Daily Newsletter

20 September 2023

Daily Newsletter

20 September 2023

MINISO to open first ‘blind box’ store in UK

The new store is capitalising on the blind box trend, which are collectibles that come in a sealed box to surprise consumers.

Claire Jenns September 19 2023

Retailer MINISO is set to open its first UK ‘blind box’ store on Shaftesbury Avenue, London, on 29 September 2023 with more than 50 different blind boxes for shoppers to choose from.

The new 40m₂ store is MINISO’s first in central London and will bring co-branded blind box collections with well-known IP owners, including Sanrio characters, Disney Pixar, Winnie the Pooh and more collections.

The store will also sell a curated edit of MINISO’s popular original products, including plush toys and accessories.

Activities at the store’s launch will include a meet and greet with MINISO’s mascot PenPen, a live drummer performance and goody bags.

MINISO CEO Saad Usman commented: “The unknown element of blind boxes adds mystery and excitement to the shopping experience and we’re delighted to be bringing this special store to London. Blind boxes are now a major part of our global strategy.”

The opening of MINISO’s ‘blind box’ store marks the latest development in the brand’s continuing worldwide expansion strategy, as it aims to become a global lifestyle brand.

In total, the Guangzhou-based brand has around 5,800 stores around the world, of which more than 20 are located in the UK, including London, Manchester and Nottingham.

In 2022, MINISO decided to stop styling itself as a Japanese brand amid backlash from Chinese customers.

The retailer reported a 4.5% rise in revenue for the first quarter of FY23.

Luxury goods, digitalization, and personalization identified as key drivers of the duty-free retail market

Per GlobalData, the global duty-free market retailing market was valued at $49 billion in 2022, its highest level ever as it bounced back from the pandemic impact, and is expected to grow at a CAGR of more than 28% during the period 2020-2026, driven by government initiatives, rising passenger numbers, major global events (for instance global sporting tournaments) and the renewed popularity of cruise trips. Infrastructure investments will also play an important role, particularly airport expansion and space refurbishment, and investments in arrivals duty-free formats.

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