Abstract: Internationalization is one of the most intensive trends among many retailing magnates in recent decades. However, there are few successfully internationalized retailing enterprises in China and few researches are conducted in the context of Chinese retailing industry. This paper examines the internationalization process including business model and critical incidents of MINISO, a Chinese chain retailing enterprise that has internationalized at a fast speed rarely seen, and identifies critical success factors for its internationalization based on Wuli-Shili-Renli system approach. We show that MINISO, under the guide of virtual retail enterprise model, rolls out stores globally through franchise system innovation, supply chain integration and brand exportation externally and improves the value of its supply chain and brand internally by utilizing ambidextrous innovation capability. This paper enriches the retail internationalization study by adding Chinese cases into the analytic framework, and indirectly proposes a strategic decision-making model of retail internationalization.

Key words: Wuli-Shili-Renli system approach, virtual retail enterprise model, retail internationalization, supply chain management, MINISO