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MINISO Group Holding Limited (NYSE: MNSO; HKEX: 9896) is a global value retailer known for its wide array of trendy lifestyle products. Founded in 2013 and headquartered in Guangzhou, China, MINISO has quickly become a prominent name in the retail sector due to its vast network of stores and commitment to high-quality, aesthetically pleasing, and affordable products.
As a retailer, MINISO offers a broad range of items including home decor, small electronics, textiles, accessories, beauty tools, toys, cosmetics, personal care products, snacks, fragrances, perfumes, and stationery. The company operates primarily through its flagship MINISO brand, which focuses on design-led lifestyle products. It also operates the TOP TOY brand, which specializes in pop toys. MINISO generates the majority of its revenue from the MINISO brand, and a significant portion of this revenue comes from its extensive operations in China.
MINISO's unique business model emphasizes creating a treasure-hunting shopping experience that appeals to a broad demographic. This approach has allowed the company to build a massive global store network, which includes over 6,400 stores worldwide. The company's growth is fueled by frequent product rollouts that maintain a balance between trendy design, quality, and affordability.
Recent Achievements and Developments
- Financial Performance: For the December quarter of 2023, MINISO reported a revenue increase of 54% year-over-year to RMB3.84 billion. This growth was driven by a 32% increase in same-store sales in China and a 19% increase in overseas markets. The company's gross margin for the quarter reached 43.1%, and adjusted net profit rose by 77% year-over-year.
- Store Expansion: In 2023, MINISO added over 1,000 new stores globally, marking its fastest pace of store openings. The company plans to continue this growth trajectory with the aim of adding 900-1,100 net new stores annually from 2024 to 2028.
- IP Collaborations: MINISO has leveraged IP collaborations to enhance its product offerings and customer experience. Notable partnerships include collaborations with Sanrio, Barbie, Disney, Minions, and Care Bears. These collaborations have significantly contributed to the company's revenue, particularly in the North American market where IP products have driven a 128% annual revenue growth.
- Strategic Initiatives: The company is committed to becoming the world's leading IP design retail group. This strategy involves focusing on production innovation, affordability, and globalization. MINISO hosted an Investor Day in January 2024 to outline its five-year development plan, which includes maintaining a revenue compound annual growth rate of at least 20%.
- Dividend Declarations: In March 2024, the company declared a special cash dividend amounting to RMB651.5 million, approximately 50% of its adjusted net profit for the second half of 2023. Since its IPO, MINISO has returned RMB2.8 billion to shareholders.
- Operational Excellence: MINISO's robust supply chain, innovative product development, and strategic global expansion have positioned it well to optimize its expense structure and sustain a healthy margin profile.
MINISO's commitment to delivering happiness through its innovative and affordable products has resonated well with consumers worldwide. The company's strategic focus on IP product development, supply chain integration, and steady global expansion continues to drive its growth and profitability.
MINISO Group (NYSE: MNSO) reported strong financial results for the first nine months of 2024. Revenue increased 22.8% year over year to RMB12,281.3 million, driven by 18.5% store count growth and low-single digit same-store sales growth. Gross profit rose 34.1% to RMB5,419.8 million, with gross margin expanding to 44.1%. The company's global store network reached 7,420 locations, adding 859 net new stores. Overseas revenue contribution increased to 37% from 32% last year. Operating profit grew 14.3% to RMB2,347.4 million, while adjusted net profit increased 13.7% to RMB1,928.1 million.
MINISO Group (NYSE: MNSO; HKEX: 9896) has announced an extraordinary general meeting (EGM) scheduled for January 17, 2025, in Hong Kong. The meeting's primary purpose is to seek shareholder approval for the proposed acquisition of a 29.4% stake in Yonghui Superstores Co., The acquisition agreement was previously announced in September 2024 through MINISO's PRC subsidiary. Shareholders of record as of December 6, 2024, are eligible to vote at the EGM, with specific voting instructions provided for ADS holders through The Bank of New York Mellon.
MINISO has launched a global collection of over 800 Harry Potter-inspired products across various categories including plush toys, pet products, cups, toys, stationery, gifts, and fragrances. The collection features designs incorporating iconic elements from the Harry Potter films, such as Hogwarts house themes, the Golden Snitch, and beloved characters. Products are available in multiple countries including the United States, Canada, Malaysia, the United Kingdom, and France, with plans to expand to over 80 countries worldwide. Special themed store displays and pop-ups have been implemented in locations like the Irvine Spectrum Center and Hong Kong. MINISO plans to continue expanding the collection with new items through 2025.
