Chinese lifestyle retailer Miniso (9896) has opened a large store in Causeway Bay with a monthly rent of HK$400,000 in a bid to expand its Hong Kong market, local media reported.
Miniso has leased a 6,223-square-foot property on East Point Road in Causeway Bay, owned by a company under the late Macau casino tycoon Stanley Ho Hung-sun’s fourth wife, Angela Leong On-kei.
The store will serve as the brand’s flagship location.
Costing around HK$64 per square foot, the rent is significantly lower than the property's peak rental price of around HK$2.2 million per month, marking an 82 percent decrease.
Miniso also announced on its Facebook page that the flagship store will feature Hong Kong's first Stitch-themed store, which is set to open on April 26.
Stitch is a fictional character from Disney's Lilo & Stitch franchise.
Miniso currently operates 7,780 stores in the mainland.
It opened the first Hong Kong store in Yuen Long on November 2014.
Earlier, Bloomberg reported that Miniso is considering spinning off and listing its Top Toy brand in Hong Kong.
STAFF REPORTER
