MINISO Accelerates Development in the Vietnam Market, Planning to Open 500 Stores by 2019

2017-11-09 22:00 1068

HO CHI MINH CITY, Vietnam, Nov. 9, 2017 /PRNewswire/ -- According to data released by Vietnam's General Statistics Bureau, Vietnam ranked the sixth in the list of the world's most attractive retail markets, behind India, China, Malaysia, Turkey and Saudi Arabia. The huge potential of Vietnam's retail market has attracted many retail brands to develop in, including Japanese designer brand MINISO, which began to further develop in the Vietnamese market this year, for bringing "high quality and affordable" products to more Vietnamese people.

On October 28, 2017, MINISO held a promotion conference in GEM Center in Ho Chi Minh City. Mr. Miyake Junya, the co-founder and chief designer of MINISO, together with the directors, general managers and representatives of Vietnam were present at the conference. Mr. Miyake Junya addressed the conference that MINISO advocates the life philosophy of "simplicity, nature and good quality", hoping to lead consumers to establish a healthy consumption concept and a sustainable development attitude towards life by excellent design, so that consumers around the world may have a chance to enjoy the high quality and affordable products in MINISO.

So far, MINISO has reached strategic cooperation agreements with over 60 countries and regions, opening more than 2,000 stores all over the world in merely four years since its establishment. By 2019, MINISO is expected to open 10,000 stores in 100 countries with global revenue reaching USD 15 billion. There are 30 MINISO stores in Vietnam, and this number would increase to 50 by the end of 2017. MINISO plans to open 300 stores in Vietnam by 2018 and 500 by 2019. As one of the fastest growing economies in the world, the retail industry in Vietnam has great potential.

During the promotion conference, on behalf of MINISO, Mr. Miyake Junya signed the strategic cooperation agreement with a few Vietnamese developers, including Vincome, the largest property group in Vietnam, which is laying a solid foundation for MINISO to develop in this country. MINISO sticks to the customer-oriented principle and works hard to develop products that meet the needs of the local market, conveying the concept of "high quality and affordable" to every consumer. In the future, MINISO will keep on moving forward, making effort to accelerate its overseas expansion so as to realize its vision of "liberating the younger generation".

Source: MINISO Japan