Actively Responding to “the Belt and Road Initiative”, MINISO Establishes Strategic Partnerships with Indonesia and Georgia Successfully
Good news! On September 14, the international fast fashion designer brand MINISO signed comprehensive strategic cooperation agreements with Indonesia and Georgia sequentially, which means MINISO goes further to the Asian-Pacific region. Ms. Zhu Xian, the representative of Indonesia and Mr. Levan Aroshidze, the representative of Georgia attended the signing ceremony and made a speech. Mr. Miyake Junya, the chief designer and global co-founder of MINISO, and Mr. Ye Guofu, global co-founder of MINISO, together with Mr. Li Minxin, the Vice President of MINISO Asian-Pacific witnessed this historic moment.
(Illustration: MINISO was signing the strategic cooperation agreement with Indonesia, supporting “the Belt and Road Initiative” actively.)
As the countries along “the Belt and Road” economies, Indonesia and Georgia maintain close economic relations with China, and get closer to China actively in recent years. Indonesia signed a series of economic and trade agreements with China in the G20 Summit in Hangzhou lately, and President Joko Widodo of Indonesia indicated that Indonesia has set up a specific department this year for providing services to the Chinese investors. While Georgia, whose relations with China is reaching to the peak currently, has conducted the third round free trade agreement negotiation with China by the end of July. Both parties have admitted that as the hub to link Asia and Europe, Georgia plays an important role in the Silk Road Economic Belt.
Mr. Miyake Junya also addressed that although MINISO has established less than three years, it owns more than 1,400 stores around the world, whose secret is “quality, creative and low-price” products. Presenting such products to consumers all over the globe has always been the biggest wish of MINISO. Representatives of Indonesia and Georgia also expressed that people of both countries are confident about the cooperation with MINISO, especially after knowing MINISO’s blueprint for global development, which strengthens their faith in bilateral cooperation.
Indonesia is the largest archipelagic state, which is called the “Thousand Islands”. Although the land is scattered, Indonesia has a population of about 250 million, ranking the fourth in the world. The meandering coastline not only provides Indonesia with excellent natural harbors to develop fishery industry and tourist industry, but also equips Indonesia with a large-scale continental shelf to produce oil and natural gas. The exportation of gas and oil makes Indonesia to be “the largest economy of the Southeast Asia”. However, with the reduction of international crude oil price, Indonesia has suffered from huge economic shock, which is resulting in a sharp decline of people’s living standards. This time, by giving timely assistance to Indonesia with its high quality but low-price products, MINISO has taken a step forward to the Southeast Asia, laying a solid foundation for the prospective global strategy. After signing the strategic cooperation agreements, MINISO will set up three to five stores in the business district in Djakarta by the end of December this year, so that the Indonesian may experience the joyfulness by shopping in MINISO. Besides that, it is planned to open 100 stores in Indonesia within one year.
(Illustration: MINISO was signing strategic agreement with Georgia, developing further in Eurasia.)
Located in the border region of the Eurasian Continent, Georgia enjoys exceptional advantages of geographical position, which is an important path linking Asia and Europe. Resulted from that, Georgia attaches great importance to the development of foreign trade. In order to attract foreign investment, Georgia decreased tax rate and devotes itself to establishing free market economy. A large amount of foreign capital has indeed promoted Indonesia’s economic development, but brings bad effects to the national price level at the same time. For most ordinary people, those commodities sold in supermarkets in shopping malls have posed great burdens on them, while MINISO can improve such situation fitly. As for MINISO, setting up business in Georgia is beneficial to connect the Asian and European markets where MINISO has established business before, truly realizing “the Belt and Road initiative”.
(Illustration: Mr. Ye Guofu, global co-founder of MINISO was addressing in the signing ceremony.)
MINISO’s global co-founder Mr. Ye Guofu indicated that there is no backward country but backward market. MINISO becomes the low-price luxuries in such markets. According to previous experience, no matter it sets up stores in downtown areas or underpopulated regions, MINISO still attracts a large number of customers as long as it opens. “Laos is the poorest country I have ever been, with little population and not even a shopping center. While the MINISO store in Laos is popular around local people, which generates USD 7500 to USD 9000 daily and reaches more than USD 207,000 for one month,”said Mr. Ye.
The signing of the agreements with Indonesia and Georgia not only shows MINISO is fully supporting the national initiative of "the Belt and Road", but also proves it develops itself further in the Asian-Pacific market, clearing the regional barriers and stimulating comprehensive development. Besides that, it is also a significant move to enlarge MINISO’s international influence and realize its global strategy. MINISO will cooperate with more countries and regions in the future, working together to promote the internationalization development of real retail industry, relieving consumers’ shopping stress and bringing more happiness to them.