MINISO Signed Cooperation Agreement With Mauritius, Laying Solid Foundation For Developing In Africa
On April 7, 2017, the famous fast fashion designer brand MINISO signed strategic cooperation agreement with Mauritius successfully, making a step forward to its globalization. On that very day of signing ceremony, Mr. Ye Guofu, global co-founder and CEO of MINISO, specialist of “New Retail”, Ignace Lam, CEO of PALTONI RETAIL Ltd and Abthar Dhurrun, CFO of PALTONI RETAIL Ltd were present and witnessed this special moment.
(Illustration: MINISO signed strategic cooperation agreement with Mauritius, making a step forward to its globalization.)
At the signing ceremony, Ignace Lam said, “We are impressed by MINISO’s rapid development in the Chinese market and international market. In recent years, with the ever closer relations between Mauritius and China, mutual trade is developing greatly. In fact, the comprehensive strength of China's manufacturing industry is matchless. Its innovation level and adaptive capacity are in the lead. MINISO combines both the advanced design concept of Japan and the high quality of Chinese manufacturing technology. We are proud to cooperate with MINISO and we hope that we can make fruitful achievements in the future.”
(Illustration: Ignace Lam, the representative of Mauritius addressed the signing ceremony, showing his confidence to the cooperation with MINISO.)
How can MINISO, the young brand stand out and be favored by consumers from all those famous brands? The answer is innovative development model and excellent market performances. MINISO has broken the operation mode of traditional retail industry. It sticks to designing and developing products according to the preferences and demand of consumers. By integrating supply chains and sales channels, MINISO strictly controls the quality and prices of products, dominating the market with the characteristics of “high quality and low price”, forming a specific development model of its own. By being established for merely three years, MINISO has reached strategic cooperation agreements with more than 40 countries and regions, including the U.S., Canada, Australia, Singapore and Hong Kong (China). Currently, MINISO has opened over a thousand stores in Asia, North America, South America, Oceania, Europe and Africa, and this number is still increasing.
(Illustration: MINISO signed strategic cooperation agreement with Mauritius, seeking mutual development in retail industry.)
Mauritius is an island country in the east of Africa with national territorial area of 2,040 square kilometers. As most of the resources in Mauritius are imported, the overall consumption level is at a relatively high level. In recent years, Mauritius develops tourism by integrating its own resources and making better use of its advantages. The rise of tourism promotes development of local economy. It not only attracts a great number of enterprises to invest in this country, but also triggers inflation to some extent. When the consumption level is far higher than people’s income level, people long for cost effective products to relieve their shopping stress and improve their living standards, which coincides with MINISO’s market positioning.
(Illustration: Mr. Ye Guofu, global co-founder and CEO of MINISO and Ignace Lam, representative of Mauritius.)
MINISO will set up a number of stores in the busiest shopping malls in Mauritius this year, bringing “high-quality, creative and low-price” products to local consumers. It will strengthen its cooperation with Mauritius in the future and relieve the Mauritians’ shopping stress, bringing happiness of shopping to more consumers.