The Japanese retail company Miniso and e-commerce major Amazon on Friday announced a partnership whereby the former would sell its products on the online platform starting with the upcoming ‘Great Indian Festival’. The retailer will start with products under the kitchen, home and beauty categories on the amazon.in, the e-commerce platform said in a statement. We are expanding our presence in India through both company-owned model and franchise partners as of now. Just like in any other country, Miniso sources products globally and locally as well. Following the same in India, we have already started sourcing and manufacturing products here. Instead of posing a threat to the company, we believe that it will help in boosting sales and enhancing brand loyalty,” he further stated.
Miniso, the Japanese designer brand, looks to open 800 stores by the end of 2020 to expand its footprint pan-India. The brand’s expansion plans come by keeping in mind the fast-paced lifestyle in India, and the high demand for its products. At present, Miniso operates 102 stores in India, of which, 24 are Miniso-owned and 78 are franchise stores. The company is claiming that India is among the top-5 contributors to its topline.
Miyake Junya, Co-Founder and Chief Designer of Miniso, said, “The Indian economy has been one of the fastest-growing economies in the world. Many American and European brands have dominated the lifestyle industry here and have thrived. Seeing the opportunity and gauging the huge growth potential that the market had to offer, we at Miniso realized that it was the right time to enter the Indian subcontinent. We received an overwhelming response for our products since the establishment of our very first store in Ambience Mall, Vasant Kunj, New Delhi. There has been no turning back ever since.
MINISO, Japan-based fast-fashion designer brand, stepped its foot in India and opened its first store at the Ambience Mall, Vasant Kunj in New Delhi following established strategic relationships with nearly 60 countries and successfully opening stores in over 30 countries including the U.S., Canada, Australia, Russia, the United Arab Emirates, Singapore, and Korea. Eyeing INR 10,000 crore revenue in the next 2 years, the brand plans to open 800 stores in the next 3 years including tier I cities. The brand has already finalized its immediate next stores at DLF Mall of India, Kamla Nagar and a few more places in Delhi-NCR.
Spread over 2,000 sq. ft., the store sells products in 12 categories including health, beauty, stationery, gift items, creative homeware, boutique package decoration, and digital accessories at a starting price of Rs 150. Subsequently, Miniso plans to open 210 stores by the end of 2018 and take the count up to 800 by 2019. Miyake Junya, the global co-founder and chief designer at MINISO commented, “MINISO is popular around the world, which means our design concepts have been widely accepted by consumers and what they seek can be satisfied by our designs. Our designs are derived from the most essential and realistic demands from life rather than those of extravagant and environmentally harmful. This is what we always emphasize — ‘back to nature, return to basic’.
According to the statistics, MINISO generated USD 1.5 billion in 2016. Nearly 2,000 MINISO stores have been set up globally with an average growth rate of 80-100 stores per month. Currently, MINISO has established subsidiary corporations in many countries, such as Germany, Brazil, South Africa, Indonesia, the U.K, India, Egypt, and Pakistan, creating over 20,000 job opportunities throughout the world. By 2019. MINISO plans to open 10,000 stores in over 100 countries, with annual revenue reaching USD 15 billion.