MINISO signed cooperation agreements with partners from six markets including the UK, France, Maldives, Reunion Island, Aruba, and Curacao.
According to official statistics, so far, the number of MINISO’s cooperative countries and regions has exceeded 90, which is a step closer to the “one hundred countries” target that is part of its mid-term goal of “opening ten thousand stores in one hundred countries with one hundred billion sales volume” in 2022.
The European market is one of the most mature retail markets. MINISO has been trying to enter the European market since last year, opening physical stores in Spain, Germany and Ireland, overcoming a series of differences in political and economic environments, consumption habits, national cultures, laws and regulations, and achieving breakthroughs in performance and reputation.
From careful trial operations, MINISO has established itself in the European retail market, delivering many innovative products of high quality and high cost performance to European consumers.
As for overseas markets, MINISO has adopted a differentiation strategy with its products and specially set up an international commodity department, which has developed diversified international products, ranging from food, kitchen supplies, travel supplies, perfume, dolls and toys to makeup series.
At the recently held MINISO 2020 Global Spring and Summer New Product Ordering Fair, MINISO set up the “Europe pavilion” in the exhibition area. Nearly a thousand SKUs were developed by the Commodity Center team over half a year for the European market.
These products can be said to be “European market customization products.” which are more in line with European consumption habits and design aesthetics.
Good products are the best weapons for MINISO to “conquer” the world. In recent years, by ensuring high quality and low prices, MINISO has continuously strengthened its research and development ability of design innovation, in which the most prominent thing is the cross-border cooperation with world-renowned IPs, including Hello Kitty, Pink Panther, We Bare Bears, Sesame Street, and Marvel, launching a series of licensed products and winning the favor of a large number of young people.
For example, the recent 2.0 series of new products launched with Marvel led to a reservation boom from MINISO agents and partners around the world before they were officially launched to the market.
MINISO will simultaneously promote brand upgrading, product upgrading, store upgrading and refine operation management while expanding in overseas markets.