GUANGZHOU, China, Oct. 1, 2018 /PRNewswire/ -- On September 30, a famous retail company, MINISO, announced that it has signed a strategic investment agreement with Tencent and Hillhouse Capital for a total of RMB 1 billion.
This is the first external financing of MINISO since its founding in 2013. In the past 5 years, by adhering to the business philosophy of "High Quality and Low Price" and through the transformation of the supply chain, MINISO has explored a unique and novel business model in the field of retail. It has opened more than 3,000 stores worldwide and around one billion visits and 300 million purchases have been made by its guests. MINISO is considered to be the representative enterprise in the new retail era, with an impressive speed of expansion.
In 2015, MINISO launched its internationalization strategy and started opening up overseas markets. At present, more than 1,000 out of the over 3,000 MINISO stores in the world are overseas stores, which are located in more than 70 countries and regions, and the market is still expanding rapidly. The medium-term strategic goal of MINISO is "Opening 10,000 Stores in 100 Countries with RMB 100 Billion Sales" – it will have entered 100 countries and regions by 2022, with an annual revenue of RMB 100 billion and 10,000 stores worldwide.
Accepting the strategic investment from Tencent and Hillhouse Capital this time is mainly because MINISO values the coordination brought by the trilateral cooperation, and the three companies will enhance cooperation in big data analysis, smart outlets, intelligent retail, digital operation, etc. The investment of Tencent and Hillhouse Capital will help the future development of MINISO by improving its ability in terms of information technology, capital operation, corporate governance, etc. The investment will also expand its layout in the field of intelligent retail and accelerate overseas market expansion, so as to help MINISO achieve its medium-term strategic goals.
Tencent is China's leading provider of Internet value-added service, with the nation's largest social networking platform. Based on its strong social platform and big data technology, Tencent provides its users with diversified digital content and helps advertisers reach hundreds of millions of Chinese consumers.
Hillhouse Capital is a company focused on long-term value investment, aiming at creating sustainable long-term growth. Through scientific and technological innovation, Hillhouse Capital is committed to looking for the best entrepreneurs and management teams to create value together throughout the world, especially in Asia. The investments of Hillhouse Capital cover areas such as TMT, healthcare, consumption and corporate services, and span all stages of equity investment.