Miniso unveils major global expansion plans

Chinese retail lifestyle brand Miniso plans to extensively expand its global network by opening 900 to 1,100 stores per year in the coming five years as part of an ambitious brand development strategy, according to its top executive.

"Between 550 and 650 of the newly opened stores will be located overseas," said Ye Guofu, founder and CEO of Miniso, during an interview with China Daily in Shanghai recently.

According to Ye, the company has charted key targets in the five years between 2024 and 2028, including adding between 900 and 1,100 new stores across the world, reaching a compound annual growth rate of at least 20 percent in revenue, as well as having more than half of its annual GMV (gross merchandise value) by IP products.