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Dive Brief:
- Continuing its store expansion, Miniso opened its first U.S. IP Collection store at the American Dream Mall in New Jersey on Friday, the lifestyle brand announced Tuesday.
- The company aims to open between 550 and 650 new stores worldwide by the end of 2024, per the press release. In the U.S. the company plans to open stores in Ohio, Tennessee, Colorado and Utah, among other locations.
- Miniso expanded to 10 new states last year and currently operates more than 6,400 locations globally.
Dive Insight:
Miniso is rapidly expanding its store footprint following recent sales success in the U.S. and abroad. The company said it saw a 40% jump in its global IP product sales last year and its North American revenue spiked 128%.
“Our vision is to become the world’s leading IP design retail group, and North America is pivotal in achieving this goal,” Bella Tu, general manager of Miniso overseas directly operated markets and vice president, said in a statement. “The American Dream store is a key part of our strategy to enhance our global footprint and bring unique, joy-filled shopping experiences to more consumers.”
Beyond its recent New Jersey store opening, the company has been unveiling other stores in the U.S. and other markets. The company opened its 100th location in Orlando, Florida last December. In March, it opened a pop-up shop in New York City’s Time Square, complete with merchandise from brands like Sanrio, Snoopy, Minions and Winnie the Pooh. This week, the retailer also announced another store opening in Hanoi, Vietnam, featuring plush toys, memory foam neck pillows, headbands and other merchandise.
via https://www.aiupnow.com
Tatiana Walk-Morris, Khareem Sudlow
