MINISO's NYC Times Square Flagship Breaks Sales Records, Further Boosts Confidence In U.S. Expansion
Portfolio Pulse from Happy Mohamed
MINISO's new store in Times Square, New York, has broken the company's sales records for both first-day and first-month sales. The store recorded over 60,000 consumer visits in its inaugural month, approximately eight times higher than the average sales of the other nearly 80 stores in the United States. The success of the store reflects a significant growth of MINISO's profitability in the US market. The company attributes the remarkable sales performance to the popularity of its diverse range of products, including IP licensed products and original designs. MINISO plans to expand its presence to over 100 locations across the US by the end of 2023.
July 25, 2023 | 1:12 pm
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POSITIVE IMPACT
MINISO's record-breaking sales at its new Times Square store indicate a significant growth in the company's profitability in the US market. The company's expansion plans suggest a positive outlook for its future performance.
The record-breaking sales at MINISO's new Times Square store demonstrate a strong demand for the company's products in the US market. This, combined with the company's plans to expand its presence across the US, suggests a positive outlook for its future performance. The company's focus on IP licensed products and original designs, which carry higher unit prices and profit margins, also contributes to its profitability.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100