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June 13, 2018

Retai chain Miniso to open 200 stores in India

Retail chain Miniso India is planning to open 200 stores in the country by the end of this year.

Retail chain Miniso India is planning to open 200 stores in the country by the end of this year.

Established in September 2017, Miniso India subsidiary currently operates around 20 stores in India, offering a wide assortment of products across various categories.

The retailer plans to expand its network by opening stores in major cities across western and southern regions of India, followed by tier 2 cities.

Miniso India general manager Joy said it has adopted the strategy of developing around north-south key cities by focusing on Delhi NCR in the north of India and the Bengaluru, Karnataka in the south.

Miniso is also offering products with a price range of $2 to $6.5 by focusing on consumers aged from 15 to 40 years.

“The company reported $1.8bn revenues during the financial year 2017, which is double compared to the revenues of 2015.”

According to Joy, Miniso has joined the retail association of India (RAI) after it entered the Indian retail space to maintain positive personal relationships and grow its business.

Miniso currently operates more than 2,600 stores in over 70 countries and regions, including the US, Australia, Canada, South Korea, Japan, China, and Vietnam.

The company reported $1.8bn revenues during the financial year 2017, which is double compared to the revenues of 2015.

Last month, the company announced its plans to open 100 stores in Canada by the end of this year, as well as 500 stores in the next three years. The first store was opened in April.