MINISO Targets 8,000 Jobs, 200 Outlets In Nigeria Come 2019.
MINSO, a Japanse low-cost retailer has disclosed its plans to open at least 200 outlets in Nigeria with a target to create 8,000 jobs within the country by 2019. They also plan to achieve at least 45 per cent local material procurement in its production line by 2020, as part of its backward integration in the country.
Speaking on the Investment opportunities, Mr Jason Zhou, the Franchise and Investment Manager said;
“MINISO has actively explored the international market and has opened more than 2,900 stores in over 60 countries within the years and is in the process of opening stores in 20 more countries. MINISO’s business turnover stands at $1.5billion in 2016 and nearly $1.9billion in 2017.”
He added that; “From the sales figures of our existing stores in the past 11 months, MINISO is one of the most profitable businesses in Nigeria that yields returns on investment between 10 – 18months.”
According to him, the brand is now offering Nigerian entrepreneurs and investors opportunity to own MINISO Store; explaining that:
“The process of investing in MINISO is simple, transparent and hassle-free. We have two investment models, known as the Franchising Model and, the Agent Model. The franchise model requires you to simply secure a store size of around 200M2 at any chosen location, shopping mall or high street. The rough budget for a 200M2 franchised store is about 70 – 80 Million Naira and it covers a one-year Franchise Fee, Product Deposit (refundable after the contract, Store Fitting-Out fee and shop space leasing charges).
The Franchise Specialist, MINISO Nigeria, Eze Igwe added that: “We launched the franchise two months ago and we already have two investments running while many more are underway.
Igwe who is a partner at 3rdRetail Africa, supporting the Miniso Retail Franchise Rollout in Nigeria, said; The franchise is the most profitable investments in Nigeria today and that before our rollout we did a lot of research on Nigerian retail market and we know that Nigeria is a good consumer market.”
“The brand’s products are of very high quality at competitive prices that cannot be matched.’’ He explained.
Miniso, stylized as MINISO, is a Japanese low-cost retailer and variety store chain that specializes in household and consumer goods including cosmetics, stationery, toys, and kitchenware.
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