The Chinese chain has accelerated its expansion plan during the pandemic, opening 364 stores around the world during the past 12 months.
This accelerated expansion has meant Miniso’s overall store number has jumped to 4,587 in China and 94 in overseas markets. These new openings have also meant that the retailer has also expanded into new global markets, including Iceland, Malta, New Caledonia and the Canary Islands.
“We will continue to make efforts in overseas markets, not only to further develop new markets and existing markets, but also to further localise,” said Vincent Huang, VP of International Business at Miniso.
During Q3 2021, Miniso generated $340.3M in revenue, increasing 37 per cent year on year. Its e-commerce sector accounted for $26.1M in revenue, increasing 86 per cent year on year, while the O2O business contributed nearly $10.7M in revenue, accounting for 3.1 per cent of sales.
“Online business has been accelerated by the pandemic and will be one of the priorities for the future development of Miniso,” said Robin Liu, Chief Marketing Officer and Head of E-Commerce at Miniso.
