Japanese lifestyle brand Miniso has entered the Kenyan market, opening its first variety store at the Village Market while another one is planned at the Thika Road Mall (TRM).
Miniso opened the Village Market shop on December 22 as part of an ambitious global expansion plan. The company told the Business Daily that its store at TRM, where it steps into the space vacated by Woolworths, will open to the public on January 15.
The company says it is also looking for companies to become its local franchisees to help open more stores later in the year.
Miniso’s products range from homeware, electronics to fashion and accessories. The company prices its products between Sh155.20 ($1.5) and Sh3,104 ($30).
Miniso was co-founded by Japanese designer Miyake Junya and Chinese entrepreneur Ye Guofu. After initially moving into China and other Asian countries, the company has over the last two years expanded its horizons.
Between 2016 and 2017, the company opened stores in the Americas (Canada and the US) and the Middle East. The firm even ruffled feathers after it set up shop in Pyongyang, North Korea.
In Africa, Miniso says it has a presence in Nigeria, Egypt, South Africa, Morocco and Madagascar. It has 2,600 stores across the world.
The company said it plans to grow its global sales to overtake domestic sales by the end of the year.
In 2017, Miniso’s local turnover stood at $1.2 billion while sales from external markets came in at $737 million.