New Delhi: MINISO, a retail brand of Japan, recorded the annual revenue of Rs 700 crore for the year 2017-18 as it completes one year in India. It was launched in India in August 2017.
As of now, the retail brand has 26 operation stores in India out of which 21 are located in Delhi/NCR, three in Mumbai, two in Lucknow and one in Bengaluru.
It plans to take its store count to 800 by 2019 by increasing its spread in existing cities and entering new cities across the country.
MINISO India plans to expand its business by increasing its footprint across the country. The company aims to open 200 stores by this year end and hopes to increase it to 800 by the year 2019, the company said in a statement.
Miyake Junya, Chief Designer and Co-founder of MINISO Global said, “India is one of the top five markets in terms of revenue for MINISO. To expand our presence in India, we have initiated our franchise model and have already started five franchise stores in India.”
“MINISO India has extensive plans to start operations in Chennai, Kolkata, Hyderabad and Jaipur while tapping into tier 2 and tier 3 markets. This rapid expansion will be done through a company-owned model and through franchise partners as well,” the company added.