Global lifestyle brand MINISO has unveiled over 20 new stores in the United States in recent months, as the Company continues its robust expansion in the world's largest economy with presence in more than 20 states.
In an effort to offer fun and functional lifestyle products to more customers, MINISO has entered 10 new states so far this year—Michigan, Oregon, South Carolina, Arizona, Connecticut, Louisiana, Maine, Georgia, Indiana, Oklahoma.
Specifically, the brand successfully opened five new stores in October alone, with one of them located in Castleton Square Mall, the largest shopping center in Indiana. This marked MINISO's inaugural store in Indiana, boasting an area of approximately 3,500 square feet.
Tyrone Li, General Manager of MINISO USA, expressed significance about the recent expansion. "We are excited to see MINISO's rapid growth in the United States, with new stores strategically placed in key states. Our goal is to make MINISO products easily accessible to consumers across the nation, offering them the trendy and high-quality lifestyle goods that our brand is known for."
In the central region in the U.S., MINISO opened its first stores in Louisiana at the Mall of Louisiana in Baton Rouge, and in Michigan at the Great Lakes Crossing, the state's largest indoor outlet shopping center and entertainment venue.
In addition to the recent openings, MINISO continues to strengthen its presence in key shopping destinations, including securing prime retail spaces in the Fashion Show in Nevada and Northridge Fashion Center in California. Notably, the retail space in the Fashion Show, which is known as one of the largest shopping malls in the U.S, spans nearly 3,000 square feet.
Meanwhile, MINISO plans to further expand its footprint before year end by entering two new states: North Carolina, and New Hampshire. These strategic locations continue MINISO's trend of selecting major areas, such as shopping malls, business districts, transportation hubs and community centers, as the Company has been making efforts to enhance brand visibility and attract a diverse customer base.
"Our store expansion aligns with our dedication to bringing MINISO's trendy and enjoyable products to a wider audience of American consumers," Li said, emphasizing MINISO's goal to offer aesthetically pleasing and functional products.
As of June 2023, MINISO operates around 5,800 stores worldwide, with over 2,200 stores located overseas. The Company remains dedicated to maintaining a steady pace of expansion. In the U.S., MINISO has already established a presence in over 20 states, with more than 40 stores in California alone. While the focus remains on the East and West coasts, the Company plans to further expand into new regions.
The U.S. has become an important directly operated market for MINISO. As we know, the GMV per store in the U.S. has nearly doubled compared to pre-COVID levels. The brand has consistently set new sales records since the grand opening of its global flagship store at Times Square in New York in May.
Looking ahead, MINISO plans to open at least 15 more stores in the U.S. by the end of the year and push ahead with its brand upgrade strategy. For example, the Company this year introduced the concepts of "Super Store," "Super IP," and "Super Product." The global flagship store at Times Square in New York has played a pivotal role in showcasing these initiatives and achieved outstanding performance. As part of the strategy, MINISO has rolled out products featuring popular IPs such as Barbie, Snoopy, Disney 100 and Sanrio.
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