, China
247 views

MINISO bags two major accolades at Retail Asia Awards 2023

The ‘International Retailer of the Year’ and ‘Store Design of the Year’ (Small) were presented to the global lifestyle retailer, cementing its position as an on-trend lifestyle retailer offering high-quality goods featuring IP collaborations and originals.

Founded in 2013 by Chinese entrepreneur Ye Guofu, MINISO is revolutionising the global retail industry with its affordable yet high-quality lifestyle products. Guided by its brand slogan "life is for fun," MINISO offers a diverse range of items, including IP collections, blind boxes, plushies, fragrances, home essentials, and more. Through its partnerships with over 80 popular IPs, such as Disney, Sanrio, and Toy Story, MINISO has successfully developed numerous licensed products, establishing an emotional connection with consumers and engaging young people. 

MINISO's global reach is also impressive. Having entered 107 countries and regions and with over 5,500 stores worldwide, MINISO has become a household name that provides a delightful shopping experience full of surprises for all demographics.

“Everything towards overseas” is the brand’s new global strategy in 2023. The brand is rapidly expanding its presence outside mainland China, boasting over 2,100 stores, which accounts for nearly 40% of its total store count. Notably, in May 2023, MINISO celebrated a milestone with the opening of its new global flagship store in New York Times Square. With remarkable sales performance and consistent growth, MINISO's overseas business contributed significantly to the company's profit in 2022, representing a substantial 35% share. 

The brand recently celebrated its 10th anniversary, marking a new chapter with its transformation into a lifestyle super brand. This transformation includes upgrades to the brand’s image, storefronts, platform and shopping experience. MINISO also plans to establish brand-new design centres in China, the United States, South Korea, and Japan to provide more professional designs to different markets. Its dedication to growth and innovation ensures that it will continue to expand its global distribution and venture into more high-potential commercial districts, bringing even more joy to the world in the years to come.

With MINISO’s commitment to integrating more than 1,100 high-quality supply chain partners in China and partnering with top analytical organisations for global and consumer trends, such as WGSN and Pantone, these centres will help with its global development and create popular lifestyle products featuring designs that are appreciated by consumers worldwide.

At the forefront of MINISO's new strategy is the recently launched premium flagship store in Chengdu, China, signifying the start of the company's move to make its name in urban shopping districts and premium shopping centres.

Spanning around 1,000 square meters over three levels, the Chengdu flagship store incorporates the retailer’s new “Wink” symbol throughout its design. Besides the eye-catching wink logo affixed to the wall and the logo that harmoniously blends into the colourful “bean wall”, dozens of wink ball installations hang from the ceiling to further enhance the store’s delightful atmosphere.

The highlight of the store is the brand-new Fragrance Museum, showcasing all of MINISO's top-selling fragrance products. The museum features several sections of alluring fragrance products, including the recently unveiled Master Fragrance Room, and other collaborations with the world-renowned perfume company, Firmenich.

Recently, MINISO put scented products as their strategic product. The data shows that from 2019 to 2021, the sales of MINISO’s scented products grew by 26.9%. The cumulative sales of the company’s scented products have already exceeded 70 million bottles, ranking first in the country.

But the Chengdu flagship store is more than just a place to shop, it's an immersive experience that engages customers in every sense. Customers can touch, smell, and hear products through elaborate decorations and arrangements, creating a joyful shopping experience that is truly unique.

With its "Joy Philosophy" guiding its every move, MINISO is ready to adapt to changing market trends and customer feedback to continue providing engaging and joyful shopping experiences for years to come.

 

The Retail Asia Awards is presented by Retail Asia Magazine. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for your company's exceptional products or initiatives in the retail industry, please contact Jane Patiag at [email protected].

Follow the link for more news on

Join Retail Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!