Chinese retailer Miniso plans to open 92 new stores in Mexico this year, increasing its presence to a total of 200 stores.

The company said the new store openings were part of a larger push to expand into new markets in Latin America, in addition to reinforcing its presence in Panama, Colombia and Mexico.

The low-cost retailer and variety store chain has also attracted the interest of significant investors. In February, Grupo Sanborns announced that it had reached an agreement to invest in the company.

“Miniso has been a success since it was introduced [to the Mexican market] in 2016,” said marketing director César Medina.

Although Miniso has not yet reached Baja California or Sonora for logistical reasons, he said, it has stores in central Mexico, the Bajío region and in Monterrey, the three areas where it first opened.

It has since expanded into the Riviera Maya, Mérida, Oaxaca and Chiapas. “At our current pace, we are opening a new store every two weeks,” Medina said.

The company said each of its Mexican stores sees an average of 1,500 shoppers per day, 29% of whom make a purchase. That number is on the rise, along with the number of Mexican businesses interested in opening local franchises.

Last week, the company launched a new marketing campaign called “Efecto Miniso.” The 25-million-peso program is giving away nearly 20,000 stuffed animals, and asks recipients to take photos with their new stuffed companions and share them on social media.

Sales of stuffed animals account for 10% of Miniso’s total sales in Mexico.

Source: El Economista (sp)