PARIS, June 26, 2024 /PRNewswire/ -- MINISO, the global
lifestyle brand known for its fun, affordable, design-led products,
celebrated the grand opening of its brand-new flagship store in
Paris on Saturday, June 22nd. The prime
location, situated at 104 Avenue des Champs-Elysées, places MINISO
right in the heart of the city's most iconic shopping district,
nestled among the world's most famous luxury brands and just
steps away from the Arc de Triomphe. The grand opening created a
buzz in the city, and the store even achieved a new MINISO record
for single-day sales outside of mainland China.
The Paris flagship, which
is MINISO's largest store in Europe, marks a significant milestone for
MINISO's ongoing global expansion, aligning perfectly with the
brand's ambitious "Super Store" strategy. This strategic approach
focuses on establishing large-format stores in key, high-traffic
areas. These "Super Stores" offer customers a truly immersive
MINISO experience, showcasing the brand's extensive product range
across categories like household goods, cosmetics, stationery, and
more. The new flagship, which sprawls across two floors and over
8,600ft2, particularly highlights MINISO's IP
collaboration collections - one of the brand's key strategic
product categories - with design elements and store zones dedicated
to Sanrio, Disney, Barbie and others. The store will also be the
first in France to debut the new
BT21 IP collection.
The new opening comes on the back of strong financial
performance for the brand in the March quarter of 2024. The brand's
total global revenue grew 26% YoY to US$515.7 million, while revenue generated from
overseas markets surged by 52.6% YoY to US$169.2 million. This impressive
performance reflects the relevance and resilience of the brand's
business model and the universal appeal of its products.
"The new flagship store in Paris is another exciting step forward for
MINISO," said Vincent Huang, general
manager of MINISO overseas distributor markets and vice president.
"Following the successful launch of Super Stores in Times Square
and Oxford Street, this prestigious Parisian location further
solidifies our commitment to the 'Super Store' strategy and its
role in elevating the customer experience and propelling our global
brand recognition."
MINISO's "Super Store" strategy goes beyond simply offering a
wider product selection. These larger stores create a more engaging
and interactive shopping environment, fostering a sense of
discovery and excitement for customers. This emphasis on
experience, combined with the brand's dedication to high-quality
products at affordable prices, is a key driver of MINISO's success
in international markets.
With the addition of the Paris
flagship, MINISO now boasts a presence in 110 overseas (outside
mainland China) markets, with
6,630 stores worldwide. The brand's long-term vision is to become a
global super brand, and it plans to achieve this by establishing
900 - 1,100 new stores globally in 2024, with over 50% of the new
stores to be located overseas. This strategic expansion will
solidify MINISO's position as a leading lifestyle destination for
consumers around the world.
About MINISO
MINISO Group is a global lifestyle brand offering a variety of
trendy lifestyle products featuring IP design. The Company serves
consumers primarily through its large network of MINISO stores and
promotes a relaxing, treasure-hunting, and engaging shopping
experience full of delightful surprises that appeal to all
demographics. Aesthetically pleasing design, quality, and
affordability are at the core of every product in MINISO's wide
product portfolio, and the Company continually and frequently rolls
out products with these qualities. Since the opening of its first
store in China in 2013, the Company has built its
flagship brand "MINISO" as a globally recognized retail brand and
established a massive store network worldwide.
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