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 will open a flagship store this week in Times Square, New York. The company will keep most of its supply chains in China.
Miniso 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 stores reached 5,514, an increase of 401 compared to last year and an increase of 74 compared to the previous month.