Reuters exclusively reports China’s Miniso to double U.S. stores, add NY ‘flagship’ as pandemic slashes mall rents

Reuters exclusively reported that Chinese retailer Miniso Group plans to open a ‘flagship’ New York store and nearly double its U.S. outlets this year, betting post-pandemic shoppers on a budget will snap up cheap but fun goods for homes and work such as $10 soft toy cats and $4 staplers shaped like avocados. At less than 60 outlets, Miniso’s U.S. presence will still be dwarfed by giant low-price retailers like Dollar Tree, as well as its own home Chinese base of nearly 3,000 stores. But Miniso says it’s moving quickly to take advantage of lower rents in the pandemic-hit U.S. economy and ultimately sees potential for “thousands” of U.S. stores.