Tell us how you started?
I have been in the M&E industry for almost 30 years now. It just so happened that I met an old friend of mine who was the main Miniso franchiser in China. He convinced me to do this business, and we started in January 2016 with our first outlet in IOI City Mall. Things grew from there and to date we have 37 stores in Malaysia.
What made you want to try a new venture different from your background?
First of all, it was because of my friend. Second, these were lifestyle products that was of good quality, and at an affordable price. Also, the nature of this business were sales on cash term basis, which gave me some ease from worrying about bad debts.
What makes your product unique?
Definitely good quality, affordable price and nice packaging. If you compare an RM10 product from the ‘pasar malam’ or gadget shops with Miniso products, you can see that our products have better quality.
How do you promote?
We must follow the digital and online trends. My daughter is in charge of marketing such as Facebook, and we will be having a big launch with Shopee this March. Our marketing team are young and savvy with the latest technologies.
What makes your business strong?
I need to have good cashflow management and ready stocks. We also have our own lorries which give us better control on the timeliness of deliveries. Most importantly, we have a good and dedicated team that believes in the Company.
|“In this business, we need to pay first before shipment…”
|Mr. Lee and his team operates from their headquarters in Seri Kembangan
What was hard when you first started?
When I first started, I had no experience in retail. I applied whatever I can from my previous experience and worked hard to build my image and trust with the people that I deal with.
What’s next for Miniso Malaysia?
We plan to open another 30 outlets including small towns like Muar and Segamat.