Asian company Miniso opens a store in Piata Romana, replacing Oro Toro

Newsroom 19/11/2018 | 11:03

Japanese brand Miniso, specialized in the sale of traditional food products as well as personal care and home products, has opened a new store in the center of Bucharest, taking over the space previously occupied by the Oro Toro fast-food restaurant in Piata Romana.

According to Profit.ro, the retailer was spotted on the market as the startup with one of the fastest expansion over five years, especially due to low prices at over 3,000 stores and revenues of USD 1.8 billion last year.

BR announced earlier that the retailer is preparing the opening of over 40 stores in Romania. The first 5 stores will be opened this year in malls in Bucharest, and by 2020, according to plans, the company will exceed 40 stores in the Capital and other cities.

The Miniso chain was founded in Japan in 2013 by Japanese designer Miyake Junya and Chinese businessman Ye Guofu and opened up to more than 3,000 stores in around 60 countries and regions, including the United States, Canada, Russia, Singapore, United Arab Emirates, Korea, Malaysia, Hong Kong (China).

The philosophy of the low-cost retailer, based in Guangzhou, China, is to update the products sold once a week and sell them at prices ranging from USD 1.5 and drive the retailer’s business from USD 750 million in 2015 to USD 1.8 billion in 2017.

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