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‘As big as Nike’: Miniso founder states his aim as Chinese variety chain opens flagship store in New York’s Times Square

  • ‘Consumers will use Miniso’s products like they turn to Nike for sneakers, Starbucks for coffee and Coke for drinks,’ says boss
  • The low-cost lifestyle retailer opened its shop in Times Square on Friday to much fanfare

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Miniso’s shop at Times Square in New York City. Photo: Handout

New York City’s Times Square was abuzz with cheerful beats on Friday as hip-hop DJs, chic in cutting-edge headphones and the latest designer sunglasses, brushed shoulders with famed influencers broadcasting to their millions of Instagram and Tiktok followers.

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Amid the throng of fashionistas and online celebrities, the real centre of attention was a blue stuffed penguin called Pen Pen posing for photographs with delighted guests.

Pen Pen is the mascot of Chinese budget lifestyle goods retailer Miniso Group Holdings, and the festivities were in honour of the opening of the company’s “global flagship store” in the famous US shopping district.

Long queues of excited teenagers waited for giveaways, raffles and Miniso vouchers in front of the bright cream-colored, 400 square-metre shop.

One person missing was billionaire Ye Guofu, Miniso’s 45-year-old CEO, who founded the Hong Kong and US dual-listed company in 2013.
Not short of ambition: Miniso founder Ye Guofu wants to make the company as big as Nike. Photo: Getty Images
Not short of ambition: Miniso founder Ye Guofu wants to make the company as big as Nike. Photo: Getty Images

He did not stop to rest on what he called “the biggest milestone” so far in the 10-year history of the company. Ye was in Europe, busily looking for opportunities there to open more “mega” shops like the one in the Big Apple.

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