MINISO Group (NYSE: MNSO; HKEX: 9896) announced it will release its September quarter 2024 financial results before U.S. market opens on November 29, 2024. Management will host an earnings conference call at 4:00 A.M. Eastern Time (5:00 P.M. Beijing Time) on the same day, with simultaneous English interpretation available. The company, a global value retailer of trendy lifestyle products with IP design, operates through its MINISO store network since 2013, focusing on aesthetically pleasing design, quality, and affordability.
MINISO announced significant achievements at its Global Brand Strategic Upgrade Results Launch Conference 2024 in Shanghai. The company has partnered with over 150 global IPs, including Harry Potter and Disney, generating over 10 billion RMB in IP product sales. MINISO operates in 111 countries with 2,753 stores outside mainland China, implementing a seven-tier store format. The company launched MINISO LAND, its first scenario-based IP collection store in Shanghai, and introduced MINISO FRIENDS format targeting Gen-Z customers. The company has over 100 million registered members globally, with overseas membership growing 63% since 2024.
MINISO opened its newest IP Collection Store at Toronto's Eaton Centre on October 19, featuring Sanrio characters. The 300-square-meter store showcases various themed sections including Sanrio, Harry Potter, Loopy, and Barbie collections. The store marks the Canadian debut of MINISO's Harry Potter collection, which has been successful in Hong Kong and globally. The location features dedicated zones for perfumes, personal care, cosmetics, and electronics. The opening celebration included a live DJ, ribbon-cutting ceremony, and special promotions. This expansion follows the success of MINISO's West Vancouver flagship store, with more locations planned across Canada.
MINISO opened its new Vancouver flagship store at CF Richmond Centre on September 28, 2024. The 3500-square-feet pink-themed store offers around 3000 SKUs, including collaborations with Disney, Sanrio, BT21, Chiikawa, and Zanmang Loopy. The store features unique installations like a pink Ferris wheel and an interactive makeup area.
The opening celebration included live performances, photo booths, and special promotions. This flagship marks a key step in MINISO's strategic expansion across Canada, with plans to open more stores in 2024, including a themed store at Eaton Centre and locations across Quebec. The brand aims to bring joyful shopping experiences to a wider audience through innovative designs and expanded IP product sections.
MINISO Group announced a significant acquisition, entering into share purchase agreements to acquire 29.4% of Yonghui Superstores for RMB6.3 billion. This transaction will make MINISO the largest single shareholder of Yonghui, a leading retail chain in China with approximately 850 supermarkets and 2023 revenue of RMB78.6 billion. The acquisition involves purchasing shares from subsidiaries of DFI Retail Group Holdings and JD.com. The purchase price of RMB2.35 per share represents a 3.1% premium to Yonghui's recent closing price. The deal, expected to close in the first half of 2025, is subject to regulatory approvals and shareholder consent. MINISO plans to fund the acquisition through internal resources and external financing. The company aims to leverage this acquisition to enhance economies of scale, optimize cost structures, and diversify its business portfolio.
MINISO, the global lifestyle brand, has opened its first Sanrio-themed store in Australia on September 7th, 2024. Located on George Street in Sydney, this 300 square meter flagship store offers over 2,500 SKUs, with 70% of products being IP-related. The store features popular Sanrio characters like Kuromi, Melody, and Cinnamoroll, as well as Disney and BT21 products. During its opening weekend, the store set a new record for highest sales per square meter among all MINISO stores. To celebrate the launch, MINISO introduced a -edition 'Kroo Bag' inspired by Australia's iconic kangaroo. The company plans to expand its presence in key Australian cities, upgrading existing stores and targeting both prime business districts and emerging areas.
MINISO has opened its largest global flagship store in Jakarta, Indonesia, spanning 3,000 square meters. The store, designed as a 'Dream Castle Amusement Park,' features eight product categories and three themed IP zones. This launch is part of MINISO's 'Super IP + Super Store' concept, blending globally recognized IPs with innovative retail environments.
The grand opening on August 31 set a new global single-day sales record of RMB 1.18 million (over USD 166,000) for a single MINISO store. Since entering Indonesia in 2017, MINISO has expanded to over 300 stores nationwide. The company plans to accelerate its expansion across Southeast Asia and globally, aiming to open 900 to 1,100 new stores annually over the next five years.
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