Carlos Slim sets his eyes on Miniso

Sanborns

, a company owned by Grupo Carso , has reached a non-binding agreement to invest in Miniso , a store that sells low-cost products.

“Sanborns Group

informs the investors that it has reached a non-binding agreement with Miniso for a possible minority investmen t,” said the statement sent to Mexican Stock Exchange (BMV) .

Sanborns

, owned by Carlos Slim , added that if it reaches a final agreement, the formalization and execution of the agreements, it will need the necessary authorizations.

Miniso

has recently opened stores in Mexico City, Mexico, Morelos, Puebla, Hidalgo, Querétaro, Jalisco, Aguascalientes, Guanajuato, Quintana Roo, Veracruz, Yucatán, Colima, Nuevo León, Michoacán, and Chiapas .

Despite its success, Miniso 's origin is still unclear. The company brands itself as Japanese but it is claimed in mainly operates in China and many of its products are manufactured there. It also has headquarters in both China and Tokyo .

Experts anticipate 30% drop in Mexico’s foreign investment inflow

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