A year after entering India’s $670 billion retail market, the little-known Miniso brand has already opened close to 30 outlets in the country. It sells a range of affordable assorted goods on the lines of Japan’s 100-Yen shops, akin to dollar stores. The company is looking to set up an 800 stores by 2019.
(FYI: Big Bazaar (which was launched in 2000) has around 250 stores only).
In just its first year in India, the Guangzhou, China-based $1.8 billion turnover firm has raked in Rs700 crore ($98 million) in revenue, making the country one of its top five global markets.