MINISO, fondly coined as the ‘Japanese Ikea’ is taking Spain by storm
A Chinese multinational inspired by Japanese design concepts already has 27 stores in Spain and shows no signs of slowing down. Founded by Chinese businessman Ye Guofo, Miniso has been fondly called the ‘Japanese Ikea’ as it sells everything from larger furniture items to unique and kitsch decorative pieces. Founded in 2013, the brand now has more than 4,300 stores across 80 countries including Canada, the United States, Spain, Australia, UAE, India and Mexico.
Its eclectic mix of products stems from the fact that Miniso collaborates with some of the most diverse and popular brands on the planet, including Coca-Cola, Hello Kitty and Marvel.
The company’s motto is: “A better life has nothing to do with price” as it hopes its image will create “a feeling of happiness and a feeling of joy.”
Ikea, meanwhile, has warned that its supply chain could be interrupted following several days in which some 250 boats were trapped in the Suez Canal after the Ever Given ship became stranded. Several containers of Ikea products were left floating in the passage but at the time the company said it was doing all it could to ensure product availability.
The blockage in the canal is expected to have an impact on 28,000 businesses in the Valencian region alone, since twenty-five per cent of Valencia Port’s maritime trade is carried out with Asia via Suez.
Around 12 per cent of the world’s freight and oil tanker traffic passes through the canal, and the jam will result in Spanish imports and exports having to take a more circuitous route, a cost which is sure to be passed on to the consumer, Jordi Espin Vallbona, Secretary General of Transprime and policy manager for maritime transport at the European Shippers’ Council told Spanish daily 20 minutes.
“Surcharges, one way or another, always end up having an impact on the end customer,” he said.