• Miniso is looking to open 300 stores in Australia over the next three years
  • The retail giant opened 1800 stores in its first three years of operation
  • Now it has plans to expand to up to 40 countries and wants 6000 stores 
  • Experts warn the business could have a negative impact on other businesses 

 

A Japanese retail giant has Australia’s market in its sights and experts warn the fast-spreading highly successful business could cause local companies to close.

The company is Miniso – it was established in 2013 in Tokyo with stores soon popping up in China.

Now the company, headquartered in Guangzhou, China, has been approved to set up shop in more than 40 countries.

In three years, 1,800 stores were opened by the chain, which was founded by Japanese designer Junya Miyake and Chinese entrepreneur Ye Guo Fu.

A Japanese retail giant has Australia’s market in its sights and experts warn the fast-spreading highly successful business could cause local companies to close

They sell cosmetics, accessories, homewares and fashion and according to their website are already grossing AUD1billion per year – with plans to earn more than AUD11.7billion by 2020.

Source:  http://www.dailymail.co.uk/news/article-4234120/Japanese-retail-giant-open-300-stores-Australia.html