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Japan retail giant Miniso to open 300 stores in Australia





  • 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 

By Belinda Cleary For Daily Mail Australia

Published: 05:33 EST, 17 February 2017 | Updated: 05:43 EST, 17 February 2017

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 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

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

Miniso already has three stores in Sydney: Chatswood, Hurstville and Bondi Junction. 

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.

Lawrence Brown, the managing director of Complete Retail Services told The Age brands like Dotti, Supre and Valley Girl will feel the heat from the new arrival because the store is aimed at women aged between 18 and 30.

The company will open in malls in Sydney as they need 'flow through' foot traffic - but will consider street-front locations in markets like Melbourne.

They sell cosmetics, accessories, homewares and fashion and according to their website are already grossing AUD1billion per year They sell cosmetics, accessories, homewares and fashion and according to their website are already grossing AUD1billion per year

They sell cosmetics, accessories, homewares and fashion and according to their website are already grossing AUD1billion per year

The group is planning to have 6000 stores world-wide by 2020 The group is planning to have 6000 stores world-wide by 2020

The group is planning to have 6000 stores world-wide by 2020

'Given the current turnovers I believe that this concept will continue to thrive. There are some 300 new items every month that will appear in the stores and really at a great price point,' Mr Brown said.

'The mix caters for all genders and age groups, and I do believe that by 2020, we will be Australia-wide. And as a group they are planning 6000 stores worldwide.'

By 2018, the stores will already be well-established in Sydney and Melbourne, according to the expert, who says once that happens they will expand to Queensland. 

They will 'cover the whole country eventually' according to Mr Brown. Stores are also opening in America, on average world-wide the company opens between 80 and 100 stores per month.

Stores are also opening in America, on average world-wide the company opens between 80 and 100 stores per month Stores are also opening in America, on average world-wide the company opens between 80 and 100 stores per month

Stores are also opening in America, on average world-wide the company opens between 80 and 100 stores per month

 

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About Article Author

Larry Whyte
Larry Whyte

He is a leading authority on business trends including ‘big data’, self-employment and the social media revolution. He’s the author of the award-winning book, Marketing Shortcuts for the Self-Employed (2011, Wiley) and a regular speaker for Bloomberg TV. He has spoken about global mega trends, big data and the social media revolution at conferences and business events around the world .

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