Japan's Miniso readies Vietnam entry
The new Japanese chain store Miniso is set to open its first three outlets in Vietnam this August, reported local news website VnExpress.
Seller of quality affordable fashion and lifestyle products, Miniso will open three stores in Hanoi. By 2021, the Southeast Asian nation will be home to 200 Miniso stores, according to Le Thi Ngoc Hai, chairwoman of Le Bao Minh Group, which bought the franchise.
"In August, we will open the first three stores in Hanoi and the number will double after a month. At the end of this year we will have 13 stores in Hanoi, Ho Chi Minh City, Da Nang, Vinh, Can Tho and Hai Phong," she said.
More than 10,000 products - fashion accessories, cosmetics and home decorations - will be sold at Miniso stores in Vietnam with prices starting from VND43,000 (US$1.93), she said.
Launching in 2013, Miniso has more than 1,110 stores in China, 25 in Hong Kong and four each in Macau and Japan.
The Dubai store is currently under construction with plans to expand into Malaysia, South Korea, the United States and Italy.
The company has increased its revenue five-fold in the past three years and reported a revenue of US$1 billion last year.
Le Bao Minh Group is best known as the exclusive distributor of Japan's Canon with more than 230 stores around Vietnam.
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