 23.1%, amounting to approximately USD 693.2 million. The retailer has various brands under its umbrella, including Miniso and Top Toy. Miniso’s revenue witnessed a rise of 19.5%, amounting to USD 637 million. This growth included a 13.6% increase in Mainland China and a 28.6% growth in international markets. Top Toy’s revenue surged by 87% to USD 56.1 million.

    Same-Store Gross Merchandise Value

    The same-store gross merchandise value (GMV) of Miniso remained steady, backed by a small growth in mainland China and a slight decline in international markets. However, Top Toy’s same-store GMV registered minor growth.

    Strategic Financing

    Miniso highlighted that Top Toy had finalized strategic financing by Temasek recently, resulting in a post-valuation of approximately USD 1.28 billion.

    Operating Income and Profit

    Although the operating income rose by 11.3% to USD 116.7 million, the profits fell from USD 82.4 million in the same period last year to USD 68.3 million.

    For the first half of the year, revenue grew by 21% to USD 1.3 billion. This rise included an 18% increase in Miniso sales and a 73% rise in Top Toy sales. However, the profit for the same period dropped from USD 163 million to USD 126.5 million.

    Store Expansion

    As of June 30th, the total number of stores at the group level was 7,905, representing a year-on-year increase of 842 new stores. Miniso had 7,612 stores, which included 4,305 in Mainland China and 3,307 in international locations, while Top Toy had 293 outlets.

    The company anticipates that its revenue growth will speed up for the rest of the year.

    Questions & Answers

    How much did Miniso’s revenue increase in the second quarter?

    Miniso’s revenue for the second quarter increased by 23.1%, amounting to approximately USD 693.2 million.

    How did Miniso’s operating income and profit perform in the second quarter?

    The operating income rose by 11.3% to USD 116.7 million, but the profit fell from USD 82.4 million in the same period last year to USD 68.3 million.

    What is the total number of Miniso stores as of June 30th?

    As of June 30th, Miniso had a total of 7,612 stores, which included 4,305 in Mainland China and 3,307 in international locations.

  • Miniso Unveils Largest Melbourne Store, Showcasing Exclusive Collections And Broad Product Range

    Miniso Unveils Largest Melbourne Store, Showcasing Exclusive Collections And Broad Product Range

    Chinese consumer goods retailer, Miniso, recently revealed its latest store in Melbourne, situated within the bustling Highpoint shopping complex, marking the brand’s largest outlet in the city.

    Prime Location & Product Variety

    Occupying a prime location on the second level of the shopping center, in close proximity to the food court, Miniso’s latest store is set to draw high volumes of potential customers. The store offers an expansive range of products, including stuffed toys, stationery, beauty products, lifestyle necessities, and electronic accessories.

    Signature Collections & Exclusive Series

    The Melbourne flagship store showcases Miniso’s signature vinyl plush series, which features well-loved Disney characters, such as Winnie the Pooh and Mickey Mouse. Shoppers will also be able to find the exclusive Ufufy Fruit Collection, which is only available at the Highpoint shopping center outlet.

    Grand Opening

    The grand opening of the flagship store was a lively event, attracting many spectators. The festivities included a guest appearance by renowned Australian personality, Tahan Lew-Fatt, as well as live performances by local Kpop and Lion dance groups. The event was hosted by MC Ben McMahon and included a range of promotional activities.

    The Melbourne store marks the tenth Miniso outlet to launch in Australia since March, and the company has plans to unveil more stores throughout the remainder of the year.

    Questions & Answers

    What products does the new Miniso flagship store offer?
    The store offers a wide range of products, including plush toys, stationery, beauty products, lifestyle essentials, and electronic accessories.

    What unique features does the Melbourne flagship store have?
    The Melbourne flagship store houses Miniso’s signature vinyl plush series, with beloved Disney characters. It also offers the exclusive Ufufy Fruit Collection, only available at this location.

    How many Miniso stores are there currently in Australia?
    There are currently ten Miniso stores in Australia, with plans to open more throughout the year.

