Miniso

from Wikipedia, the free encyclopedia
Miniso

logo
legal form Corporation
founding 2011
Seat Guangzhou, China
sales $ 1.5 billion
Branch retail trade
Website www.miniso.com
Status: 2016

Sydney branch

Miniso ( proper spelling : MINISO , Chinese  名 创优 品 , Pinyin Míng chuàng yōu pǐn , Japanese メ イ ソ ウ Meisou ) is a Chinese retail company specializing in household items and consumer goods , including cosmetics , stationery , toys and kitchen utensils . The company was founded in 2011 by Japanese designer Miyake Junya and Chinese entrepreneur Ye Guofu and is headquartered in Guangzhou, China, as part of the Chinese company Aiyaya. In 2016, Miniso had sales of $ 1.5 billion, compared to $ 769.9 million in the previous year.

Miniso has been criticized for having an aesthetic resemblance to Japanese variety stores and for being a Chinese retailer that markets itself as Japanese. Miniso is also active outside the Chinese market. The company operates 1,800 stores on every continent. Miniso intends to open a total of 6,000 stores worldwide.

history

A shop in Nanjing, China . The logo above the entrance includes the company's name in both Latin and Chinese script (名 創優 品) as well as katakana in Japanese script (メ イ ソ ウ).

Miniso was founded in 2011 by the Japanese designer Miyake Junya (三 宅 順 也), a graduate of the Bunka Fukusō Gakuin fashion school in Shinjuku, Tokyo , and the Chinese entrepreneur Ye Guofu (葉国富). Initially, Miniso claimed to be a well-known Japanese brand, although it mainly operates in China as part of the Chinese company Aiyaya. Since then, it has expanded outside of China, opening more than 1,000 stores worldwide.

In January 2017, Miniso announced that it was aiming to enter the North Korean market. Four months later, a shop opened in Pyongyang . According to the Economist , the business was popular with wealthy North Koreans but only accepted foreign currency, including the US dollar , Chinese yuan and euro . Shortly after the opening, the Japanese branch fell for breach of Resolution 2321 of the UN Security Council under pressure which bans trade with North Korea. The latter distanced itself from this measure and made the Chinese office responsible for the decision. As a result of the controversy, Miniso promised to stop shipping products to North Korea and the Pyongyang store was renamed "Evolution".

Expansions and locations

Miniso was initially only present in retail in China and the majority of its branches are still located there today. It has a strong expansion plan in countries associated with China's " One Belt, One Road " economic policy . It began its expansion in Asia with four branches in Japan , followed by branch openings in Taiwan , Hong Kong , Macau , India , Pakistan , Mongolia , South Korea , North Korea , Malaysia , Singapore , Vietnam , Sri Lanka , the Philippines and Bangladesh . Sales at a store in Vietnam on the day it opened exceeded $ 10,000 in an hour. Miniso's Pyongyang store was significant as the first and only overseas retail store in North Korea. In early 2017, the company opened branches in Australia .

In North America, Miniso has several stores in Canada , the United States and Mexico . On August 6, 2016, Miniso signed a comprehensive cooperation agreement with a US partner to expand its retail activities in the US . The first store in the US opened in Pasadena in April 2017 .

In South America, Miniso opened its first store in Brazil in August 2017 and a second in Chile in December 2017 . It plans to enter the Argentine market soon . In Colombia, the company is starting two stores in the city of Bogotá and plans to open the country's first 15 stores by December 2018. In Africa, it opened its first branch in South Africa in August 2017, followed by Nigeria a month later.

In November 2017, Miniso opened its first European branch in the Mall of Berlin . Further branches followed, including in Spain , Great Britain , Italy and Russia . In December 2017, the company opened its second German branch in the Alexa shopping center in Berlin .

marketing

According to Miniso, its name is derived from "mini", based on the Japanese minimarts. The color red was chosen as the main color because it is seen as auspicious and auspicious in Asian cultures.

Miniso's marketing strategy has been compared to that of Japanese retailers such as Muji , Daiso and Uniqlo because of similarities in store layout, brand design and goods offered . Because of its Japanese-influenced branding strategy, the products have been criticized as "Made in China to Look Japanese", especially because many of the stores are in China, where many people trust Japanese brands more than local suppliers. It has also been criticized for putting grammatically incorrect labels in Japanese on many products. This was a consequence of using Baidu Translate to produce text in the Japanese language, Miniso management admitted.

Nonetheless, AllianceBernstein, an international wealth management company, called Miniso's marketing strategy a success because it "filled a niche in pricing policies that ignored the Japanese formats it was imitating" for its success in growing the number of stores .

