Miniso, a popular Japanese chain stores of affordable fashion and lifestyle products, is set open its first three outlets in Vietnam this August, local media reported on Thursday.
By 2021, Vietnam will be home to 200 Miniso stores, Le Thi Ngoc Hai, chairwoman of Le Bao Minh Group, which bought the franchise, told news website VnExpress.
More than 10,000 products such as fashion accessories, cosmetics and home decorations will be sold at Miniso stores in Vietnam with prices starting from VND43,000, she said.
Founded in 2013, Miniso has opened 1,600 stores around the world, such as China, Italy and the US. It reportedly raked in nearly US$700 million in sales in Asia alone last year.
Le Bao Minh Group is best known as the exclusive distributor of Japan's Canon with more than 230 stores around Vietnam, according to the website.