Latin America News Q1 2018

22 LATIN AMERICA NEWS / Q1 2018 , On January 30, 2018, Japanese designer brand MINISO formally reached a strategic agreement with Miniso Colombia SAS in MINISO Industrial Park. Both sides attached great importance to the cooperation. Mr. Ye Guofu, global co-founder and CEO of MINISO, and Eduardo Tishman and Enrique Smolensky, the representatives from Colombian partner Miniso Colombia SAS, were present at the signing ceremony, showing their expectations on the development of MINISO in Colombia. The cooperation between MINISO and Miniso Colombia SAS is an important step for the brand to explore globally after reaching cooperation with other Latin American countries such as Brazil and Mexico. Mr. Ye Guofu indicated at the signing ceremony that, MINISO will step up its growth and expansion in accordance with its five-year plan, aiming to achieve the brand development goal of “hundreds of cooperating countries, hundreds of billions of sales and thousands of stores” by 2022. As the first country that MINISO has expanded into in the new year, Colombia is of great significance to the brand. MINISO wishes to join hands with Colombia to bring high-quality and intelligent consumer products to local consumers and enrich the choices of shopping for local consumers. It will also lay a good foundation for MINISO to further develop in the South American market. Colombia is located in the northwest of South America with the Pacific Ocean in the west, the Caribbean in the north, Venezuela in the east, Brazil in the southeast, Peru and Ecuador in the south, and Panama in the northwest. It is a member of the National Union of South America, and it has a developed economy, transportation infrastructure and tourism industry. In addition, Colombia has long-term macroeconomic stability and good growth prospects, diversified economy, and a medium-ranking power, Latin America’s fourth- largest economy, which is one of the emerging markets in the world. The cooperation between MINISO and Miniso Colombia SAS is a huge opportunity for both sides. With the principle of “high quality and affordability,” MINISO devotes itself to providing a stress-free and comfortable shopping experience for global consumers. MINISO has its unique vision and mode in producing intelligent, simple and comfortable products. The brand has adopted a strict selection mode for cooperating suppliers, selected high-quality suppliers and suitable and high-quality raw materials in the world, and controls product prices with large- scale procurement. Besides that, MINISO has also brought together a number of designers from Japan and northern Europe, including a team that has won the “German Red Dot Designer Award”, so as to provide simple, natural and quality products for consumers. Since its establishment, MINISO has followed the principle of “customer first” and adjusts the supply of goods to meet the diverse needs of consumers in different regions of the world. Therefore, MINISO has gained trust and love from consumers around the world. In the future, MINISO will provide products in line with local consumer demand and aesthetics according to the needs and tastes of Colombian consumers. So far, over 60 countries and regions have reached strategic cooperation agreements with MINISO. It has successfully opened more than 2,600 stores throughout Asia, North America, South America, Oceania, Europe and Africa. In the future, MINISO will develop in more countries with the concept of “product localization and talent localization”, and bring high-quality goods to more consumers. Japanese Designer Builds Presence in Latin America MINISO to launch in Colombia, speeding up the process of internationalization.