MINISO, a Japanese fast fashion designer brand, MINISO was jointly founded by Japanese designer Miyake Junya and Chinese entrepreneur Ye Guofu in 2013 in Tokyo. MINISO advocates fashionable and relaxed lifestyle and directs a superior products consumption pattern, mainly focused on the commodities of leisure life, which includes Health and Beauty, Fashion Accessories, Digital Products, Exquisite Bags, Creative Homeware, Seasonal Products, Life Department, Stationery and Gifts, Toy Series and Textile. MINISO pursues a “simple, natural and quality” life philosophy and a brand proposition of "simplicity and going back to the essence". 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”. It has been expanding globally since its establishment in 2013. It has opened more than 2700 stores and covered more than 50 countries within four years and its revenue hit USD 1.5 Billion in 2016, reached USD 1.8 Million by 2017. It is also 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.