  • Miniso Unveils Innovative Miniso Space Concept, Making Its Debut in China!

    Miniso Unveils Innovative Miniso Space Concept, Making Its Debut in China!

    Global lifestyle brand Miniso has unveiled its inaugural Miniso Space at Deji Plaza in Nanjing, a significant step in its retail evolution that promises an immersive, IP-driven shopping experience. Nestled within one of China’s most prestigious luxury malls, this innovative store format emphasizes a fresh approach to consumer engagement.

    A Creative Fusion of Retail and Entertainment

    Maximizing its footprint, nearly the entire space is dedicated to vibrant collaborations with beloved global intellectual properties such as Disney, Harry Potter, Chiikawa, and Sanrio, among others. Notably, the store also showcases the exclusive debut of the WAKUKU limited-edition collection—definitely the kind of surprise that can make even a seasoned shopper do a double-take.

    With around 30 unique IPs on display, the Miniso Space stands out as one of the brand’s most content-rich offerings to date. Designed to transcend conventional shopping, this venue merges retail with exhibitions and interactive zones, crafting an immersive environment that artfully intertwines entertainment with consumerism.

    Aiming for the Upscale Consumer

    The Miniso Space isn’t merely a store; it’s an experience tailored for luxury mall visitors who crave a premium, trend-focused adventure. This aligns seamlessly with Miniso’s “Joy Philosophy,” aiming to enhance the shopping experience while making it distinctly enjoyable.

    This launch follows the brand’s recent successes with flagship stores in Madrid and Jakarta earlier in 2024, both of which spotlighted IP collaborations and expansive store layouts that cater to evolving consumer tastes. As Miniso continues to push the envelope, it raises the bar for retail innovation in Asia and beyond.

    Questions & Answers

    What makes Miniso Space different from regular stores?
    Miniso Space integrates retail, exhibitions, and interactive zones, creating a unique, immersive shopping experience focused on popular global IP collaborations.

    Which IP collaborations are featured in the Miniso Space?
    The store showcases around 30 collaborations with brands such as Disney, Harry Potter, Chiikawa, and Sanrio, along with an exclusive WAKUKU limited-edition collection.

    How does Miniso’s “Joy Philosophy” shape the shopping experience?
    Miniso’s “Joy Philosophy” emphasizes creating a fun, premium shopping experience that enhances customer satisfaction and engagement, especially suited for luxury mall visitors.

  • MINISO Chairman Sheds Light on 2023 Collar Transaction: Key Insights Unveiled!

    MINISO Chairman Sheds Light on 2023 Collar Transaction: Key Insights Unveiled!

    As the retail landscape in Asia continues to evolve, consumer preferences are shifting dramatically, blending traditional shopping habits with the rapid adoption of digital technologies. A recent report from China’s National Bureau of Statistics highlights these changes, illustrating a landscape where online shopping has cemented itself as a cornerstone of modern retail.

    Online Shopping Gains Ground

    In 2022, e-commerce sales in China surpassed a staggering 13.7 trillion yuan, a growth surge of over 10% compared to the previous year. This remarkable statistic showcases not only the resilience of online retail during the pandemic but also hints at a deeper integration into the daily lives of consumers. From fashion to electronics, virtual shopping has transitioned from a convenience to a necessity for many. It’s as if consumers realized that their couch could double as a front-row seat to the best sales in town!

    Transformation of the Physical Retail Experience

    Physical retail isn’t expected to fade away, but it is undergoing a significant transformation. Brands are increasingly prioritizing experiential retail, emphasizing personalized and immersive shopping experiences. Retailers are incorporating technology into brick-and-mortar stores, blending engaging displays with interactive elements. For example, augmented reality (AR) apps allow customers to visualize products in their own homes before making a purchase, striking a perfect balance between the tangible and virtual worlds.

