MINISO Sets up in Burma, Creating Sales Miracle on the First Day
On September 12, 2016, the flagship store of MINISO, a global designer brand of fast fashion, was open for business in Anawrahta Road, Burma. On August 19, 2016, Chinese President Xi Jinping met at Diaoyutai State Guesthouse with State Counsellor Aung San Suu Kyi of Burma, and both parties agreed to boost bilateral cooperation under the national initiative of “the Belt and the Road”. By opening the store in Burma, MINISO serves as an example of convincing proof for the brand's practice of the “B&R” initiative.
On the day of the opening ceremony, Mr. Miyake Junya, the chief designer and global co-founder of MINISO, and Mr. Ye Guofu, the global co-founder of MINISO, together with Mr. Yan Genbing, the representative of Burma were present for the opening ceremony, witnessing this exciting moment.
(Illustration: On September 12, MINISO opened its first store in Burma.)
On the day when the store was open for business, MINISO not only prepared local folk performances for the Burmese, but also invited Burmese best actress Phwe phew to present at the opening ceremony. Phwe phew has been popular among the young people between twenty and thirty throughout these years in Burma, who was awarded the best actress in Burma for two years consecutively. After opening for twenty minutes, the store attracted a large number of queuing customers, thus the business street where the store is located was guarded by security guards to keep order.
(Illustration: The Anawrahta Road store has been crowded by local people since its grand opening.)
Burma is a nation whose economic pillars are agriculture and primary processing. Its living standards and modernization levels are generally low. In 2010, Burma achieved democratic reforms and got rid of the manipulation of the military government. Since then, the improvement of people’s livelihood has been the major issue of the democratic government. Currently, MINISO, who is famous for its “quality, creative and low-price”products, happens to improve the shortage of local light industrial products. By providing a large amount of products to customers, MINISO not only meets local people’s demand for their daily needs, but also relieves their consumption stress, bringing happiness to the Burmese and being a model of the local retail industry.
MINISO has been popular among consumers due to its comfortable shopping environment, good, affordable products and special business model of global design. Since its establishment in 2013, MINISO has opened more than 1,400 stores across the globe. It has successively set up stores in the U.S., Mexico, Singapore, Dubai, Australia, Korea and Canada, etc., and signed strategic cooperation agreements with 36 countries and regions. So far, the number of retail stores in Hong Kong has surged from one from the very beginning to 40, and those in Dubai has grown to three by now. In 2015, its annual revenue exceeded USD 1 billion, which is expected to reach USD 2 billion by 2016.
Nowadays, MINISO has opened stores in Europe, the Americas, Africa, Asia and Oceania. It is planned to open 6,000 stores globally by 2020, thus consumers around the world can truly experience the happiness brought by joyful shopping.