LONDON, June 14, 2024 /PRNewswire/ -- Global lifestyle brand MINISO, renowned for its trendy lifestyle products, is making a bold statement in Europe with its rapid expansion strategy. The brand is continuing to establish a strong presence in key European markets, bringing its unique blend of design, quality, and affordability to a wider audience. In the UK alone, MINISO has recently opened stores in prime locations across London, including the bustling Chinatown and the iconic Oxford Street. These openings are part of a broader push by the brand to expand its reach across the continent, with recent store openings in Spain, France, and Italy.
Flourishing Networks of New Stores Spreads Joy Across Europe
Since 2023, MINISO has strategically opened stores in key locations across the UK. Notable openings include the brand's first blind-box themed store globally in London's Chinatown opened in September 2023, the flagship store on Oxford Street opened in November 2023, and stores in Camden Town and Westfield Stratford City opened in early 2024. The brand's continued growth in the UK is evident in its recently opened store at the Bluewater Shopping Centre in Kent, near London.
In addition to its growing UK presence, MINISO has made significant strides in other European markets. Recently, for example, the brand has introduced its first blind-box themed store in Spain. Paris, France, has also embraced the brand with the opening of two stores. Furthermore, MINISO's reach now extends to Iceland, Malta, Greece, and Latvia, each offering a fresh perspective on the brand's global appeal. With an ambitious outlook, MINISO is gearing up to make its mark in more European nations, signaling the brand's ongoing commitment to bringing joy and value to customers throughout the region.
Robust Overall Growth in Europe with Impressive Financial Performance
As a critical component of its overseas expansion, MINISO has undergone rapid growth over the past two years, with strong financial performance. In the full year of 2023, the brand's Gross Merchandise Volume (GMV) in the European market increased by 67% year-on-year. This momentum continued into 2024, where in the first quarter, sales in the European market saw a year-on-year growth of over 80%., showcasing robust and enduring consumer demand. The European market's contribution to MINISO's global success underscores the brand's ability to resonate with diverse consumer preferences and adapt to local market dynamics effectively.
"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, "said Vincent Huang, Vice president of MINISO's Overseas Business Department. "We are committed to providing a joyful and engaging shopping experience for everyone who visits our stores."
Europe as a Key Growth Driver: Further Advancing the Global Strategy
The success of the new store openings and deep penetration into the European market signpost MINISO's ongoing efforts to drive brand growth and market expansion in Europe and globally. From the UK to Europe, from blind box-themed stores to regional flagship stores, MINISO is continuously refreshing local consumers' perception of the brand through differentiated stores, spreading its philosophy of joy to global consumers, and advancing its globalization strategy.
Looking ahead, MINISO aims to open more high-quality stores in Europe, bringing its products to more European and global consumers. Currently, MINISO has entered 110 overseas markets worldwide, with over 6,600 stores globally, including more than 200 stores in Europe as of the end of March 2024. MINISO will continue to target key global commercial areas, consistently advancing the construction of overseas stores, leading global consumption trends with IP innovation, and showcasing its determination to continuing going global.
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