Miniso signs up to enter US
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China’s fast-fashion designer brand Miniso has signed a comprehensive strategic co-operation agreement to enter the US.
A signing ceremony in Guangzhou was attended by Miniso global co-founder Ye Guofu and Asia Pacific VP Li Minxin as well as a representative from Miniso’s US partner, Matthew Liang.
Miniso has opened 1400 stores internationally in the past three years, with its global revenue hitting RMB5 billion (US$750 million) last year.
After focusing on markets in China and Japan, Miniso has successively signed strategic co-operation agreements with 36 other countries and regions.
Ye says Miniso and its US partner will further co-operate in areas such as product research and development, model updating and talent training.
Questions & Answers
Q.What is the primary purpose of Miniso's agreement for the US market?
What is the primary purpose of Miniso's agreement for the US market?
Miniso and its US partner will work together on product research and development, updating their business model, and training staff. This is part of a comprehensive strategic co-operation agreement.
Q.Which regions has Miniso focused on before this US expansion?
Which regions has Miniso focused on before this US expansion?
Miniso primarily concentrated on markets in China and Japan prior to signing this agreement. They have also entered into strategic agreements with 36 other countries and regions.
Q.How many international stores has Miniso opened in recent years?
How many international stores has Miniso opened in recent years?
In the past three years, Miniso has successfully opened 1400 stores across various international locations. Last year, the company's global revenue reached RMB5 billion.
Q.Who attended the signing ceremony for the US agreement?
Who attended the signing ceremony for the US agreement?
Miniso global co-founder Ye Guofu and Asia Pacific VP Li Minxin were present at the signing. Matthew Liang, representing Miniso's US partner, also attended the ceremony in Guangzhou.
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