MINISO introduces new '$10 N' under' concept store in the US 4 stores opened on the same day in California and Virginia

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Oct 14, 2021, 07:00 ET

GUANGZHOU, China, Oct. 14, 2021 /PRNewswire/ -- NYSE listed lifestyle product retailer MINISO has announced the rollout of a series of retail outlets in the US under its new '$10 N' Under' concept. The first four stores to debut with this theme opened in Santa Clara, Sacramento, and Concord in California as well as Tysons, Virginia on October 2.

One of the first MINISO $10 N’ Under concept stores at Tysons Corner Centre, Fairfax, Virginia

Featuring a wide range of locally sourced products within stores designed for the optimum shopping experience, the '$10 N' Under' concept was developed in response to MINISO's research which showed strong consumer demand for items priced under $10. As much as 95% of toys, cosmetics, electrical accessories, and other items stocked at these retail outlets will fall below that price point, each one reflecting the brand's ethos of being young, surprising, engaging, and bold. The '$10 N' Under' concept marks a shift in MINISO's supply chain for the North American market since entering in 2017. The move will guarantee a fast and steady stream of affordable products to North American consumers.

"$10 N' Under represents a key milestone in MINISO's ongoing development efforts in the US market. With an innovative integrated supply chain that combines distribution from MINISO headquarters with locally sourced products, '$10 N' Under' enables us to increase the richness and cost-effectiveness of our product offering." said MINISO's Overseas VP, Vincent Huang.

With 38 stores in the United States, MINISO has gradually expanded from the country's west to the east since this year.

About MINISO Group

MINISO (NYSE: MNSO) is a lifestyle product retailer, offering high-quality household goods, cosmetics, food, and toys at affordable prices. Since its first store opened in Guangzhou in 2013, MINISO has 4,749 stores in 99 countries and regions as of June 30, 2021. With a focus on sleek design and fun trends, its mission is to enable everyone to enjoy life's little surprises.

For more information, please visit
www.miniso.com

SOURCE Miniso Group