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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; HKEX: 9896) announced that its extraordinary general meeting (EGM) was successfully held in Hong Kong on January 17, 2025. The shareholders approved all proposed resolutions related to the company's planned acquisition of shares in Yonghui Superstores Co., . The company expects to finalize the acquisition once all remaining closing conditions outlined in the share purchase agreements are either satisfied or waived.
MINISO celebrated the grand opening of its Thailand flagship store in Bangkok's Asiatique the Riverfront on January 11, 2025. The store, located next to Bangkok's largest Ferris wheel, features over 20 IP collections including Harry Potter and Disney series.
The flagship store represents a significant milestone in MINISO's Southeast Asian expansion strategy, featuring immersive IP-themed experience zones and extensive product lineups. The company has implemented 'super store' and 'super IP' strategies across Southeast Asia, including the opening of its largest global store in Jakarta (3,000 square meters) in August 2024 and its largest Singapore store at PLQ Mall in December 2024.
MINISO has collaborated with more than 150 IPs globally, resulting in sales of over 800 million IP products. The company continues to expand its presence through IP-themed stores and pop-ups across Southeast Asia, including specialized stores in Kuala Lumpur, Hong Kong, Vietnam, and Singapore's Changi Airport.
MINISO Group (NYSE: MNSO; HKEX: 9896) has completed a US$550 million offering of equity linked securities due 2032. The securities bear a 0.5% annual interest rate, payable semiannually, and can be exchanged for cash starting six years after the closing date until maturity.
The company implemented Call Spread Transactions, with the securities and lower strike call settled in cash, while shares may be issued under the upper strike warrant. The initial exercise price is set at HK$64.395 per Share, a 26.1% premium over the reference price of HK$51.05. The upper strike exercise price is HK$102.10, representing a 100% premium.
The securities are listed on the Singapore Exchange Securities Trading and were offered to non-U.S. persons in offshore transactions under Regulation S.
MINISO Group (NYSE: MNSO) has announced a US$550 million offering of equity linked securities due 2032. The Securities will bear a 0.5% annual interest rate, payable semiannually, with an initial exercise price of HK$64.395 per Share, representing a 32.5% premium over the expected offer price.
The company plans to use 50% of the net proceeds for overseas expansion, supply chain optimization, brand building, and working capital, while the other 50% will be used for share repurchases. The Securities will be exchangeable for cash from January 14, 2031, and include Call Spread Transactions to reduce potential dilution and offset cash payments.
Security holders can require MINISO to redeem their Securities on January 14, 2028, and January 14, 2030, at 100% of the principal amount plus accrued interest. The offering is expected to close around January 14, 2025.
MINISO (NYSE: MNSO) launched its largest store in Spain on December 20, marking the first MINISO LAND store in Europe. Located in Madrid's Gran Via, this 1100m² flagship store introduces an innovative 'IP theme park-style' shopping concept, featuring collaborations with major brands like Harry Potter, Sanrio, Snoopy, and Disney.
The two-floor store showcases over 6,000 different products, with approximately 70% being IP collaboration items. The location features distinctive zones including a blind box area, cosmetics section, claw machine experience area, and themed spaces. The store's exterior boasts a 20-meter Sanrio-inspired glass façade.
This opening is part of MINISO's European expansion strategy. As of September 2024, MINISO operates approximately 7,200 stores globally, including 260 in Europe, with plans for further expansion.
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.
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