Japanese Dollarama competitor MINISO is opening Toronto store

A major Chinese retail brand is hoping to launch 500 stores in Canada, making it a potential competitor with Dollarama, Muji and perhaps even Uniqlo.

If you thought you had all your dollar store deals and Japanese retail cravings taken care of, think again and make room for Miniso.

Miniso is a variety store, which positions itself as a lifestyle brand. It gets new shipments every seven days at prices similar to those of Dollarama.

It's already opened a location in Vancouver (with another opening this spring and two more later this year) and it specializes in cosmetics, stationery, extremely cute plush toys, and housewares.

According to Retail Insider the brand plans to aggressively enter the Canadian market and open between 30 and 50 stores in Canada over the next 12 months. Several stores are reportedly being planned for Toronto. No official opening dates have been announced yet.