Miniso, a Japanese retailing chain popular for affordable fashion and lifestyle products, opened three outlets in the Vietnamese capital Hanoi Saturday.

The stores in downtown Cau Giay, Dong Da and Hoan Kiem Districts are the first of 12 planned in the city, Ho Chi Minh City and four other cities and provinces this year, Vietnam News Agency reported.

Miniso spokespersons have said they consider Vietnam a bridge to the Southeast Asian market and expect to open 200 stores in the country in the next five years, selling more than 10,000 products including fashion accessories, cosmetics and home decorations at prices starting from VND43,000, or around US$2.

Founded in 2013, Miniso has opened 1,600 stores in 22 countries and territories, including China, Italy and the US, and reportedly raked in nearly $700 million in sales in Asia alone last year.