MINISO Cooperates with Another Three Countries to Expand Globally
On May 16, 2017, MINISO, the Japanese fast fashion designer brand signed strategic cooperation agreements with Kenya, Sri Lanka and Panama respectively. The signing of the cooperation agreements with these three countries is a significant step for MINISO to develop in the countries following the “Belt and Road Initiative” of China. It is also an important strategy for this brand to develop further in the South American market. By cooperating with these three countries, MINISO hopes to promote the development of local retail industry and realize win-win situation.
(Illustration: MINISO signed cooperation agreements with representatives of Kenya, Sri Lanka and Panama on the same day.)
As is known to all, MINISO has developed rapidly across the globe since its establishment three years before. Currently, it has reached strategic cooperation agreements with more than 40 countries and regions. It has also opened stores in Asia, North America, South America, Oceania, Europe and Africa, among which over 10 countries such as Russia, Turkey, Kazakhstan, Mongolia and Thailand are the countries on the list of the “Belt and Road Initiative” of China. According to rough statistics, currently, MINISO has opened nearly 2,000 stores around the world, with 80 to 100 stores opened every month on average. There is no doubt that MINISO is the fastest growing brand in retail industry.
(Illustration: Mr. Miyake Junya was signing cooperation agreement with the representative of Sri Lanka.)
It seems that there is no connection among these three countries, but they are alike indeed. The long and glorious history as well as superior geographical conditions are their similarities. In recent years, Kenya, Sri Lanka and Panama are developing tourism vigorously, which has become one of the most important parts of their economies. The development of tourism attracts tourists from all over the world to come and shop in these countries, which on one hand stimulates the economic development of these countries while on the other hand causes the inflation of prices. As a result, consumers of these three countries are in need of products of high quality but low-price to improve their living standards. MINISO’s “high-quality, creative and low-price” products are their perfect choice, which brings the happiness of stress-free shopping to consumers of these countries.
(Illustration: The representative of Kenya was addressing the signing ceremony.)
In fact, the original intention of MINISO’s establishment is “coming back to nature, and reverting to the essence of products”, which is one of the most important reasons to contribute to the cooperation between MINISO and Sri Lanka. It is reported that, most of the people in Sri Lanka believe in Buddhism. As a result, Sri Lankans prefer the simple and environmentally friendly products, and this preference perfectly matches to the original intention of the design of MINISO products. Therefore, MINISO is confident that it will be popular around customers after entering Sri Lanka.
(Illustration: Mr. Miyake Junya was taking a group photo with the representative of Panama.)
It is said that the first MINISO store of these three countries are under construction, which are expected to be opened for business this year. To provide the “high-quality, creative and low-price” products to more and more consumers and bring them happiness of stress-free shopping, there will be more stores opened in these countries in the future.
It is reported that, the general agent of Sri Lanka is also that of Laos and Cambodia. MINISO has opened stores in Laos and Cambodia before and achieved great success. For example, the Laotian Minister of Finance appeared in person for shopping at the MINISO store with his wife on the day of the opening ceremony of Laos flagship store. Five major banks in Laos even installed ATMs at the store in that very night for the convenience of consumers. An excellent team with mature management experience was chosen to be in charge of the Sri Lanka market, which on one hand shows MINISO pays high attention to this market, on the other hand that it lays a solid foundation for MINISO’s development in Sri Lanka.