Tuesday, March 12, 2013
Minit Asia Pacific Plans 10-fold Increase In Chinese Chain
TOKYO (Nikkei)--Minit Asia Pacific Co. plans to increase the number of Mister Minit shoe repair shops it has in China from 10 at present to around 100 in three years.
The company plans to open shops in train stations as it does in Japan. Its existing Chinese stores are in department stores and high-end supermarkets.
- A Mister Minit store in Shanghai.
The company's first shop in a Chinese train station will open in Shanghai this year, after which train-station locations will be added in other major metropolitan areas. Because train stations in China are operated by local municipalities, the company has to enter lease agreements with government agencies.
The Mister Minit shops in Japanese stations have just 10-15 sq. meters of floor space, but the shops in China will be about twice as large. In addition to shoe repair services, they will sell a wider array of insoles, shoe polish and brushes than their Japanese counterparts.
The shops will be staffed by personnel hired locally and trained by staff from Japan.
Minit Asia Pacific is expected to generate 12.6 billion in sales for the fiscal year ending this month. Around 40% of its sales come from overseas at present, a figure the company aims to boost to more than 50% by accelerating store openings in Asia.
(The Nikkei Business Daily, March 12 edition)