Miniso, Japanese Retailer Targets Additional 200 Stores in Nigeria
Japanese retail giant, Miniso has disclosed plan to aggressively increase the number of its shopping stores in Nigeria by an additional 200 before the end of next year.
The Managing Director of Miniso Nigeria, Mrs. Key Yang, said this during an interview with journalists in Lagos at the weekend.
According to Yang, the lifestyle designer retail brand which was founded in 2013, by two notable gentlemen - Japanese Designer, Mr. Miyake Junya and a young Chinese Entrepreneur, Mr. Ye Guofu in Tokyo - specializes in household and consumer goods.
“It is the fastest growing fashion brand on a large global scale, with its product focus mainly in leisure lifestyle, which include creative homeware, health and beauty, fashion accessories, digital accessories, stationery and gifts, unique toys series, seasonal products, Kitchenware, etc.
“Miniso has made a name for itself worldwide and has beaten all odds with an average monthly growth rate of 80 - 100 stores across countries including the United States, Canada, Russia, Singapore, the United Arab Emirates, Korea, Malaysia, Kazakhstan, Australia and Many more and all this has been achieved within a 5-year mark,” Yang added.
She pointed out that aside the unique shopping experience, Miniso was committed to employing about 8,000 Nigerians.
Furthermore, she disclosed that by 2020, the company would start procuring most of its raw materials locally.
Also speaking, the company’s Franchise and Investment Manager, Jason Zhou, noted that since its creation, Miniso has actively explored the international market and has opened more than 2,900 stores in over 60 countries over the years.
He said the retailer was also in the process of opening stores in 20 more countries.
Miniso’s business turnover stands at $1.5 billion in 2016 and nearly $1.9 billion in 2017.
“The flagship store in Nigeria was opened on the 10th of September 2017 in Lekki, Lagos. Eleven stores have since been opened across Nigeria in Ikeja City Mall; Palms Mall, Victoria Island; Novare Mall, Sango-tedo; Maryland Mall; Festival Mall, Festac; MMA2 (Departure Lounge); Jericho Mall, Ibadan; Palms Mall, Ibadan; Apo Mall, Abuja; Jabi Lake Mall, Abuja and Gateway Mall in Abuja between September 2017 and March 2018.
“Four other stores are set to open at Surulere, Lagos; Abuja and Port Harcourt. By the end of 2018, MINISO would have successfully reached the south-eastern states of Nigeria as documentation processes are being concluded for over 10 stores.”
He stressed that Miniso re- mains one of the most profitable businesses in Nigeria that yields returns on investment between 10 - 18months. According to him, the process of investing in Miniso was simple, transparent and hassle-free. “We have two investment models, known as: the franchising model and the agent model. The franchise model requires you to simply secure a store size of around 200M2 at any choice location, shopping mall or high street.