Chinese discount-variety store Miniso has opened its first store in Paris, just days after its successful stock-exchange listing in New York.
Two more stores are planned for France this year and more next year as Miniso continues to expand its European footprint.
The retailer’s French master franchisee is retail businessman Jonathan Siboni, president of Luxurynsight, who says it was “love at first sight” when he first saw the concept at last year’s Maison & Objet Fair.
“From the start, [Miniso founder] Ye Guofu’s vision has been generous and consistent, with an accent on customer experience. We have solid evidence that only being a visionary in retail can lead to also becoming a giant in digital. I was set on bringing this popular brand to the French market the moment I saw their stylish yet affordable products together with their advanced store management, and even more so determined after visiting dozens of Miniso stores throughout Europe.”
Miniso France will offer around 2000 low-priced goods including homewares, health and beauty products, accessories, office supplies, gifts and some food and seasonal lines.
The first Miniso Paris store is located on 58 Rue de la Chaussee-d’Antin, within walking distance of the city’s luxury stores. More than 80 per cent of items on sale are priced less than 10 euros.
Edward Zhu, Miniso regional director, described France as one of the most important and influential markets not only in Europe, but worldwide.
“Through our close collaboration with Mr Siboni and his team, we plan to open two other stores in Paris by the end of this year. We are confident that French consumers will increasingly fall in love with the thousands of affordable, quality products that Miniso has to offer.”