Shanghai, June 24th (Xinhua Finance and Economics) - Miniso announced on June 24th that its flagship store recently made its debut on the Champs - É lys é es in Paris, France. After becoming the first Chinese brand to enter Times Square in New York in May last year, Miniso has once again entered the world's top business districts, further unleashing the potential for "interest consumption" overseas. On the first day of opening, the flagship store of MINISO France's Champs - É lys é es achieved a performance of 576800 RMB, once again breaking the overseas single day performance record.
Ye Guofu, Chairman of the Board and CEO of Miniso, stated that becoming a "super brand" must occupy the world's highlands, and the prime location of Paris Fragrant Street is the best showcase window for "super brands". The "Super Store" created by Miniso in the Fragrant Street of Paris this time is its largest store in France and even Europe, and has become an important part of Miniso's entry into the European market.
In recent years, Miniso has successively entered well-known business districts worldwide, and the performance of its overseas stores has become an important engine for its overseas market growth. In May 2023, Miniso opened its first global flagship store in Times Square, New York, USA, with a monthly revenue of nearly ten million yuan, setting a new record for global store monthly revenue. In November 2023, Miniso UK flagship store landed on Oxford Street in London, and on its first day of operation, its performance broke the record for European stores; In the first quarter of this year, Miniso opened copyright (IP) stores in the core business districts of markets such as Malaysia and Vietnam, and continued to cultivate and refine.
Ye Guofu revealed that Miniso will also enter more world-class golden commercial districts in the future, improve average store efficiency by creating "super stores", maximize the value of offline store floor area, and continuously strengthen consumers' awareness of "super brands".
In October 2020, Miniso opened its first store in Paris. After settling on the Champs - É lys é es in Paris, Miniso will meet the consumption needs of the French market with its ultimate cost-effective IP trend products, driving new overseas IP trend consumption. Data shows that in the first quarter of this year, the sales proportion of MINISO's IP products reached 26%, and the proportion of overseas IPs increased significantly to over 40% year-on-year.
Currently, under the leadership of globalization strategy, Miniso's overseas market is showing strong growth momentum, especially in the European market. In 2023, the total transaction volume of Miniso in the European market increased by nearly 70% year-on-year; In the first quarter of 2024, the total transaction volume in the European market increased by over 80% year-on-year.
Ye Guofu stated that in the coming years, the European market will become a key point for Miniso's overseas development, with the goal of achieving a European store size of 1000 in 5 years.
As of the end of March 2024, Miniso has established a retail network of over 6600 stores in 111 countries and regions worldwide, including nearly 2600 overseas markets, accounting for more than one-third of the total, covering core business districts in globally renowned cities such as New York, Los Angeles, Paris, London, Dubai, Sydney, and Istanbul.