Global lifestyle brand MINISO opened three new stores in Hong Kong, including its current biggest store in the city at TKO Plaza, marking another milestone in its ongoing expansion.
The store at TKO Plaza, including the new Ma On Shan Plaza and Yuen Long Castle Peak Road locations, brings the brand’s upgraded shopping experience and fun, affordable, useful products to an even larger audience.
As part of MINISO’s brand upgrade, the new stores all feature an upgraded layout. Characterised by a clean and modern design, along with various distinct zones, these stores also emphasise popular product categories, including fragrances, blind boxes, plush toys and electrical appliances, all of which are top-performing categories for MINISO in the Hong Kong market.
Each of the three new stores also houses an exclusive IP zone, showcasing MINISO’s exciting array of co-branded products developed in collaboration with some of the world’s leading names, such as Barbie, Disney Toy Story, Snoopy, and more.
As part of its strategic category optimisation, MINISO will continue to attach great importance to IP products, with Pokémon, Mikko, Dundun Chicken, and other IP product ranges set to launch in the coming months.
MINISO’s new store openings come amidst the backdrop of strong financial performance from the 2023 fiscal year, which ended June 30.
The brand achieved global revenue of US$1,582.2 million, a 14% year-over-year increase, while overseas revenue for the year totalled US$521.7 million, a year-over-year increase of 45%.
MINISO’s rapid expansion also continued during the fiscal year, with the opening of 214 new overseas stores, bringing the total number to 2,187 overseas and 5,791 globally.
Bella Tu, Vice president and General Manager of MINISO Overseas Operations, said, “Our outstanding results from the 2023 fiscal year were fuelled partly by our ongoing expansion overseas and continuously refined store model.”
“Significantly, we achieved breakthroughs in both revenue and profitability during the June quarter. These three new stores in our directly operated Hong Kong market offer a further boost to our overseas expansion, and another step on our journey to making MINISO a global lifestyle super-brand,” she explained.
MINISO currently has stores in Hong Kong from Hong Kong Island, Kowloon, to New Territories East and West.
As one of its important strategic markets in Asia, the brand hopes to reach a total of 100 stores in the city within the next few years, with the opening of the TKO Plaza store marking a new beginning.
New stores will include more high-potential locations, larger stores, and more IP-themed stores, such as the Sanrio-themed and Disney Pixar Food Collection-themed stores recently opened in other Asian markets.
In doing so, MINISO aims to consistently bring new surprises to consumers every year, convey the brand’s ‘joy philosophy’, and bring more high-quality lifestyle products, and more joy, to Hong Kong consumers.
The post MINISO opens new stores as part of ongoing global expansion in Hong Kong first appeared on CXP – Customer Experience Asia.