While China and Kazakhstan are Establishing Strategic Cooperation Partnership, MINISO Signs the Agreement with Kazakhstan Successfully
On 3rd September, 2016, the second day when the Chinese President Xi Jinping granted an interview with Nazarbayev, President of Kazakhstan in the 11th G20 Summit in Hangzhou, MINISO, the international fast fashion designer brand actively responded to the call, building a comprehensive strategic partnership and signing the comprehensive strategic cooperation agreement with Kazakhstan during the 25th anniversary of diplomatic relations between China and Kazakhstan. Both parties paid high attention to this signing ceremony. Mr. Ye Guofu, the global co-founder of MINISO, and Mr. Li Minxin, the Vice President of MINISO Asian-Pacific, together with BakhadyrAnarmetov and Sergey Yugay, representatives of Kazakhstan, were present at the signing ceremony.
(Illustration: MINISO signs the comprehensive strategic cooperation agreement with Kazakhstan.)
As the most rapidly expanding real retail brand in the world recently, MINISO has opened 1,400 stores around the world within three years. Its global revenue hit USD 750 million in 2015 and is expected to grow to USD 1.5 billion by 2016. Since its foundation, MINISO has been popular among consumers due to its comfortable shopping environment, good and affordable products. After focusing on markets in Japan and China, MINISO has successively signed strategic cooperation agreements with 36 other counties and regions, including Singapore, Malaysia, Thailand, Dubai, Australia and Canada. MINISO has also set up its own perfume research institute, showing its internationalization level is improving increasingly. According to the statistics of economic department of Kazakhstan, the local retail trading volume decreased by 0.9% in the first half of 2016, among which the GDP increased by merely 0.1% over the previous year. On one hand, by signing the cooperation agreement with Kazakhstan, MINISO is expected to stimulate local consumption and boost local economy by providing good-quality products with affordable prices to people of Kazakhstan; on the other hand, MINISO aims to develop further in the Asian-Pacific region and lead the real retail industry to accelerate its process of globalization.
(Illustration: MINISO global co-founder Mr. Ye Guofu took a memorable photo with the representative of Kazakhstan.)
At the signing ceremony, Mr. Ye Guofu made a speech to express his gratitude to Kazakhstan’s trust on MINISO, meanwhile he also believes that MINISO will be stronger and stronger in Kazakhstan in the future, bringing more happiness to local people. The representative of Kazakhstan also conveyed his confidence in the cooperation between MINISO and Kazakhstan, especially after knowing MINISO’s blueprint for global development, which strengthens his faith in bilateral cooperation.
Kazakhstan is the biggest landlocked country in the world, which is abundant in natural resources. It is mainly depending on petroleum, gas, mining, coal and husbandry, while weak at industrial base. Nowadays, as a result of global economic turmoil, residents experience increasing pressure from purchasing imported commodities with higher prices, while MINISO, which is famous for its high-quality and low-price products, can improve such unreasonable consumption pattern in Kazakhstan. A large amount of “high-quality, creative and low-price”products can meet the demand of people of Kazakhstan, bringing them unprecedented shopping experience.
(Illustration: The representative of Kazakhstan BakhadyrAnarmetov made a speech at the signing ceremony.)
MINISO’s strategic cooperation with Kazakhstan this time not only shows its support to the national strategy of "One Belt and One Road", but also develops itself further in the Asian-Pacific market, accelerating the development of real retail industry in this region. MINISO will never stop its global expansion. It will cooperate with more countries in the future, working together to promote the internationalization development of real retail industry.