With 40 stores in Spain since Miniso opened the first one in Madrid in 2018, the firm continues with its “silent expansion” due to the pandemic, but with “a lot of strength and with the desire to bring happiness, now to Zaragoza”, continuing with the concept of happy store that characterizes the brand and the message ‘Life is for fun’, says Ana Rivera, general director of Miniso Spain, to elEconomista
Zaragoza is one of the cities that Miniso is now opening with the recent inauguration of a 320-square-meter flagship store in the center of the Aragonese capital, with which five jobs have been generated and in which, in addition to offering its products and license items (Adventure Times, Cartoon Network, Disney and its villains and Minions), has a unique space in Spain in which users can perpetuate their memories and their time in the store.
Aragón is one of the autonomous communities that is in Miniso’s sights, not ruling out new openings after the launch of this first establishment in the capital of Zaragoza and in the autonomous community. “Zaragoza was our ‘Achilles’ heel’. We have been looking for a place for a long time and, finally, we have found it. It was a city where we had to be, yes or yes. In Aragón, we will open more. Huesca and Teruel are smaller towns, but we don’t have a ‘yes’ or ‘no’ expansion plan, but rather, when we find a good opportunity, we value it and, if we all agree, it goes forward”, he adds.
Miniso’s opening plan in Spain also contemplates a new store in Mallorca that will open soon at the beginning of April, and “we are looking for locations in the provincial capitals or in the main cities to have a brand presence. The forecast is open ten, but we don’t have a plan for openings in ‘Excel” It will be as we see and as long as we find the location, the venue and the right place to be”.
Within the expansion plan, which will continue beyond 2022, Miniso is considering more openings in Malaga, where it already has two stores and, predictably, a third will open, and Madrid, where there are five, but there are possibilities of opening some establishment plus.
With the opening of the store in Zaragoza and the next one in Mallorca, Miniso will now add 42 points of sale. The firm is present in Spain, Portugal and Andorra. For example, it has six centers in the Canary Islands and adds points of sale in Madrid, Barcelona, Seville, Malaga or San Sebastian, among others. “We are in practically the main cities.” And the objective is to grow both in implantation in more capitals and in consolidation of the markets in which it is already present. “Yes, we would like to have a presence in different cities so that people know us and have access because they always ask us when it opens.”
franchise growth
In its growth, Miniso contemplates both own stores and franchises. Currently, 20% of the establishments are of the brand, but “we are based on a franchise model. It is true that depending on the locations, we have taken our own stores, but it is always based on the franchise,” adds Ana Rivera .
The investment to open a Miniso store ranges between 120,000 and 150,000 euros, depending on factors such as the size of the establishment and the state of the premises. “We are looking for people who are capable of opening several points of sale. We are not looking for self-employment.” In addition, in choosing the franchisee, it is taken into account that they are in charge of other businesses, know the retail model and have a structure to support Miniso and not have one dedicated exclusively to the brand.
The firm’s premises require an area of 200 square meters -it would be the ideal size-, although the firm has establishments of different magnitudes: from 120 square meters to 400 square meters. “It depends on the location, the shape of the premises, if it has a façade… We look for all the parameters”. Each store generates an average of between four or five people, although not all of them are full-time.
Miniso works with franchisees in “a 360. We don’t like to call them franchisees, but partners because they are.” In addition, they are supported on an ongoing basis with training, marketing plan, assistance… We treat their stores like ours. If it goes well for them, it will also go well for us,” says Ana Rivera.
A different business model
Miniso stores, totaling 5,000 in 80 countries, are for having fun, having a good time, and discovering and finding “things you didn’t know you needed,” says Ana Rivera. In addition, the brand is differentiated by licensing products. “Miniso Internacional signed an agreement with Disney. From there, different licenses are emerging and we also have Carton Netwoorks. This differentiates us from other stores. The customer, when he comes, always sees different things.”
Miniso’s business model is “impulse buying like other stores may have, but the product is different because it is inspired by Japanese design, which draws a lot of attention”, as well as low prices. “We insist a lot that Miniso’s things, when you try them, you can tell they have quality. It seems cheap to you, but when you try them, they seem even more so” because of the value for money that “is extraordinary”. “When you don’t know the brand, you can be a little suspicious, but you see the quality when you know it,” he says. The firm has more than 2,500 product references in around 13 categories, which vary from week to week.
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