Established in Tokyo, MINISO, the Japanese fast fashion designer brand, was jointly founded by Miyake Jyunya, the chief designer of MINISO, and Ye Guofu, the Chinese young entrepreneur. MINISO advocates fashionable and relaxed lifestyle and directs a superior products consumption pattern.
MINISO pursues a "simple, natural and quality" life philosophy and a brand proposition of "simplicity and going back to the essence". It launches new products every seven days and the low-price but high quality products are popular among customers. MINISO positions itself as the fast fashion chain stores, whose core values gain popularity among consumers and lead the market to a new trend of "superior products consumption". MINISO Co., Ltd. has been operated since 2013. It established in China in September of the same year, expanding across China since then.
MINISO has been expanding globally since its establishment in 2013. It has opened more than 1,400 stores around the world within three years and its revenue hit USD 75 million in 2015, which is expected to reach USD 1.5 billion by 2016. MINISO is regarded as a fierce competitor by some well-known enterprises such as UNIQLO, MUJI and Watsons. It is also deemed as "the biggest enemy" by the Chinese Apple distributor. Currently, MINISO has signed strategic cooperation agreements with 40 countries and regions, including the U.S., Canada, Russia, Australia, Singapore, Dubai, Korea, Malaysia, Hong Kong (China), and Macao (China). On average, it opens 80 to 100 stores monthly and it is anticipated to open 6,000 stores all over the world by 2020, with a global revenue of USD 9 billion.