Global lifestyle brand MINISO is accelerating its expansion efforts with a key focus on the implementation of its rapid expansion strategy in Europe.
The company has recently inaugurated stores in prime locations across the UK, including London’s Chinatown and Oxford Street.
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The move is part of a broader strategy to establish a stronger presence in key European markets, reaching a wider audience.
Since 2023, MINISO has been strategically opening stores in the UK, with notable locations such as the first blind-box-themed store globally in London’s Chinatown in September 2023, and its flagship store on Oxford Street in November 2023.
The brand’s growth continued with new stores in Camden Town and Westfield Stratford City in early 2024, and most recently at the Bluewater Shopping Centre in Kent.
The expansion extends beyond the UK, with MINISO introducing its first blind-box-themed store in Spain and opening two new stores in Paris, France.
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By GlobalDataThe brand’s European footprint now includes Iceland, Greece, Malta and Latvia.
MINISO’s, which has reported rapid growth since 2022, witnessed a 67% year-on-year increase in its gross merchandise volume in the European market in 2023.
This momentum carried into the first quarter of 2024, with sales in Europe growing more than 80% year-on-year, indicating rising consumer demand.
With plans to open more stores in Europe, MINISO’s global presence now spans 110 overseas markets with more than 6,600 stores, including more than 200 in Europe as of the end of March 2024.
The brand’s strategy includes targeting key global commercial areas and advancing the construction of overseas stores, while also focusing on global consumption trends and intellectual property innovation.
MINISO overseas business department vice-president Vincent Huang stated: “Europe is a vibrant and diverse market, and we are confident that MINISO’s unique offerings will continue to resonate with customers across the region. We are committed to providing a joyful and engaging shopping experience for everyone who visits our stores.”
In May 2024 Miniso confirmed plans to open 600 overseas stores during the year.
