Japanese retailer, MINISO, has confirmed plans for its continued expansion in Africa as the company stated that it would be signing an agreement with Kenya’s ‘The Hub’ Karen (THK) Lifestyle complex. The company has confirmed plans to set up more than 100 outlets in as part of an ambitious expansion strategy that will eventually cover other parts of the continent.
Philippe Cauviere, CEO of Azalea Holdings, the developers of The Hub Karen, said MINISO, a high profile international retailer, will further enhance the variety of lifestyle stores at the shopping and recreation complex.
Cauviere was speaking when he confirmed the signing and scheduled opening of the MINISO lifestyle store at The HUB Karen due to be executed by August, 2018.
MINISO Lifestyle Kenya Business Development Manager, Dean Zhu confirmed that the organization plans to expand its local presence with a mix of directly owned and franchised outlets countrywide.
“We are truly excited that MINISO has chosen The Hub Karen as one of their African flagship locations,” Cauviere said.
“The scheduled opening of a MINISO lifestyle store in August will undoubtedly enhance The Hub Karen’s appeal as Sub-Sahara’s premier shopping and recreation complex and offer shoppers a wide range of unique and affordable lifestyle products,” he continued.
In Africa, MINISO’s footprint covers Nigeria, Egypt, Uganda, Tanzania, South Africa, Morocco and Madagascar with over 2,600 stores across the world.
“As part of our expansion strategies at MINISO, we are planning to develop more than 100 stores in Kenya directly and on a franchise model.” Dean said.
MINISO stocks a wide variety of retail products inspired by fashion lifestyle in every aspect of life. The firm’s stores stock more than 5,000 products covering categories such as health, beauty, digital, creative home-ware, stationery and gifts, boutiques and bags, textile, toys, food and beverage as well as accessories, life department and seasonal products.
In 2017, MINISO’s global turnover stood at $1.2 billion while sales from external markets came in at $737 million.
The Hub Karen is part of the Janus Continental Group, an international conglomerate, comprising of market-leading companies in the Energy, Hospitality and Real Estate sectors.