China-based lifestyle retailer MINISO has announced that it is relocating the company’s North American headquarters from Los Angeles to New York City to strengthen its presence along the east coast of the United States.
MINISO stores stock household goods, cosmetics, food and toys at affordable prices, the company noted, with a focus on sleek design and fun trends. Since the 2013 debut of its first store in Guangzhou, MINISO has opened about 4,600 stores in more than 95 countries and regions. It operates about 30 stores in the United States, mostly in California, with two more in Florida and one in Las Vegas.
The company’s New York office will oversee U.S. and Canada operations while corporate branch offices will remain open in Los Angeles, Vancouver and Toronto to supervise regional logistics and storefront retail. MINISO’s strategic shift will facilitate the brand’s eventual expansion in the U.S. central region, the company indicated. Over the next six months, new MINISO stores will open in major North American cities, some featuring a new store look in-store. In addition, the company will release a range of items reflecting North American consumer preferences, MINISO stated, including an assortment of dolls and furniture as well as products featuring banners such as Coca-Cola and Minions.
“Our improved performance in the United States reveals the underlying resilience of local economic fundamentals,” said MINISO’s vp/international business Vincent Huang in announcing the headquarters shift. “As the economy re-opens, consumers sitting on a pile of savings will spend on experiences as well as goods that a brand like MINISO offers. We stand ready to ride the wave of a revitalized U.S. economy by bringing MINISO to the homes of the American people.”
Our improved performance in the United States reveals the underlying resilience of local economic fundamentals. As the economy re-opens, consumers sitting on a pile of savings will spend on experiences as well as goods that a brand like MINISO offers. We stand ready to ride the wave of a revitalized U.S. economy by bringing MINISO to the homes of the American people.
-Vincent Huang, MINISO’s VP of International Business
NYSE-listed MINISO recently announced a 72.9% year-over-year increase in U.S. sales for the 2021 first half, as transaction value per customer rose from $14.30 in the first two months of this year to $15.57 in May and June.
In Asia, the company is innovating. It followed a blind box collection launch earlier this year, with the introduction of a self-service vending machine that will offer the product line in Singapore’s Suntec City Mall, a location selected due to its popularity with Gen Z shoppers. The new machine allows contactless shopping for MINISO’s package-with-a-surprise-inside blind boxes. The company already sells blind box products in 22 stores across major shopping malls in Singapore. It plans to open a total of five vending machines across Singapore as part of the launch initiative.