On 25th May 2018, Miniso unveiled its plans to continue its expansion throughout Canada by committing to embark on its high-growth strategy in the country.
Miniso is the vision of co-founders Ye Guofu, a Chinese entrepreneur, and Japanese Miyake Junya. Following its inception in 2013, the duo plans to open the significant number of stores throughout Canada including major cities to nationwide locations.
Market entry
Miniso first entered the Canadian market as a foreign competitor. With its plans to break “the inherent retailing format with its high quality and low-price products”, the business has forged this approach to create a unique selling point in the competitive global packaging market.
On 15th April 2018, Miniso marked its global expansion by opening its first store in Canada. This comes after the company stated at the beginning of 2018 that it intended to widely launch in the Canadian market. The brand is expected to open 100 stores in Canada by the end of 2018.
Miniso’s approach to growth will gather further pace over the next three years, as it moves towards its goals of opening 500 stores.
Why Canada?
“Canada is a highly developed country where people have high quality of life. Most of the Canadian is used to dine out, go shopping and enjoy beauty services out, thus the retail market is relatively mature, which becomes one of the most important markets in America,” Miniso revealed in a recent press release.
“Miniso takes full account of Canada's geographical features and adopts the expansion strategy of 'from part to whole' -- establishing regional logistics centres in Vancouver and Toronto, and opening stores centring on them.”
At the end of 2017, Miniso had opened 12 stores in Vancouver, with all of these located in shopping squares, commercial centres and busy districts. This store count is expected to reach 30 in 2018.
Focusing on cosmetics and household goods, Miniso now has branches in Ontario, Alberta and Quebec. Adopting a unique approach to product packaging, Miniso pays high attention to product selection and design and marketing as part of its core strategy.
Along with offering cost-effective goods, it will showcase high quality and fashionable design.