Chinese retailer Miniso Group plans a 40,000 stores global network to benefit from "interest-driven" consumption by offering popular entertainment franchise products, South China Morning Post reported Thursday, citing top executives.

The executives understand the importance of Europe and the US as markets, especially for their brand of products. Miniso has over 150 brand partnerships with franchises like Harry Potter and Barbie. The Guangzhou-based company identified the United States and Europe as key markets for expansion, with spending on franchise-related products being 25 times higher in the UK than in China and 60 times higher in the US, the publication said.

Only 478 out of the 7,000 Miniso stores are located in North America and Europe, driving in about 11.6% of the revenue. There are a total of 2,700 overseas stores of the company. The retailer aims to reach 10,000 stores by 2027, the SCMP said.

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