    The Rise of Sustainability

    Another trend reshaping the retail environment is the growing emphasis on sustainability. Consumers are becoming more environmentally conscious, often favoring brands that prioritize eco-friendly practices. From packaging to sourcing, businesses are responding by adopting greener methods and materials. With fashion retailers like Uniqlo and Zara leading the way in sustainable collections, it is evident that a “buy less, choose better” mentality is taking hold in the marketplace.

    Challenges Ahead for Retailers

    While the outlook may seem promising, retailers face significant hurdles. Supply chain disruptions and inflationary pressures are compelling companies to reassess their pricing strategies and inventory management. As the cost of materials rises, brands must navigate these challenges while keeping consumer trust intact. The balance between maintaining profitability and offering competitive prices will be crucial in the forthcoming months.

    In a world where retail dynamics are constantly shifting, those who adapt wisely to these changes will undoubtedly emerge stronger. As Asia’s retail scene continues to innovate, it’s a canvas splashed with opportunities as vivid as the neon lights of a bustling marketplace.

    Questions & Answers

    How has online shopping impacted traditional retail in Asia?
    Online shopping has fueled significant growth in e-commerce sales, becoming a fundamental part of consumers’ shopping habits while pushing traditional retailers to adapt through experiential approaches.

    What role does sustainability play in today’s retail landscape?
    Sustainability is becoming increasingly crucial for retailers, as consumers prefer brands that demonstrate eco-friendly practices and a commitment to reducing environmental impact.

    What challenges do retailers face in the current market?
    Retailers are grappling with supply chain disruptions and rising costs, which necessitate smarter pricing and inventory strategies to maintain competitiveness and consumer trust.

  • Miniso opens first Thai flagship store in Bangkok

    Miniso opens first Thai flagship store in Bangkok

    Lifestyle brand Miniso is about to open its first theme park-style flagship store in Bangkok, Thailand.

    Located at Asiatique The Riverfront, the two-story, 600sqm space will feature more than 20 unique IP collections across various products, including plushies, toys, cosmetics, and stationery.

    The store will also introduce its Harry Potter collection to the country, showcased in a Hogwarts-inspired fireplace area. Additionally, themed zones and installations will feature characters such as Lotso Bear from Toy Story, Stitch, Winnie the Pooh, and a Minions zone.

    “By reimagining the shopping experience with IP collaboration at its core, we hope to capture the imaginations of shoppers around the world,” said the company.

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  • Miniso to raise $550M through debt instrument

    Miniso to raise $550M through debt instrument

    Chinese lifestyle goods retailer Miniso Group Holding plans to raise US$550 million through a debt instrument to fund its oversea expansion.

    The seller of anything from household appliances to electronics and cosmetics will issue equity-linked securities which is set to mature in early 2032, according to a filing to the Hong Kong Stock Exchange.

    Securities holders may exchange the shares for cash after a six-year period which is set to begin Jan. 14

    Miniso plans to use 50% of the sale for overseas store network expansion and the remaining half for share buybacks.

    The company believes that these initiatives will further enhance its long-term value for shareholders by supporting growth and expansion.

    The securities carry an exchange rate of 0.5% per year, payable every six months.

    They are offered at $8.28 per share, which is 26% higher than Miniso’ stock closing price on Monday.

    This means that investors expect Miniso shares to surpass $8.28 in the next six years.

    Miniso expanded its global footprint by adding 773 new stores in the first nine months of last year, bringing its total to 7,186. Around 59% of stores are located in China.

    The company’s revenue for the first nine months of 2024 surged by nearly 23% to CNY12.3 billion ($1.75 billion), primarily driven by store expansion and increased consumer spending in overseas markets.

    During the same period, gross profit climbed 34% to CNY5.4 billion.

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  • Miniso to acquire 29.4 percent of Yonghui Superstores

    Miniso to acquire 29.4 percent of Yonghui Superstores

    Miniso Group Holding will acquire 29.4 percent of Yonghui Superstores from various shareholders for RMB6.3 billion (US$893.3 million).

