The World-Renowned Brand MINISO Becomes The Focus Again, Signing Agreement With Madagascar Successfully
In recent time, a buoyant brand successfully breaks economic and cultural barriers for upgrading products, stores and services as well as communicating with partners around the globe, gaining popularity from consumers all over the world. This brand is MINISO. On March 17, 2017, after signing strategic cooperation agreements with over 40 countries and regions (e.g. the U.S., Canada, Russia, Singapore, UAE, Malaysia, Hong Kong and Macao, etc.), Japanese fast fashion designer brand MINISO signed another comprehensive strategic cooperation agreement with representative of Madagascar successfully. The MINISO stores will be built successively in Madagascar in the future, becoming the “new engine” of local retail industry, and promoting mutual economic growth.
(Illustration: MINISO reached strategic cooperation agreement with Madagascar, opening up world market.)
Mr. Miyake Junya, the global co-founder and chief designer of MINISO, Mr. Ye Guofu, global co-founder and CEO of MINISO, and Mr. Zhu En’ning, the representative of Madagascar were present at the signing ceremony. Mr. Zhu En’ning expressed his gratitude and honour to be one of the overseas agents of MINISO, and he believed that MINISO would expand to the global market rapidly. Mr. Zhu En’ning is not only the representative of Madagascar, but also a franchisee of MINISO China, owing dozes of stores in Beijing. It is reported that the sales volumes of Mr. Zhu’s stores stand at high levels, which exceeded over a million for a single month. It is exactly the good performance and positive market reaction that give him confidence to cooperate with MINISO once again and open up the overseas markets. When talking about why he would choose Madagascar as his destination, Mr. Zhu indicated that Africa is the most promising market throughout the world. In recent years, with the emergence of the middle class in Africa, some international retailers target at the African market, which results in some large-scale shopping malls and shopping centers are developing rapidly in cities in Africa. As a rising power in Africa, Madagascar has great business opportunities. It is “the most attractive region” for retail industry to develop business. MINISO gives full play to the advantages of Madagascar after entering this country, where it strives to develop.
(Illustration: Mr. Zhu En’ning addressed the signing ceremony.)
The cooperation between MINISO and Madagascar is a significant act for this brand to develop across the globe. It will make good use of Madagascar’s rich natural resources, electing materials of high quality and presenting more and more superior but low-price products to consumers around the world. MINISO helps global consumers to build a sound consumption view and advocates a life attitude of sustainable development. At the same time, as the largest island in Africa and the fourth largest island in the world, Madagascar has abundant tourism resources, attracting a large amount of tourists every year. According to the statistics, more than 293,200 tourists come to Madagascar in 2016, with an increase of 20% over the previous year. Among those tourists, most of them come from France, Reunion Island, Italy, Mauritius, the U.S., Germany, China and South Africa. The growth of tourism promotes the development of local economy, and becomes an important strength of word of mouth spread. MINISO plans to open its first store in the downtown area in Madagascar by the end of May this year. With the great consumption power and word of mouth of tourists, it is able to develop rapidly and improve its awareness around the world.
(Illustration: Mr. Miyake Junya was taking a group photo with Mr. Zhu En’ning at the signing ceremony.)
MINISO pursues a life philosophy of “simple, natural and quality” and a brand proposition of "coming back to nature, and reverting to the essence of products". It gains popularity of consumers by presenting high quality but low-price products. Since its establishment in 2013, MINISO has actively explored the international market and devoted itself to presenting happiness to consumers around the world. Currently, MINISO has opened over 1,800 stores in Asia, North America, South America, Oceania, Europe and Africa, opening 80-100 stores every month on average. In 2016, MINISO reached nearly USD 1.5 billion sales volume. MINISO leads the market to a new trend of “superior products consumption”, and even be regarded as the world’s fiercest competitor by some well-known enterprises such as UNIQLO, MUJI and Watsons.
One of the parties is the most influential retail giant, and the other is the country with great market potential and is rich in natural resources. The cooperation of both parties will promote the development of distinctive retail industry in Madagascar. MINISO will strive to realize its original intention, which is to “relieve the younger generation’s shopping stress and make more consumers happy”.