MINISO anticipates expanding both online and offline in 2023 after reaching 220 stores in India.
As the Chinese company continues to grow throughout the nation, the accessories and lifestyle brand Miniso reached a store count of 220 in India in 2022. Miniso intends to concentrate on large-scale retailers and keep growing in 2023.
Tyrone Li, the country manager for Miniso in India, stated in a press release on January 3 that "during the pandemic, we adopted a more conservative store opening strategy, and having seen the performance potential of first- and second-tier cities, next year we will primarily open larger stores there." We see India's potential for growth and will keep cooperating with both our current and possible future partners to expand there.
Miniso has 16 outlets in the Mumbai metropolitan area and is now present in 125 Indian towns. Miniso established 10 outlets in December 2022, one of which was a 110 square metre outlet on Bengaluru's New Bel Road commercial pedestrian strip. Additionally, the company launched a location in Thiruvananthapuram's Lulu Mall.
Miniso considers India as one of its most important international markets due to its large population and growing economy, according to the business. In 2023, Miniso will focus on opening high-performing stores and selecting products to retail which cater to the needs of Indian consumers. The business will also focus on expanding its e-commerce offering on large-scale marketplaces Amazon India and Flipkart.