    Miniso, through its PRC subsidiary Guangdong Juncai International Trading, entered into share purchase agreements with DFI Retail Group subsidiary The Dairy Farm Company and JD.com subsidiaries Beijing Jingdong Century Trade and Suqian Hanbang Investment Management.

    The transaction will result in Miniso becoming the largest single shareholder of the supermarket chain.

    Under the agreements, Guangdong Juncai will pay each seller RMB2.35 per share, representing a 3.1 percent premium to the closing price of Yonghui’s shares on the Shanghai Stock Exchange on September 20.

    Shares of Miniso Group Holding plunged as much as 39.2 percent to HK$20 ($2.57) on Tuesday after the deal was announced.

    The lifestyle products retailer’s shares dived to the lowest since December 2022, on track for the biggest one-day percentage drop since its debut in July 2022, and was the top percentage loser on the Hong Kong bourse. Reuters reported that compared to a 2.1 per cent rise in the benchmark Hang Seng Index.

    Yonghui has logged three years of net losses, reflecting the mounting costs of closing unprofitable stores.

    Guofu Ye, the Miniso chairman and CEO, said that acquiring the shares would allow his company to expand its access to the essential goods sector.

    “With our support and leveraging our expertise in design-led products, Yonghui will be poised to develop higher-quality self-branded products to cater to evolving consumer needs,” said Ye.

    “Furthermore, I believe that our collaboration with Yonghui in retail channel upgrade and supply chain will enable us to share resources to further enhance economies of scale, optimise the cost structure and create value for consumers.”

    Miniso’s newest flagship store – which opened early this month in downtown Jakarta – is among the first to include a range of snackfoods, all sourced from local suppliers, as the novelty retailer looks to expand into other categories, with blind boxes being another.

    DFI Retail Group will receive US$637 million for its stake, funds CEO Scott Price said would support the company’s plans to expand its other businesses in Mainland China, which remains a significant market for the company.

    “We are proud to serve millions of customers through Mannings China and 7-Eleven, and we have ambitious plans to increase the number of 7-Eleven stores in Guangdong Province in the coming years,” said Price.

    The deal is subject to Miniso shareholder approval and applicable regulatory conditions, including antitrust approval.

  • Miniso opens the world’s largest store in Indonesia

    Miniso opens the world’s largest store in Indonesia

    Chinese lifestyle brand Miniso has launched its flagship store in Jakarta, Indonesia, marking the brand’s largest store globally.

    Located inside the Central Park Mall, the 2941sqm store is designed with the concept of a Dream Castle Park. There are eight product categories with three IP zones: Harry Potter, Sanrio, and Disney.

    “With the opening of the Jakarta Central Park flagship store, Miniso takes another solid step towards realizing its vision of becoming the world’s leading IP design retail group,” said Bella Tu, VP and GM of Miniso for overseas directly operated markets.

    “We hope to continue leading the trend of interest-based consumption through our Super Stores, providing consumers worldwide with emotional value and an exceptional shopping experience.”

    In addition, Miniso organised a perfume event with a seven-metre-tall perfume model as the visual highlight. The brand offers a collection of seven perfume series.

    According to Miniso, Indonesia, which currently has more than 300 Miniso stores, is a crucial directly controlled market for the brand and a popular household name.

    “The launch of our largest global store in Indonesia further cements this market’s importance,” added Tu.

    “From core cities like Jakarta, Surabaya, and Bandung to regions such as Bali, Sulawesi, and Papua, Miniso’s presence is felt throughout Indonesia. Through store development, product innovation, and localization strategies, we have continuously enhanced our brand influence, successfully establishing Miniso as one of the most sought-after brands among local consumers.”

    The Jakarta launch coincides with the 200th store opening in the US, demonstrating the brand’s expansion in the market. Miniso has opened stores in strategic locations across the US, including Times Square and Tangram in New York and the American Dream Mall in New Jersey.

     

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  • Miniso to open its first UK ‘Blind Box’ store

    Miniso to open its first UK ‘Blind Box’ store

    Chinese lifestyle brand Miniso will open its first UK “Blind Box” store on Shaftesbury Avenue, London on September 29.

