“Miniso relies on Big Data to create in-store traffic”
The Miniso Chinese retailer (4,500 stores, €10 billion turnover in 2020) built a data-driven model for range management. Mind Retail discussed with Jonathan Siboni, Co-Founder of Miniso in France and C.E.O. of Luxurynsight.
Miniso is nicknamed the “Zara of accessories”. What are the reasons for growth?
Jonathan Siboni : Founded in 2013, Miniso is a retailer of accessories and decoration at very affordable prices. Headquarters are in Guangzhou (China) and the main design team is in Japan. Our model is primarily offline, with 4,500 stores in 88 countries in late 2020, with 2,700 stores in China. Each store sells about 3,500 items, including 90% of private labels. I launched the Miniso franchise in France with Ariel Wizman, Nicolas Rey and Michel Cohen in October 2020. By the end of April 2021, we had 3 French stores. We are also developing pop-up stores and an e-shop with Fnac. The first pop-up store has opened in Paris and a dozen more will open in 2021. Thanks to the franchising model, international development is particularly rapid. In Mexico, for example, Miniso has opened 180 stores in 18 months, and Carlos Slim has become a 33% shareholder. Miniso shares have listed in New York since October 2020.
The world is turning digital so why promote only offline?