MINISO Opens First Store in Iceland, Entering the Northern European Market

GUANGZHOU, China, Dec. 11, 2020 /PRNewswire/ -- Branded variety retailer MINISO (NYSE: MNSO) opened its first store in Iceland, as well as Northern Europe, on December 6. This marks the fourth store that MINISO has opened in Europe just this month, as the company powers forward in its global expansion strategy.

"As one of the most mature retail markets in the world, Europe represents an important territory for MINISO," said Vincent Huang, Vice President of MINISO, "Adopting a targeted strategy on a product level in order to appeal to local consumers, we have begun opening offline stores in Spain, Germany, Ireland, and other countries starting last year. As of end of this November, we have opened more than 100 stores in Europe."

"Driven by the mission to bring high-quality, cost-effective products to consumers in all corners of the globe, MINISO has chosen Iceland as the location of our first store in Northern Europe," said David Tong Li, MINISO's master franchisee of Iceland market. "MINISO's entry is set to disrupt the regional market for daily necessities and consumer goods, filling the gaps in the current product offering. By providing consumers with delightful items, we seek to create a bit more surprise and joy in the everyday."

To celebrate the opening of its Iceland store, located in the famous Kringlan mall in the capital Reykjavik, MINISO not only organized a Facebook event and a social media lottery but handed out prizes to the first 50 customers; the influencer Anita unboxed items and explored the store to spark even greater excitement. Moreover, MINISO ensured that COVID-19 measures were strictly enforced, limiting in-store shoppers to a maximum of 10 at a time. Given the consumer interest to discover MINISO products, the store had, at times, more than 100 people in queue, while the average purchase per customer totaled 7 items during the first two days of opening.

With a newly established international merchandise department, MINISO has built up wide-ranging product categories for international markets, covering food and kitchen supplies, travel goods, perfumes, toys, and cosmetics. Resulting from the product team's in-depth research of the European market and consumer preferences, products presented in this newly-opened MINISO store in Iceland, such as cosmetic brush, facial razor, silicone face cleanser, eye massager, all kinds of cups and plush dolls, have unsurprisingly become popular among local consumers.

Elsewhere in Europe, MINISO opened two stores in France including the first POP UP store in FNAC Beaugrenelle, and one store in the United Kingdom this month. The France store, located in the town of Plaisir just next to Paris, is the country's second MINISO store after its prestigious Chaussée d'Antin location in the country's capital. In the United Kingdom, MINISO has opened stores in Cambridge and Cardiff recently, which have been enthusiastically received by customers looking to explore MINISO's rich and charming lifestyle offering.

About MINISO

MINISO (NYSE: MNSO) is a lifestyle product retailer, offering high quality household goods, cosmetics and food at affordable prices. Since opening its first store in Guangzhou in 2013, MINISO has opened more than 4,200 stores in over 80 countries and regions in just 7 years. With a focus on sleek design and fun trends, its mission is to assure through its products that a better life has nothing to do with the price.

For further information, please visit:
https://www.instagram.com/minisoiceland/ 
https://www.instagram.com/miniso_uk/     

SOURCE Miniso Group