    The new store will offer customers more than 50 blind boxes, capitalizing on the blooming blind box craze. According to Miniso, the new store “represents an exciting new shopping experience”, bringing Miniso’s characteristic sense of choice to the heart of downtown London.

    The new 40sqm store will house Miniso’s co-branded blind box collections with some of the IP owners. Shoppers will find Sanrio, Disney Pixar, Tokidoki, We Bare Bears, Minions, and Winnie the Pooh blind boxes. Miniso’s original products, including plush toys and accessories, will also be available at the store.

    “Our first blind box store marks a major milestone for Miniso,” said Saad Usman, COO of Miniso UK.

    “The unknown element of blind boxes adds mystery and excitement to the shopping experience, and we’re delighted to bring this special store to London. Blind boxes are now a major part of our global strategy, and this new store marks the latest development as we move forward with our global expansion.”

    Launching Miniso’s first “Blind Box” store is the latest step in the brand’s ongoing global expansion plan as it strives to become a global lifestyle super-brand. The company has around 5800 outlets worldwide, with more than 20 of them located in the UK, including London, Manchester, Nottingham, Belfast, and others.

  • Miniso opens new flagship store in Times Square, NYC

    Miniso opens new flagship store in Times Square, NYC

    Chinese discount variety store Miniso will open a flagship store in New York City next month, a move it describes as its biggest milestone since its foundation in 2013.

    The new store, located on the first floor of 5 Times Square, will offer customers almost 2000 different products.

    The new flagship will feature an updated design and nine distinct zones, including licenced collections, blind box collectibles, toys, plushies, fragrances, accessories, makeup tools, snacks, and gifts & stationery.

    According to Miniso, the overall design will be simple and clean, concentrating on licenced products from international brands like Sanrio, Hello Kitty’s parent, which will be included in the window design for the store’s launch. Miniso says it plans to bring more brand collaborations to the US market, including Peanuts, Barbie and Mario Bros.

    “The opening of the Times Square store is a crucial step towards our transformation and upgrade,” said Jack Ye, founder and CEO of Miniso.

    “Times Square is the Crossroads of the World and a hub of business, entertainment and culture. By making a physical presence in one of the busiest pedestrian areas, Miniso appeals to New Yorkers and visitors worldwide and responds to consumer demands for attractive, fun, useful, and affordable products.”

    Miniso unveiled its new worldwide strategy earlier this year, stating that it will convert into a lifestyle superbrand that brings joy to clients worldwide.

    In addition, the Chinese retailer also disclosed to expand into four new markets: Panama, Angola, Trinidad and Tobago, and Latvia, at the beginning of this month.

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  • Miniso opens its first China flagship

    Miniso opens its first China flagship

    Chinese discount variety retailer Miniso has launched its first flagship store in China, after 10 years of running its operation in the domestic market.

    The store is on Chunxi Road, one of Sichuan’s bustling shopping streets, and has a retail space of 1000sqm with almost 7000 stock-keeping units.

    The flagship store sells home items, including products made through licensing arrangements with Disney, Marvel, and the NBA brands.

    With the new launch in Chengdu, Miniso is focusing on the regional consumption potential with larger space and more creative products.

    “Chengdu is a fashionable and vibrant city that has always been at the forefront of trendy consumption,” Ye Guofu, chairman and CEO of Miniso, told local sources.

    “Miniso’s first national flagship store debuted in Chengdu, a trendy brand and city. The collision is also the beginning of Miniso’s global brand strategy upgrade to creating a mainstream business district in a high-potential city and a landmark of IP fashion consumption in a top shopping mall.”

    Miniso also debuted its first ‘fragrance museum’ on the third floor, jointly created by the brand and fragrance company Firmenich.

    Miniso is a fast-growing company in both the Chinese and international markets. As of the end of last September, the company had 5300 stores in 105 markets.

