MINISO, the Japanese-inspired lifestyle product retailer, opened its first outlet in Paris on Tuesday, the company’s first European addition since its NYSE debut earlier this month. Two additional store openings in France are to follow this year, with more to come in 2021 as retail in Europe is on the rebound.
Located on 58 Rue de la Chaussée-d’Antin, MINISO’s new store is within walking distance of Paris’ luxury stores. But shoppers don’t have to worry about the price tag in the discount store as more than 80% of its products are under 10 euros, from creative home necessities, health and beauty products and fashion accessories to office supplies and digital accessories, as well as food and seasonal products.
Before officially bringing its international aesthetic to the global fashion capital, MINISO first caught Parisians’ attention by debuting 40 original products at the Manson & Objet Fair last September. One year later, the brand was introduced to the French market by retail businessman Jonathan Siboni, president of Luxurynsight.
MINISO is also trying to increase its global design influence. In 2018, the company established the MINISO Design Academy (MDA) in order to create more high-quality products exhibiting both creativity and practicality. As of this June 30, the MDA has teamed up with 25 external partners and 49 designers from Finland, Denmark, Norway, Spain and South Korea. Their work has won 28 renowned international design awards such as the iF, Red Dot and ‘K Design’.
MINISO opened its first store in Guangzhou, China, in 2013. Following seven years of rapid growth, MINISO has now opened more than 4,200 stores in over 80 countries and regions, including the US, UK, Canada, Australia, Spain, UAE, India and Mexico. Earlier this month, MINISO’s NYSE debut made it the fastest budget chain to go public.