Chinese discount chain Miniso plans to open a thousand new shops this year, of which most would be outside of China. The focus is shifting to international expansion as demand in the home market weakens.
Boosting foreign sales
It would be the first time that the non-food discounter opened the majority of its new shops outside its home country. Within two to three years, half of the company’s sales should come from abroad, CFO Eason Zhang told the Financial Times. Today that figure stands at 35 %.
Miniso – sometimes called the Chinese version of Action – currently has 6,500 shops, of which two thirds are in China. The majority of the stores abroad can be found in other Asian countries, but the retailer also operates in France and – since 2019 – in the Netherlands. The chain sells a wide range of products: from electronics to toys, cosmetics and snacks.
