VANCOUVER, British Columbia, July 03, 2019 (GLOBE NEWSWIRE) -- Since entering into an interim agreement earlier this year, the owner of the international Miniso brand in China (Miniso Group) has been working closely with the licensed operator of Miniso stores in Canada, Migu Investments Inc. and its related entities (Migu), to normalize and revitalize the Canadian operations.
Over the past three months, Miniso Group has supported the retail operations in Canada by supplying 100 containers of new stock with a value of $8.5 million. An additional 40 container loads of stock destined for retail stores is on route to Canada to ensure retail outlets have full inventory.
Miniso Group has also supplied $1.5 million in working capital in support of Migu’s Canadian operations.
Miniso Group continues to work with Migu to develop a strategy to revitalize and grow the business in Canada.
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