Industry

Miniso Focuses on Expanding Its Presence in the American Market

May 17, 2023, 14:10pm2023/05/17 14:10:43 Pandaily

On May 17th, Zhang Jingjing, the Chief Financial Officer of Miniso, a Chinese retailer of household consumer goods, stated in an interview that the US market will be a key focus for future expansion.

The US has a huge consumer market and a high inflation environment which is conducive to attracting more customers. Miniso<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> will open a flagship store this week in Times Square, New York. The company will keep most of its supply chains in China.

Miniso<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> announced yesterday that it achieved a revenue of RMB 2.954 billion (USD 420 million) in the third quarter of the 2023 fiscal year, an increase of 26.2% year-on-year; adjusted net profit was RMB 483 million (USD 69 million), an increase of 336.3% year-on-year.

As of March 31st, the number of Miniso<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> stores reached 5,514, an increase of 401 compared to last year and an increase of 74 compared to the previous month.

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