Web links

Individual evidence

  1. ↑ a b c Is Miniso a Japan-based chain store? Macau Daily Times, January 26, 2016, accessed January 3, 2017 .
  2. ↑ メ イ ソ ウ 名 創優 品 創設 者. (No longer available online.) In: miniso.jp. Archived from the original on January 7, 2015 ; Retrieved March 1, 2018 (Japanese). Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / miniso.jp
  3. ↑ a b c MINISO going places despite Muji copycat charge. In: Hong Kong Economic Journal. June 10, 2016, accessed January 3, 2017 .
  4. ↑ a b c d A trendy Asian lifestyle chain opens in North Korea. June 22, 2017, accessed on August 21, 2017 .
  5. ↑ Miniso stores set global retail record. Inside Retail Singapore, March 30, 2016, accessed January 3, 2017 .
  6. ↑ a b c d Stores around the world. (No longer available online.) Miniso, archived from the original on March 9, 2015 ; accessed on January 3, 2017 (English). Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.minisohome.com
  7. ↑ a b Joy Fang: How Miniso wants to conquer the world one store at a time. Today Online, December 16, 2015, accessed January 3, 2017 .
  8. ↑ a b c Alyssa Woo: Miniso is Japanese, say founders. Strait Times, January 14, 2016, accessed January 3, 2017 .
  9. ↑ a b c Emerging Market Game Changers: From Copycats To Top Dogs. ValueWalk, September 16, 2016, accessed January 3, 2017 .
  10. ↑ Kosuke Takahashi: Miniso shop in Pyongyang could breach UNSC resolutions: Japanese expert. NK News, June 16, 2017, accessed November 8, 2017 .
  11. ↑ Chad O'Carrol: Pyongyang's “Miniso” store rebrands amid increased scrutiny. August 21, 2017, accessed November 8, 2017 .
  12. ^ Visen Liu: This Muji-like Chinese chain is expanding in the US and North Korea. Quartz , June 28, 2017, accessed November 8, 2017 .
  13. ↑ Miniso PR: Spectacular Scene of MINISO's Three Stores Opened in Vietnam. PR Newswire, September 28, 2016, accessed January 3, 2017 .
  14. ↑ Carolyn Cummins: Miniso the latest retailer to disrupt the Australian market. Sydney Morning Herald , February 17, 2017, accessed November 8, 2017 .
  15. ↑ Prajakta Dhopade: How Miniso might just be a Dollarama disruptor in Canada. Maclean's, November 18, 2017, accessed November 30, 2017 .
  16. ↑ Rosalía Lara: La japonesa Miniso estima abrir 150 tiendas en México. Expansión, March 6, 2017, accessed November 8, 2017 (Spanish).
  17. ↑ MINISO Signs Comprehensive Strategic Cooperation with US Representative to Enter American Retail Market. PR Newswire, September 1, 2016, accessed January 3, 2017 .
  18. ↑ Miniso Japan to Open First US Store in Pasadena. Pasadena Now, April 5, 2017, accessed November 8, 2017 .
  19. ↑ Miniso, maior rival da Daiso, abre primeira loja no Brasil. Veja, August 31, 2017, accessed November 8, 2017 (Portuguese).
  20. ↑ https://www.dinero.com/empresas/articulo/tiendas-de-miniso-llegan-a-colombia-en-2018/261398
  21. ↑ Gabriella Steyn: Japenese Fashion and retail brand MINISO takes on SA. August 8, 2017, accessed November 8, 2017 .
  22. ↑ MINISO to open new shops in Nigeria. Vanguard, August 30, 2017, accessed November 8, 2017 .
  23. ↑ Annika Müller: Mall of Berlin: Miniso starts for the first time in Europe. TextilWirtschaft, October 9, 2017, accessed on March 1, 2018 .
  24. ↑ ALEXA press office: Japanese lifestyle brand with smart products - Miniso opens second German store in ALEXA. In: Konii.de. November 30, 2017, accessed March 1, 2018 .
  25. ↑ 被指 抄襲 名 創優 品 ： 「首席 設計師 是 日本人」. HKET, July 6, 2015, accessed January 3, 2017 (Chinese).
  26. ↑ Kaori Fukushima: 「山寨 式」 商法 の 勝利. (No longer available online.) Nikkei, May 7, 2014, archived from the original on June 24, 2018 ; Retrieved January 3, 2017 (Japanese). Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / business.nikkeibp.co.jp
  27. ↑ Atsushi Tomiyama: Japanese disguise helps sell 'Made in China' in Vietnam. Nikkei Asian Review, October 17, 2016, accessed January 3, 2017 .