MINISO Co-founder and Chief Designer Miyake Junya talks about expansion and brand philosophy
MINISO, which has a presence in over 70 countries, is on an expansion spree. The Japanese designer and lifestyle brand, known for its quality products within an affordable price range, has forged an empire of over 2,600 stores worldwide through self-owned stores and franchises. It plans to open 800 stores in India by 2020. Launched in 2013, the brand philosophy of ‘simplicity, nature and good quality’, has seen a growth rate of 80-100 stores per year. To achieve these goals, MINISO has received multiple investments through a series of funding, with the recent one in October 2018 by Tencent Holdings of USD 147 million in Series A funding.
In an interaction, MINISO’s Co-founder and Chief Designer Miyake Junya shares the brand’s philosophy, vision and expansion plans.
What was the inspiration behind MINISO?
MINISO was founded by me and young Chinese entrepreneur Ye Guofu at the end of 2013. At that time, major financial markets such as Japan, Europe, and the US were in an economic downturn. Consumers generally wanted to buy products with good quality but low price, and an aesthetic pursuit was more inclined to minimalism. In order to meet the new consumer demand and fill the gap in the market, MINISO was born.
How did you meet Ye Guofu?
Bu hikaye Entrepreneur magazine dergisinin August - September 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Entrepreneur magazine dergisinin August - September 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
How To Ask Family For Money
Your friends-and-family fundraising round doesn't have to be scary and awkward. Here's advice from one of the world's leading investors.
Data Breach Drama: When Trust Turns Costly In A Digital Age
Amid data breaches surges, Indian businesses are prone to financial and reputational fallout. Can cyber insurance emerge as a safeguard?
THE TERRAIN TAMER
Spearheading a California-based, Series D SaaS company is no easy feat. It requires a blend of ownership, innovation, and the ability to handle stress. But Anand Jain, co-founder and chief product officer of Clever Tap, finds his calm by escaping to rough terrain whenever he gets the chance-be it India or Colombia.
THE INTELLIGENT READS
Hardika Shah founded Kinara Capital in 2011 with the mission to address the acute credit gap in the micro-small-medium-enterprises (MSME) sector in India, by providing fast and flexible business capital to small business entrepreneurs. Despite operating in highly competitive and tough market of collateral free loans, Kinara Capital has been steadily growing in Hardika's leadership. In conversation with Entrepreneur, Hardika shares insights on her favourite books.
THE CURSE OF GROWING TOO FAST
FAIRE is a platform for small businesses, but it grew big the wrong way-almost becoming a $12 billion wreck. Here's how it fixed the problem, and why you should think twice before skyrocketing.
There's No Perfect Answer
I worked the same job for 19 years. I hated it, but it paid the bills. Then, in 2017, I entertained an exciting but terrifying question: Could I be an entrepreneur? I wasn't sure, so I needed something that felt like a guarantee. I searched for signs that would feel like a big, clear \"yes!\"
Give Yourself the Gift of Time
Happy holidays! Emmy Award-winning tech expert Mario Armstrong has five recs to get more hours in the day.
How to Become a Main Street Millionaire
It started when I bought one little laundromat. Now I have a whole portfolio of small local businesses that bring in tens of millions in revenue a year. Here's why following my playbook could be your ticket to financial freedom-and saving America's local small businesses.
Want to Better Serve Your Clients? Become Them.
As a designer for brands, starting my own product company gave me a dose of humility-and it changed the way I relate to clients.
How to Succeed With Gen Z Workers
People often say that younger employees are different. But are they? We asked six business leaders what they've learned, and how their teams thrive.