    However, the brand has been criticised for promoting itself as a Japanese-style brand. Last year, Miniso apologised and said that it would implement changes in its stores to address this, becoming the latest retailer to respond to a surge in patriotism among Chinese buyers.

  • Miniso Group reveals management changes

    Miniso Group reveals management changes

    Lifestyle retailer Miniso Group has unvieled a shift in the management board, with executive VP Steven Saiyin Zhang departing.

    According to Miniso, Zhang has resigned as CFO, executive VP, and executive director, effective immediately, for personal reasons and to spend more time with his family. Zhang will continue to work as a senior consultant for the firm.

    Following his resignation, the board will comprise five members: three independent non-executive directors and two executive directors.

    Miniso said it has also appointed Eason Jingjing Zhang, currently the company’s VP of capital markets, as its new CFO.

    “Steven has designed a detailed succession plan to transition his responsibilities to Eason, who has played a key role in driving Miniso’s success in various capital market transactions and several internal finance management projects, demonstrating a clear understanding of our business and establishing confidence in Miniso among the investor community,” said Guofu Ye, founder, chairman of the board and CEO of Miniso.

    Eason Zhang, who joined Miniso in January 2021 as director of capital markets, has been VP of capital markets since September, overseeing all capital markets matters for the company, including investor relations, strategic investment and acquisitions, corporate strategy, and treasury.

    Prior to that, he began his career in auditing at PricewaterhouseCoopers, after which he worked in different capacities mostly in capital markets in the US, Hong Kong, and China.

    Last year, Miniso strengthen its expansion strategy in Canada when reopened its Vaughan Mills store in the Greater Toronto Area and introduced its new “$2 Plus” concept to the market.

  • Miniso launches ‘$2 plus’ concept store in Canada

    Miniso launches ‘$2 plus’ concept store in Canada

    Chinese retailer MINISO unveiled a new “$2 Plus” concept at the re-opening of its Vaughan Mills store in the Greater Toronto Area. The concept reflects MINISO’s aim to provide shoppers with a unique in-store experience while offering excellent value, well-designed products in response to the effects of rising inflation on consumer budgets.

    Having been closed for refurbishment for several months, MINISO’s store at Vaughan Mills, one of the largest shopping malls in Canada, re-opened its doors to shoppers with a brand-new look. Inspired by MINISO’s original creation, the MINI Family of adorable animal characters, the store’s remodeled interior embodies the brand’s lively and youthful atmosphere and reflects the company’s intention to feature more of its own original products.

    The revamp heralds MINISO’s new direction in Canada, introducing the brand’s all-new “$2 Plus” concept to local consumers. The concept sees MINISO take inspiration from the much-loved dollar store as a means of offering customers products at low prices, while the brand provides more diverse and higher quality goods than traditional low-cost retailers. As inflationary pressures grow, MINISO’s long-standing Chinese supply chain capabilities ensure customers, who are increasingly cost-conscious, can rely on the “$2 Plus” model for quality, affordable, design-led products today and into the future.

    “Ever since we first set foot in Canada in 2017, our ambition has been to provide customers with well-designed products at reasonable prices, as well as enjoyable shopping experiences, and the ‘$2 Plus’ concept is our way of further realizing this. With affordable prices and a unique treasure hunt shopping experience in-store, our ‘$2 Plus’ stores aim to be the go-to place for everyone looking for quality lifestyle products on a budget,” said Bella Tu, General Manager of MINISO Overseas Operations.

    The Vaughan Mills store is one of the first four stores to be refashioned for the “$2 Plus” concept. Three other stores, in the Scarborough district of Toronto, Markham, and Vancouver, also opened on the same day. The remaining MINISO stores in Canada are slated to undergo similar makeovers soon.

    MINISO has opened 50 outlets across Canada since May 2017. The brand is well-known for its licensed collections with Marvel and Disney, We Bare Bears, Coca-Cola and more.

