The Nigerian unit of the Japanese retail chain, MINISO, says it plans to achieve at least 45 per cent local materials procurement in its production line by 2020, as part of its backward integration in the country.
The firm, which aims at exploiting the opportunities in the retail sector of the economy and widely reputed as one of the fastest growing outlets in the world, said it plans to open at least 200 outlets in Nigeria next year that will create about 8,000 jobs locally.
Unveiling its plans in Lagos on Wednesday, the management of the chain, told journalists that ahead of its proposed content localization, it is already in talks with local manufacturers and vigorously pursuing the possibility of sourcing 45 per cent of its production materials locally.
In line with its growth plan and job-creation strategies, the Franchise Specialist, MINISO Nigeria, Eze Igwe, explained that the retail chain, now marking its first anniversary in the country, opened its franchise and agency business opportunities two months ago. Igwe said: “We have also opened applications from qualified partners with high integrity and good track record, to join our expansion plan. Right now, MINISO has the most lucrative opportunity because the risks have been highly mitigated and the issue of shortage of goods will never arise, as we manufacture all our products. Also, our prices are stable and cannot be matched by competition.”
In his overview of the firm, its Managing Director, Key Yang, described MINISO as a Japanese lifestyle designer retail brand, which was founded in 2013, by two notable gentlemen in Tokyo, Japan.
The firm’s product focus is mainly on leisure lifestyle, which includes creative home ware, health and beauty, fashion accessories, digital accessories, stationery & gifts, unique toys series, seasonal products, Kitchen ware etc.
