NYSE-listed lifestyle retailer MINISO announced the opening of its debut store along the United States east coast on 3rd September.
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Located in Cherry Hill Mall, New Jersey, the 4,000 square foot store hosts 1796 products across 11 categories ranging from the brand’s range of dolls to hugely successful collaborations with Marvel, Disney, DC and Minions. By the end of this year, the number of products is estimated to swell to 3,000, adding to an already extensive range.
The New Jersey store is part of MINISO’s plans to strengthen its physical presence in the United States along the country’s east coast and central region. Earlier this year, MINISO relocated its North American head office from the west coast to New York after four years in the country’s western region, where it has 33 stores.
MINISO’s careful assessment of market conditions and local consumer behaviour has shaped the brand’s approach in the eastern and central region.
“As we are bullish on the long-term resilience of the US economy, we are investing in it by doubling down on our expansion plans within the country. The Cherry Hill store is just the start,” said MINISO overseas VP Vincent Huang.
Nine additional stores are scheduled to open along the eastern coast of the United States by the end of this year, barring unforeseen circumstances caused by the COVID-19 pandemic.
“Given the size of the US market, the affordability and creativity of our products, we believe the country has the potential to host thousands more MINISO stores,” said Mr. Huang.
These planned openings will bring the total number of MINISO stores in the United States to around 50 since the brand entered the market four years ago.
Outside of the United States, the brand’s international expansion has persisted in Europe despite the economic uncertainty caused by the COVID-19 pandemic. In August, the brand opened 3 stores in just three days in Spain, Italy and the United Kingdom.
MINISO currently has more than 4,749 stores in 99 countries and regions. The United States is one of the few markets operated directly by MINISO Headquarters. Others include Canada, Singapore, India and Indonesia.