Miniso to open 500 stores in Canada in the next 3 years
today May 25, 2018
Chinese brand Miniso is feeling good about its recent foray into the Canadian market and has no plans to slow down.
The Asian retailer, which opened its first store in Canada last year in April, expects to open 100 stores in Canada by the end of 2018 and plans to have a total store count of some 500 stores throughout the country in the next three years.
The value-priced retailer, often referred to as a variety store, offers high quality fashion at low prices, along with a variety of household and consumer goods that include cosmetics, stationery, toys and kitchenware.
Items are priced between CAD $2.99 and CAD $34.99. According to the director of Miniso Canada, the most popular products in local shops are household products and beauty products.
The company opened its first Canadian store in Vancouver and by the end of 2017 operated about 12 stores in the city alone, all of which are located in shopping squares, commercial centers and busy districts.
Miniso, which launched in 2013 by Chinese entrepreneur Mr. Ye Guofu and Japanese designer Mr. Miyake Junya, also has stores in Ontario and Alberta, and opened its first store in the province of Quebec earlier this year.
Their stores vary in size with their largest Canadian store being 4,300 square feet.
It’s still hard to say whether the retailer will survive the Canadian market, especially with such a rapid growth rate. Miniso is optimistic however that not only its competitive pricing will impress, but also its products.
“In terms of products, Miniso's advantage lies not only in its cheap price, but also in the high quality and good-looking appearance -- the fashionable and simple design. With the continuous improvement of consumers' demands for quality and aesthetics, Miniso believes its advantages in product innovation and design will be more prominent, which will benefit its further development in the Canadian market,” the company said in a news statement.
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