MINISO Expands its Footprint in India with Seven New Stores Opening in September
Lifestyle product retailer MINISO (NYSE: MNSO) has opened seven new stores in India during September 2021, bringing its total to over 150 locations. New stores are situated in Kolkata, Vellore, New Delhi, Pasighat, Gandhidham, and Sikar. Despite pandemic challenges, MINISO aims to become a leading lifestyle brand in India, optimizing its online and offline retail strategies to maintain stable pricing and supply chains. The company has opened more than 20 new stores in India since early 2020, showcasing resilience and commitment to both local customers and its brand growth.
- Opening of seven new stores in September 2021 increases total stores in India to over 150.
- More than 20 new stores have opened in India since early 2020, indicating strong growth.
- MINISO's strategy includes combining offline and online retailing to adapt to market conditions.
- The pricing of imported products in India has increased, creating potential pricing challenges.
GUANGZHOU, China, Oct. 4, 2021 /PRNewswire/ -- Lifestyle product retailer MINISO (NYSE: MNSO) has opened seven new stores within September in India, taking the total number of stores to more than 150. The newly opened stores are located in Kolkata, Vellore, New Delhi, Pasighat, Gandhidham, and Sikar.
Despite the impact of the pandemic, MINISO has displayed its strength of coping with uncertainties and remains committed to providing local customers with a delightful shopping experience.
"We see a huge potential of the Indian market and remain committed to establishing ourselves as one of the top lifestyle brands in this dynamic country," said Li Lin, General Manager of MINISO India.
"Our expansion has been possible due to our swift action in response to the pandemic and our approach of combining offline and online retailing that has given our partners confidence in the MINISO brand in India. Despite the price of imported products in India increasing, we have managed to avoid price fluctuation by optimizing our online channels and expand our procurement and product lines. Following these changes, we look forward to continuing to surprise and delight our customers in our new stores."
Responding to the Pandemic: A New Model of Combining Offline and Online
Since 2020, MINISO has quickly adjusted its operation strategy to limit the impact of mandatory physical store closures. Utilizing its social media accounts to conduct weekly live broadcasts and communicate with its over 300,000 followers on social networks, MINISO has maintained strong connections with customers and communities via its eCommerce platform and online communities.
Through conversations with MINISO fans and in response to their changing needs, MINISO also updated its products categories and procurement plans. For example, it has expanded its furniture and home fitness range, such as yoga mats.
The company also increased its local sourcing activities to ensure stable supply chains and competitive pricing. It moved to reduce the number of products whose prices deemed to exceed MINISO's pricing guidelines for this special period.
MINISO's proactive actions on channels and products adjustment reflect its position as an international brand with a global supply chain. By acting swiftly, MINISO has survived the pandemic, minimized the impact and continued its expansion with more than 20 new stores opening in India since the beginning of 2020.
About MINISO Group
MINISO is a lifestyle product retailer, offering high-quality household goods, cosmetics, food, and toys at affordable prices. Since its first store opened in Guangzhou in 2013, MINISO has opened more than 4,587 stores in over 95 countries and regions. With a focus on sleek design and fun trends, its mission is to enable everyone to enjoy life's little surprises.
For more information, please visit
https://www.instagram.com/miniso.official/
www.miniso.com
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SOURCE Miniso Group
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