Chinese low-cost and variety store chain MINISO announced that it has entered into a RMB1 billion (US$145 million) strategic investment agreement with the country’s internet giant Tencent Holdings Limited and investment management firm Hillhouse Capital Group. MINISO sealed the strategic investment in pursuit of trilateral cooperation, said the company in a statement on October 1. This is the first time Chinese dime store firm has introduced external financing since its inception in 2013. The Guangzhou-based company, known as an imitator of …

Tencent, Hillhouse Capital Seal $145M Strategic Investment Deal With Chinese Dime Store Chain MINISO appeared first on China Money Network.