MINISO completes one year in India; achieves Rs 700 crore revenue
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Japanese retail brand MINISO has completed one year of operation in India and achieved its annual target of Rs 700 crore revenue for 2017-18.
The brand, which was launched in August 2017, at present operates 26 stores in India – 21 in Delhi/NCR, three in Mumbai, one in Bengaluru and two in Lucknow.
It plans to take its store count to 800 by 2019 by increasing its spread in existing cities and entering new cities across the country.
MINISO India plans to expand its business by increasing its footprint across the country. The company aims to open 200 stores by this year end and hopes to increase it to 800 by the year 2019, the company said in a statement.
“India is one of the top five markets in terms of revenue for MINISO. To expand our presence in India, we have initiated our franchise model and have already started five franchise stores in India,” Miyake Junya, Global Chief Designer and Co–Founder, MINISO said.
“MINISO India has extensive plans to start operations in Chennai, Kolkata, Hyderabad and Jaipur while tapping into Tier II and III markets. This rapid expansion will be done through company-owned model and through franchise partners as well,” the company added.
Questions & Answers
Q.What is MINISO's revenue target for its first year of operation in India?
What is MINISO's revenue target for its first year of operation in India?
MINISO achieved its annual target of Rs 700 crore revenue for 2017-18. This was completed within one year of the Japanese retail brand launching operations in India.
Q.How many MINISO stores are currently operating in India and where are they located?
How many MINISO stores are currently operating in India and where are they located?
MINISO currently operates 26 stores in India. Twenty-one are in Delhi/NCR, three in Mumbai, one in Bengaluru, and two in Lucknow. The brand launched in August 2017.
Q.What are MINISO's expansion plans for its store count in India by 2019?
What are MINISO's expansion plans for its store count in India by 2019?
MINISO plans to open 200 stores by the end of this year, and aims to increase its store count to 800 by 2019. This expansion will include new cities and existing locations.
Q.Which new Indian cities does MINISO plan to enter as part of its expansion?
Which new Indian cities does MINISO plan to enter as part of its expansion?
MINISO India has extensive plans to start operations in Chennai, Kolkata, Hyderabad, and Jaipur. They also aim to tap into Tier II and III markets, using both company-owned and franchise models.