PR Newswire
31 Oct 2023, 14:03 GMT+10
HONG KONG, Oct. 31, 2023 /PRNewswire/ -- Global lifestyle brand MINISO recently opened three new stores in Hong Kong, including its current biggest store in the city at TKO Plaza, marking another milestone in its ongoing expansion. The store at TKO Plaza, plus the new Ma On Shan Plaza and Yuen Long Castle Peak Road locations, bring the brand's upgraded shopping experience and fun, affordable, useful products to an even larger audience.
As part of MINISO's brand upgrade, the new stores all feature an upgraded layout. Characterized with a clean and modern design, along with various distinct zones, these stores also emphasize popular product categories, including fragrances, blind boxes, plush toys and electrical appliances, all of which are top-performing categories for MINISO in the Hong Kong market.
Each of the three new stores also houses an exclusive IP zone, showcasing MINISO's exciting array of co-branded products developed in collaboration with some of the world's leading names, such as Barbie, Disney Toy Story, Snoopy, and more. As part of its strategic category optimization, MINISO will continue to attach great importance to IP products, with Pokemon, Mikko, Dundun Chicken, and other IP product ranges set to launch in the coming months.
MINISO's new store openings come amidst the backdrop of strong financial performance from the 2023 fiscal year, ended June 30. The brand achieved global revenue of US$1,582.2 million, a 14% year-over-year increase, while overseas revenue for the year totaled US$521.7 million, a year-over-year increase of 45%. MINISO's rapid expansion also continued during the fiscal year, with the opening of 214 new overseas stores, bring the total number to 2,187 overseas and 5,791 globally.
Bella Tu, Vice president and General Manager of MINISO Overseas Operations, said: "Our outstanding results from the 2023 fiscal year were fueled partly by our ongoing expansion overseas and continuously refined store model. Significantly, we achieved breakthroughs in both revenue and profitability during the June quarter. These three new stores in our directly operated Hong Kong market offer a further boost to our overseas expansion, and another step on our journey to making MINISO a global lifestyle super-brand."
MINISO currently has stores in Hong Kong from Hong Kong Island, Kowloon, to New Territories East and West. As one of its important strategic markets in Asia, the brand hopes to reach a total of 100 stores in the city within next few years, with the opening of the TKO Plaza store marking a new beginning. New stores will include more high-potential locations, larger stores, and more IP-themed stores, such as the Sanrio-themed and Disney Pixar Food Collection-themed stores recently opened in other Asian markets. In doing so, MINISO aims to consistently bring new surprises to consumers every year, convey the brand's 'joy philosophy', and bring more high-quality lifestyle products, and more joy, to Hong Kong consumers.
About MINISO
MINISO Group is a global lifestyle brand offering a variety of design-led lifestyle products. The Company serves consumers primarily through its large network of MINISO stores, and promotes a relaxing, treasure-hunting and engaging shopping experience full of delightful surprises that appeals to all demographics. Aesthetically pleasing design, quality and affordability are at the core of every product in MINISO's wide product portfolio, and the Company continually and frequently rolls out products with these qualities. Since the opening of its first store in China in 2013, the Company has built its flagship brand "MINISO" as a globally recognized retail brand and established a massive store network worldwide.
Get a daily dose of Philippine Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Philippine Times.
More InformationSALT LAKE CITY, Utah: Utah may become the first state to ban fluoride in public water under a new bill that prevents cities from deciding...
MEXICO CITY, Mexico: Three American women were found dead over the weekend at a beach resort in Belize, police said. Officials are...
BANGKOK, Thailand: Chinese authorities said they started live-fire military exercises in the Gulf of Tonkin this week, just days after...
ABOARD THE CHARLES DE GAULLE, Philippines: France's nuclear-powered aircraft carrier and its warships arrived in the Philippines over...
FRESNO, California: Fresno State suspended two of its top men's basketball players last weekend and removed a third player from the...
WARSAW, Poland: Deputy Prime Minister Krzysztof Gawkowski confirmed over the weekend that Poland has been covering the cost of Ukraine's...
BERLIN, Germany: Consumer sentiment in Germany has taken an unexpected turn for the worse heading into March despite forecasts predicting...
CAPE TOWN, South Africa: An international summit on global poverty faced setbacks this week as key finance leaders skipped the G20...
ATLANTA, Georgia: After two years of declining same-store sales, Home Depot finally saw a turnaround in the fourth quarter, fueled...
NEW YORK, New York - U.S. stocks rallied on Friday as economic data showed the U.S. Federal Reserve has likely tamed inflation. The...
WASHINGTON, DC - The U.S. Federal Reserve seemingly has inflation under control with the latest econbomic data confirming little push...
COPENHAGEN, Denmark: A remote Arctic facility designed to preserve the world's agricultural diversity is set to receive a major new...