Japanese lifestyle giant Miniso announced Wednesday that it plans to open dozens of stores in Israel.
Miniso operates 1,800 low-cost variety stores across Asia, Europe, Australia, Africa, North America and South America.
The company plans to open 50 stores in Israel in the next five years and will invest 15 million shekels ($4.2 million) in launching its first 10 stores over the coming year. The first store, in Tel Aviv, is expected to open its doors in the next few months.
Miniso said it plans to offer about half of its products in Israel for just under NIS 20 ($6).
Last week, South Korea's Minigood chain announced it was exploring the option of opening three stores in Israel.
Minigood manufactures and markets bags and clothing, household goods, personal care and cosmetic products, office equipment, digital products and toys. It operates hundreds of stores in Asia and will likely arrive in Israel through a local franchise holder.
According to financial daily Globes, Minigood plans to open 10 outlets in Israel in the next two years.
