After opening its first Canadian store in Vancouver last month, MINISO, an Asian variety retailer, says it could eventually run up to 500 stores in Canada.
Positioned as a Japanese lifestyle brand, MINISO specializes in household and consumer goods, selling cosmetics, stationery, toys, and kitchenware. The Guangzhou, China-based company was co-founded in 2013 by Japanese designer Junya Miyake and Chinese entrepreneur Ye Guo Fu.
As of now, MINISO’s North American expansion includes individual stores in Pasadena, California, and in Vancouver. Next week, MINISO will open its second Canadian store at Tsawwassen Mills. In July, it will open another two locations—one at West Vancouver’s Park Royal, and another at 550 Granville Street, across from Holt Renfrew. Jack Liang, the market development manager for MINISO (Canada) Store Inc., adds that the retailer has plans to open between 30 and 50 stores in Canada over the next year.
According to Liang, the retailer is also looking to target major cities, including Toronto and Montreal. If MINISO’s plans work out, says Retail Insider, this could disrupt a large segment of Canadian retailing—especially value-priced retailers.
If this trend of Asia-based retailers moving into the Canadian market continues, independent businesses may find themselves struggling to maintain market share. With attractive branding and a wide variety of international product offerings, these stores could give independents a run for their money.
