Discount retail chain Miniso has opened three new stores on a single day in Vietnam’s capital city, Hanoi.
The fast-growing Chinese company which has trades on Japanese-style branding, has opened two stores in the central areas of Hang Ngang and Thai Ha St, the third one is at Indochina Plaza.
By opening three stores on the same day, Miniso Vietnam has received great attention from locals. Stores were crowded until midnight and had to extend their business hours to 2 am. Sales revenue of the Hang Ngang St store exceeded US$10,000 within the first hour. According to incomplete statistics, Miniso Vietnam has achieved the highest first day sales of any market.
As the most rapidly expanding real retail brand in the world, Miniso has opened more than 1400 stores within three years. Global revenue topped $1 billion in 2015. Opening stores in Vietnam is not only a significant step for Miniso to develop further in the Asian-Pacific market, but also shows its support for the national initiative of “the Belt and Road”, the company said in a statement, indicating Miniso’s determination to lead China’s retail industry in conquering the global market.
Miniso is expected to open 300 stores in Vietnam within one year. Together with the countries and regions where Miniso has set up stores before, the brand will expand to comprehensively cover Southeast Asia so that consumers around the world can experience the products being made in China with “high-quality, creativity and low-price,” as well as the happiness of stress-free shopping.
Miyake Jyunya, chief designer and global co-founder of Miniso, and Ye Guofu, global co-founder of Miniso, together with Le Thi Ngoc Hai and Duong Thanh Tam, representatives of Vietnam, were present at the opening ceremony.