The opening of a flagship store in New York is an image move.Chinese retailer Miniso is preparing to open its new store in the heart of New York City. The 5400-sq.ft flagship will be in Times Square, one of the city's most popular tourist locations.
Miniso expects that the lease for the giant store in the top location of New York will allow the company to count on the image effect and increase brand recognition in the North American market.
Miniso has recently aggressively invested in international expansion, opening stores in key markets. February saw a 10,800-sq.ft flagship store opening in downtown Chengdu in southwest China's Sichuan province. The company also plans to launch a large store in Beijing soon.
The company notes that opening a flagship store in New York is an image move, similar to how Apple is opening large-format stores in Southern, Eastern and Northern China metropolitan areas.
As of the third quarter of 2023, Miniso operated 5,296 stores, 97% franchised. The retailer has recently opened 400 to 500 new stores worldwide each year.
1 MARCH 2023, USA