When Your Home Market Weakens, Expand Overseas

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In an interview with the Financial Times, chief financial officer Eason Zhang said low-cost China-based retailer Miniso plans to open roughly 400 stores in China, but this year would be the first since at least 2019 that most of its new outlets were outside the country.

Minis will shift its focus of rapid expansion away from a domestic market – China – plagued by weak consumption.  Further, the falling cost of goods produced in China’s factories is also making them more competitive abroad.

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