Miniso, a Japanese lifestyle designer retail brand says it will employ about 8,000 Nigerian by 2019 as it plans to open 200 retail shops across the country.
Also, by 2020 Miniso is committed to procure most of its raw materials locally. The firm from inception in 2013, 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 USD 1.5 Billion in 2016 and nearly USD 1.9 billion in 2017.
“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”, Jason Zhou, Franchise and investment manager said.
The firm has two investment models. These are the franchising model and the agent model. The franchise model requires an investor to simply secure a store size of around 200M2 at any choice location, shopping mall or high street.
The agent model on the other hand, takes a slightly different dimension as an investors is required to secure a store size of around 200M2 at any location of choice, but an agent is required to pay a compliance deposit (refundable) which ensures the agents maintain Miniso operation standards, then the agent reserves the right to operate as a Miniso representative under the expert supervision from Miniso to ensure all standards are met.
With more than 60,000 SKUs, the firm bases high importance on giving quality materials, for its product manufacture, design and development.
Eze Igwe, minso franshise specialist, admitted that the Nigerian retail sector is fast growing, and there are a lot of players coming into the Nigerian space to tap into opportunities in terms of returns and investments.
However, he said Miniso is offering a very huge opportunity to investors in Nigeria to sign up as franchises. “the difference with the regular franchises that you are used to, is that this is a brand that gives you the opportunity to earn from the total sales as against profit and this is important for every business man because that is what investment is”.
“We are talking about a situation where all sales made in the store, the investor is capable of giving 40 per cent of the turnover not 40 per cent of the profit, it is important that is emphasized so that those who are attracted to theses opportunity understand the huge benefit in it. What we have been doing for the past couple of months, is to establish a kind of trend with all of our stores”.
The flagship store in Nigeria was opened on the September 10, 2017 in Circle Mall, Lekki, Lagos. Also, 11 stores have since been opened across Nigeria in Ikeja City Mall; Palms Mall, Victoria Island; Novare Mall, Sango-tedo; Maryland Mall; Festival Mall, Festac; MMA2 (Departure Lounge); Jericho Mall, Ibadan; Palms Mall, Ibadan; Apo Mall, Abuja; Jabi Lake Mall, Abuja and Gateway Mall in Abuja between September 2017 and March 2018. 4 others stores are set to open at Surulere, Lagos; Abuja and Port Harcourt. By the end of 2018, Miniso would have successfully reached the south-eastern states of Nigeria as documentation processes are being concluded for over 10 stores.
