MINISO Ramps Up Expansion in Europe, Opens New Stores in Spain, UK and Italy
MINISO (NYSE: MNSO) continues its European expansion with a new store opening in Seville, Spain, on August 26, marking its 36th location in the country. Following this, a flagship store in Oxford, UK, opened on August 27, and a franchise in Sardinia, Italy, opened on August 28. This growth occurs despite a resurgence of COVID-19, which has affected consumer spending in Europe. The brand's popularity among young consumers, driven by innovative product designs and competitive pricing, positions it to capture market opportunities during challenging times.
- Opening of a new store in Seville, Spain, on August 26, enhances market presence.
- Flagship store launched in Oxford, UK, on August 27.
- Sardinia franchise opened on August 28, marking growth in Italy.
- Strong appeal to young consumers due to innovative product design and affordable pricing.
- Industry-wide decline in consumer spending in Europe due to COVID-19 resurgence.
GUANGZHOU, China, Sept. 2, 2021 /PRNewswire/ -- Lifestyle product retailer MINISO (NYSE: MNSO) is further strengthening its business foothold in Europe as it has announced the opening of a new store in Seville, the capital city of Andalucía in southern Spain on August 26. The opening of the new location in Spain, the 36th in the country, is followed by the unveiling of the Oxford flagship store in the UK on August 27, then the franchise store opening in Sardinia on August 28, which is the brand's fifth store in Italy within just four months.
The continued implementation of MINISO's strategy to ramp up store expansion in Europe came amid the industry-wide drop-off in consumer spending across the continent due to a resurgence of the COVID-19 pandemic. In August, WHO European Region reported the updated number of coronavirus cases, adding yet another layer of uncertainty to the already depressed retail landscape.
Despite the sprawling impact of the pandemic on the retail industry, MINISO, with its dedication to high-quality, unique designs and affordable prices, seized a renewed market opportunity by capturing the heart of young European customers who prefer a good and safe in-store shopping experience and better value for money
MINISO's surging popularity among Millennials and Generation Z in Europe owes to its extensive partnership with IP licensors, which helps the brand continue pumping out products with fresh and innovative designs. "Young consumers value experiences and individual expression that represent their identities. They love newness and novelty. So, innovation has been at the forefront of our product development, and we are committed to offering services and products that exceed the expectations of our consumers," said Robin Liu, Vice President and Chief Marketing Officer of MINISO.
The brand's increasing popularity among young consumers, in turn, has also given MINISO the confidence to invest more in the region. It also jumped at the opportunity brought about by massive business shuttering during the height of the pandemic, which has allowed the company to open new stores at premium shopping destinations.
For new stores opened during the pandemic, MINISO follows strict preventive measures, including social distancing, facial covering, and regular disinfection, to maintain a safe indoor shopping experience for consumers.
Meanwhile, to boost sales and offset the negative business impact of the pandemic, not only did MINISO release new products with competitive prices but also launched online campaigns in partnership with Key Opinion Consumers (KOCs) and influencers on social media to increase the brand's engagement with young consumers. The company has established extensive cooperation with celebrities, influencers and KOCs as part of its global marketing strategy to attract more young people and identify potential customers
"More MINISO stores will come to Europe before the end of this year. In spite of the challenges ahead due to the pandemic, we believe that MINISO will as always spot new growth opportunity in this changing market climate," Vincent Huang, Vice President and General Manager of MINISO Overseas Business said.
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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