Established in Tokyo, MINISO, the Japanese fast fashion designer brand, was jointly founded by Miyake Junya, the chief designer of MINISO, and Ye Guofu, the Chinese young entrepreneur. MINISO advocates fashionable and relaxed lifestyle and directs a superior products consumption pattern. MINISO pursues a “simple, natural and quality” life philosophy and a brand proposition of "coming back to nature, and reverting to the essence of products". It launches new products every seven days and the low-price but high quality products are popular among customers. MINISO positions itself as the fast fashion chain stores, whose core values gain popularity among consumers and lead the market to a new trend of “superior products consumption”. MINISO Co., Ltd. has been operated since 2013. It established in China in September of the same year, expanding across China since then. MINISO has been expanding globally since its establishment in 2013. It opened more than 1,000 stores around the world within 3 years, whose sales revenue reached RMB 5 billion in 2015 and approached RMB 10 billion in 2016. MINISO is regarded as a fierce competitor by some well-known enterprises such as UNIQLO, MUJI and Watsons. It is also deemed as “the biggest enemy” by the Chinese Apple distributor. Currently, MINISO has signed strategic cooperation agreements with more than 40 countries and regions, including the U.S., Canada, Russia, Singapore, Dubai, Korea, Malaysia, Hong Kong (China), and Macao (China) and Nigeria. On average, it opens 80 to 100 stores monthly.