MINISO Expands Global Reach with First US IP Collection Store Opening in New Jersey in Line with Global IP Strategy
NEW YORK, May 7, 2024 /PRNewswire/ -- Global lifestyle brand MINISO is thrilled to announce the grand opening of its first IP Collection Store on May 3, with around 4,000-square-foot store, located in the iconic American Dream Mall in New Jersey. Building upon the success of multiple landmark stores in New York, including a recent Times Square pop-up in March and its flagship store opened a year ago in the same area, this new store accelerates MINISO's advancements in the New York metropolitan area. It also marks a significant milestone in MINISO's rapid expansion across the US, further enriching its landscape of over 100 stores, dedicated to delivering innovative and joyful shopping experiences to local consumers.
Echoing MINISO's "Life is for Fun" slogan, the new IP collection store layout sparks interaction, inviting shoppers to engage with beloved IP characters and products in dedicated zones. Until May 9th, MINISO's collaboration with the core New Jersey mall features a 16-feet-tall PenPen from MINI Family, alongside a playful ball pool area evoking summertime delight. This creative towering installation not only celebrates MINISO's store opening but also enriches the shopping experience with fun interactive elements, exemplifying MINISO's commitment to delivering joy to consumers and rapid growth in the United State.
With its core customer base being the younger generation, MINISO consistently focuses on understanding their consumption trends and demands to provide products that foster emotional connections and differentiation. Notably, IP co-branded collections have garnered substantial interest and popularity.
Following its global brand upgrade in 2023, MINISO has strategically pursued IP collaborations worldwide, positioning itself as the world's leading IP design retail group. That same year in May, MINISO launched its first global flagship store in Times Square to great acclaim, rapidly becoming a beloved destination for both locals and tourists. In March 2024, the brand unveiled its second Times Square pop-up store, featuring a striking Stitch-themed storefront design that set a new record for the highest sales per square foot among all US stores.
Furthermore, through deep collaborations with nearly 100 renowned global licensers, such as Barbie, Disney, Minions, Snoopy, and Care Bears in the US, the brand has successfully developed a plethora of unique proprietary IP products and innovative store aesthetics, offering consumers an immersive shopping experience. The brand also focuses on its own original design IPs, with unique collections such as the popular MINI Family and Dundun Chicken.
With the success of its global brand upgrade and IP strategy, IP product sales contribution in 2023 exceeded 40% globally. While in North America/US, IP products also contributed to fast growth in the region, propelling MINISO's North American revenue growth to an astounding annual rate of 128%.
"Our vision is to become the world's leading IP design retail group, and North America is pivotal in achieving this goal," said Bella Tu, General Manager of MINISO Overseas Directly Operated Markets and Vice President. "The American Dream store is a key part of our strategy to enhance our global footprint and bring unique, joy-filled shopping experiences to more consumers."
In 2023 alone, MINISO expanded into more than 10 new states in the US, bringing its total to over 100 stores across 27 states, as part of its global network of over 6,400 stores. By the end of 2024, MINISO aims to extend its presence to more states nationwide, with plans to continue expansion in existing cities and add more inland states, including Ohio, Tennessee, Colorado, and Utah. Globally, MINISO aims to add between 550 and 650 new stores worldwide by the end of 2024, reaffirming its commitment to global growth and bringing joy to 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 appeal 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.
SOURCE MINISO
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