It is focussing on expansion in tier-2 markets besides metros.
Miniso, an international fast-fashion brand, is aiming to open 800 stores by 2020. It is focussing on expansion in tier-2 markets besides metros. The brand forayed into India in 2017.
Young Liu, Chief Business Development Officer, Miniso India, said, "Our aim is to have 800 stores by 2020 in India. We believe the brand has a huge potential not just in metros but also in tier-2 and even tier-3 cities. That is one of the key focus of our expansion."
"It is challenging to get the right malls at the right location in tier-2 and tier-3 cities. But we believe India is a very big market and we offer a unique proposition for the Indian consumers. It has already become one of the major markets for us," he added.
Presently, Miniso has 69 stores in India. Out of these 69, 25 stores are company-owned while 44 are franchise stores. The fast-fashion brand is also taking the franchise route for expansion. The company is offering household and consumer goods like beauty products, stationery, kitchenware, digital and fashion accessories, and toys, among others.
Liu further stated, "We have a long-term plan for India. In fact, based on consumer feedback and the performance of Miniso, we could look at bringing Mini Home and our premium brand Nome to India in the future."