MINISO on Champs-Elysees sets new expansion milestone
By Retail4Growth Bureau | June 25, 2024
The brand’s newly opened Paris flagship spread across 8,600ft2 is its largest store in Europe and is part of its ambitious "Super Store" strategy, which focuses on establishing large-format stores in key, high-traffic areas.
Global lifestyle brand MINISO has announced the grand opening of its brand-new flagship store in Paris on Saturday. The prime location, situated at 104 Avenue des Champs-Elysées, places MINISO right in the heart of the city's most iconic shopping district, nestled among the world’s most famous luxury brands and just steps away from the Arc de Triomphe.
The grand opening created a buzz in the city, and the store even achieved a new MINISO record for single-day sales outside of mainland China, the company informs.
“The Paris flagship, which is MINISO’s largest store in Europe, marks a significant milestone for MINISO's ongoing global expansion, aligning perfectly with the brand's ambitious ‘Super Store’ strategy. This strategic approach focuses on establishing large-format stores in key, high-traffic areas,” says the company statement.
The brand’s ‘Super Stores’ focus on offering customers an immersive MINISO experience, showcasing the brand's extensive product range across categories like household goods, cosmetics, stationery, and more. The new flagship, which sprawls across two floors and over 8,600ft2, particularly highlights MINISO’s IP collaboration collections – one of the brand’s key strategic product categories – with design elements and store zones dedicated to Sanrio, Disney, Barbie and others. The store will also be the first in France to debut the new BT21 IP collection.
The company also shares that the new opening comes on the back of strong financial performance for the brand in the March quarter of 2024. The brand’s total global revenue grew 26% YoY to US$515.7 million, while revenue generated from overseas markets surged by 52.6% YoY to US$169.2 million.
"The new flagship store in Paris is another exciting step forward for MINISO," said Vincent Huang, General Manager of MINISO overseas distributor markets and Vice President. "Following the successful launch of Super Stores in Times Square and Oxford Street, this prestigious Parisian location further solidifies our commitment to the 'Super Store' strategy and its role in elevating the customer experience and propelling our global brand recognition."
MINISO's "Super Store" strategy aims at creating a more engaging and interactive shopping environment, fostering a sense of discovery and excitement for customers, says the company.
With the addition of the Paris flagship, MINISO now boasts a presence in 110 overseas (outside mainland China) markets, with 6,630 stores worldwide. The brand's long-term vision is to become a global super brand, and it plans to achieve this by establishing 900 – 1,100 new stores globally in 2024, with over 50% of the new stores to be located overseas, informs the company.
