Get ready for cheaper products at Muji
Muji India slashed prices of 450 products in April, 2019. Customers found the products expensive. Its competitors from China and Korea…
Muji India slashed prices of 450 products in April, 2019. Customers found the products expensive. Its competitors from China and Korea, sell similar products at fraction of the cost. Muji started as a brand selling simple and beautiful products, at affordable prices.
In 2016 Muji set up its first store in Mumbai. It’s other stores are in Bengaluru and Delhi-NCR ( each in Noida and Delhi). It’s worldwide revenue for FY19 was $ 3.7bn. After slashing the prices, it plans to sell 200 made-in-India products. It will also observe local lifestyle trends to customise products for the local markets.
Chinese brand Miniso and Korean brand Mumuso price their products cheaper, and customise as per the Indian market. The lower price points open a wider market for the brands.