Japan's Miniso to open 6 more Israeli stores

Miniso Photo: PR

Miniso plans to have 18 stores in Israel by the end of 2019.

Japanese design giant Miniso is opening six new stores in Israel at an investment of NIS 6 million, sources inform "Globes." Almost a year after its official launch, Miniso Israel, managed by CEO Einat Portugali, is expanding. The design products discount chain, which currently has seven branches in Israel, is moving into shopping malls all over Israel. According to the chain's business plan, it will have 18 stores by the end of 2019. Miniso launched its Israeli activity in August 2018.

The six new stores will be opened in the HaZahav Mall in Rishon Lezion, BIG Fashion Danilof Tiberias, BIG Fashion Nazareth, Dizengoff Center (Tel Aviv), Azrieli Ramla Mall, and BIG Fashion Bat Yam. The new stores will have an average area of 180 square meters.

As reported by "Globes," the first new store, which will be opened this Thursday in HaZahav Mall, will replace the Golf chain store there, which moved after the rent for the store was increased sharply. In response to a query from "Globes," HaZahav's management confirmed that Miniso had taken the space currently occupied by Golf at an especially high rent: "Rent of NIS 400, amounting to NIS 497 including management fees."

This high rent is liable to constitute a burden in the future for the Japanese chain, which specializes in stylish stock items at fairly cheap prices. The store will have to generate high proceeds in order to make a profit. At the same time, together with its stores in centrally located malls such as Azrieli Tel Aviv and the branch scheduled to open in Dizengoff Center, Miniso is also entering the open-air malls of the BIG group, in which rents are usually lower.

Published by Globes, Israel business news - en.globes.co.il - on June 4, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Miniso Photo: PR
Miniso Photo: PR
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