The Chinese discount variety store has unveiled their new ‘X Strategy’ business plan that will see the brand launch a number of new concepts this year to diversify its offering.
The brand will particularly focus on branching out into the toy market this year with ‘Art Toy’ as a new strategic product category. This move comes following the introduction of their sub-brand TopToy which launched last year with nine new stores.
China will continue to be a key market for the brand, with Miniso commenting that it will expand its footprint both digitally and physically, with a key focus on Tier 3 cities and rural areas for new store openings. As part of its new digitalisation strategy, Miniso will launch self-owned online stores, WeChat mini-programmes and flagship stores on a number of key e-commerce platforms.
Robin Liu, Chief Marketing Officer of Miniso, commented: “Covid-19 is a catalyst that has accelerated our digital transformation and embrace of online channels. We will keep broadening our online sales channels.”
