Miniso to unveil character-inspired store at American Dream
Miniso continues to expand its fast-growing U.S. portfolio.
The China-based value retailer will open its first-ever U.S. flagship store inspired by the intellectual property (IP) of Sanrio in May, at American Dream, the giant retail and entertainment destination in East Rutherford, N.J. Co-designed with Sanrio, the store will offer a “fantastical and fashionable shopping experience,” the company said. (Sanrio’s best-known character is Hello Kitty.)
The new flagship reflects Miniso’s ongoing exploration of IP collaborations in North America, where it is aiming to accelerate its rapid expansion on the back of strong growth in 2023. The retailer said its year-over-year same-store sales in the market increased 75% last year, which it attributed to competitive store locations and a “high-quality” shopping experience. The increase far exceeded the brand's global overseas markets' (excluding China) average of 26%.
In addition to its store at American Dream, other upcoming locations include Santa Monica and Coronado, Calif., Miami Beach and more. Miniso has also partnered with CBL Properties to expand its footprint to 13 malls across the country.
“We believe North American growth can act as a catalyst for our continued global expansion, with our aim to add 550 to 650 new stores worldwide,” said Bella Tu, general manager of Miniso overseas directly operated markets and VP.
Miniso, which sells a mix of toys, gadgets and household items, attributes its U.S. growth to its IP collaborations, constant product innovation and strategic store expansions across the region. Throughout 2023, the company introduced a diverse selection of IP collaborations — including Snoopy, Barbie and Care Bears — in North America, integrating iconic characters into its product and store designs.
"Our vision is to become the world's leading IP design retail group and North America has a vital part to play in achieving this," said Tu, general manager of Miniso overseas directly operated markets and VP. "We've made huge strides in this market thanks to our strategic IP collaborations, innovative store initiatives, and the amazing support we've received from local consumers.”
Miniso’s total global revenue for 2023 was $1.9 billion, with year-over-year growth of 39.4%. The company ended the year with 172 stores in North America.