The “Dollar Store” War in India
The competition to become The Indian “Dollar Store” has reached its zenith. The battle for authenticity will only get more fierce as more international companies enter the Indian retail industry. The following is a list of some significant players building their brand presence:
Japanese designer Mr. Miyake Junya and a youthful Chinese businessman Mr. Ye Guofu co-founded MINISO in Tokyo, Japan, with the former functioning as head designer. MINISO is a proponent of “intelligent consumer items” on a worldwide scale. Founded in 2013 by MINISO Industries Co., Ltd., MINISO debuted in Chinese market in September of that same year in order to fully penetrate the country’s market for intelligent consumer goods. In India, it debuted in August 2017. Since its establishment in Japan in 2013, MINISO has vigorously explored the global market and built more than 2600 outlets. With an average monthly growth rate of 80–100 stores, MINISO currently has strategic cooperation agreements with more than 60 nations and regions, including Indonesia, South Korea, Hong Kong, the Philippines, Thailand, Vietnam, Mexico, Singapore, Malaysia, Turkey, Canada, Australia, Brazil, Pakistan, Taiwan, India, South Africa, the United States, and Russia.
Please go to www.minisoindia.com.
XIMIVOGUE is a designer brand with a foundation in Korea that runs franchised retail locations for fast fashion items. It was founded in 2015. The XIMIVOGUE main office is located in China’s Guangzhou International Finance Center and is operated by Zhejiang Xi Bin Import and Export Co. Ltd. Customers all around the world, who are mostly between the ages of 12 and 40, have come to like and appreciate the brand. Products from XIMIVOGUE are routinely updated and affordably priced. The majority of items are priced between USD1.5 and USD10, which has helped the brand expand significantly throughout 64 areas, including Australia, Canada, India, Russia, Singapore, Spain, the United Arab Emirates, and many more. Currently, the brand opens 80 to 100 new stores every month all over the world.
Click here to go to ximivogueretail.com.
MUJI, which was first established in Japan in 1980, has a huge selection of high-quality goods, including clothing, food, and home goods.
No-brand quality items, or MUJI in Japanese, are known as Mujirushi Ryohin.
In order to produce straightforward, inexpensive, high-quality goods, the production process was thoroughly rationalised at its inception.
More than 7,000 products, including apparel, furniture, food, and even residences, are sold in over 700 MUJI stores worldwide.
Visit the Muji website.
A company called MUMUSO specialises in providing goods with a chic and current style. The brand founder registered the MUMUSO brand and thus its trademark in Korea in 2014 after being influenced by Korean fashion trends that fuse cultural heritage with modern society. The brand founder is dedicated to selling products with dependable quality and reasonable prices in addition to bringing the concept of “easy life” to people and spreading the tenacious, everlasting spirit of hibiscus throughout the world.
Check out www.mumuso.com
Beccos, which stands out for its unusual designs and aesthetic principles, guarantees to provide the most delicious goods at reasonable costs. Beccos focuses on a wide range of products, including Creative housewares, Digital accessories, Boutique & pouches, Stationery & gift items, Stuffed animals, Seasonal goods, Household products, Personal care products, Health and wellness and outdoor products, and Babycare, all of which have been painstakingly crafted through the integration of R&D and innovative designs. The company is made up of a team of ground-breaking designers.
Check out www.beccos.com
Notably, the bulk of the businesses on this notion source their goods mostly from Bangladesh, Singapore, Japan, Bangladesh, South Korea, and Thailand for cosmetics. With the exception of a handful, the most of them have chosen to grow their presence in the Indian retail sector through franchising with profitable investment models and building company-owned locations. Building brand allegiance in Indian retail, where the average client is constantly seeking for an inexpensive and reduced quality product, would be a difficult battle for the companies.