  • Chinese retailer Miniso to ditch Japanese styling after backlash

    Chinese retailer Miniso to ditch Japanese styling after backlash

    Chinese budget retailer Miniso Group Holding Ltd. apologized for styling itself as a Japanese designer brand and said it would change its logo, amid a wave of local nationalism fueled by geopolitical tension over Taiwan.

    The Guangzhou-based company has long promoted itself as Japanese-influenced, with a Japanese chief designer and Japanese characters on its shopping bags and marketing language. This, it said in a statement on Miniso’s official Weibo account Thursday, was “wrong.”

    “We used wrong brand positioning and marketing campaigns during the early days,” the statement said. “We feel regret and guilt.”

    The seller of cheap household goods has been “removing” Japanese elements since 2019, including re-designing its logo and shopping bags to change Japanese characters to Mandarin ones in its more than 3,000 local outlets, said the statement. It will also more closely police overseas units.

    The pivot comes after Miniso became a target of nationalistic social media users due to an Instagram post by its Spanish unit in July that described a cheongsam-clad toy as a Japanese geisha. It apologized then as well, but pressure has grown as the China-Japan relationship deteriorated after U.S. House Speaker Nancy Pelosi’s controversial visit to Taiwan earlier this month.

    China called off a face-to-face meeting between Foreign Minister Wang Yi and his Japanese counterpart over a Group of Seven statement expressing concern about Beijing’s “threatening actions” around Taiwan during and after Pelosi’s visit.

    The Miniso pivot is another example of how consumer nationalism in China has become a minefield for brands to navigate, with companies ranging from Mercedez-Benz Group AG to Hennes & Mauritz AB. being boycotted for perceived slights in recent years. It also reflects how “foreign” elements have now become a liability in China, a sea change from several years ago when Miniso capitalized on the popularity of actual Japanese chains like Muji to lure local shoppers.

    Anti-Japanese sentiment is growing across the country. Local media reported that a young woman was detained and interrogated by police last week after wearing a kimono for a photo shoot in the eastern city of Suzhou.

    Officials in Tokyo have become increasingly outspoken about the importance of Taiwan’s national security to Japan’s own stability, a development that has sparked anger in China, which considers Taiwan part of its territory.

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  • Miniso opens first Malaysian flagship store

    Miniso opens first Malaysian flagship store

    On June 17, lifestyle retailer MINISO introduced a brand-new store format through the launch of its first flagship store in Selangor, Malaysia. The 684.6m2 retail space is located in Setia City Mall, one of the largest shopping complexes in Shah Alam, Selangor.

    The new store concept, referred to as MINISO 3.0, puts an emphasis on a family-friendly shopping experience. Every member of the family has somewhere to shop and something to enjoy in the store.

    The biggest difference between the flagship store and other MINISO stores is its brand-new toy section. It presents not only popular licensed products from world-renowned intellectual property owners, but also MINISO’s original MINI Family collection.

    The toy section occupies 20% of the retail space in the store and appeals to shoppers the most. This section also incorporates trendy and modern design in the decor and display, featuring a unique plushie wall, blind box wall, and a play area for building bricks.

    “The dedicated toy section allows every MINISO customer to experience the immense fun and joy brought about by our toys, while enjoying the treasure hunt shopping experience in our store,” said Vincent Huang, Vice President of International Business Department at MINISO. “The flagship store truly speaks our belief – ‘Life is for fun’.”

    In addition to toys, the Selangor flagship store has a fragrance feature wall showcasing a variety of MINISO’s scented products, including perfumes and home fragrances.

    This addition was made after MINISO noticed many Southeast Asian consumers were more interested in shopping for fragrances or scented products. One study put that figure at around 72%. Pricewise, the majority of products available in the store range from RM10 to RM20.

    “Malaysia is a melting pot of ethnicities, religions and cultures. These inspire MINISO to reflect diversity in our products and stores,” Vincent added. “MINISO first entered the Malaysian market in 2016 and saw huge potential in the country. We’re delighted to announce the grand opening of our first and biggest flagship store here. I’d like to take this opportunity to thank our customers who have supported MINISO over the years, and our partners who have grown with us.”

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