Hillhouse, Tencent back Chinese low-cost retailer Miniso
Miniso, a fast-growing Chinese low-cost retailer, has received RMB1 billion ($145.5 million) in funding from Tencent Holdings and Hillhouse Capital. The proceeds will be used for international expansion and smart retail initiatives.
Founded in 2013 by Chinese entrepreneur Guofo Ye and Japanese designer Miyake Junya, the company operates over 2,000 stores in China and a further 1,000 overseas. Miniso’s footprint covers about 70 countries,...
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