GUANGZHOU, China, Feb. 24, 2023 /PRNewswire/ -- On February 24th, 2023, global lifestyle retailer MINISO held a conference titled "MINISO – Bringing Joy to the World," to announce its global brand strategy in Guangzhou, China. The company took the opportunity to announce its new brand positioning and brand symbol, global development strategy, product strategy, etc. More than 1,000 guests from the media, licensing partners, and corporate partners were present to support the event.
The year 2023 marks the 10th anniversary of the founding of MINISO, as well as the opening year of its updated global brand strategy. The company officially announced that it will transform into a lifestyle super brand that brings joy to consumers through collaborations and original designs.
Speaking of the reason for the new strategy, CEO Jack Ye exclaimed, "The new global strategy marks the future of the company's deep participation in the global retail market and its progress towards a brand-new world-class technology-based consumer enterprise."
Moving into a new decade, creating a great brand for consumers
At the conference, Mr. Ye delivered a keynote speech, titled "Creating a Great Enterprise", in which he said, "To gain high-quality development on the global stage, MINISO has to evolve into a super brand stage by achieving three transformations: transforming from a retail channel to a lifestyle brand, from a retail company to a content creator, and transforming our customers to our users."
Ten years after its founding, MINISO has broken out from the competition with century-old retailers and developed into a retail brand with strong global influence. As of December 31st, 2022, MINISO has entered 105 countries and regions across five continents, with over 5,400 stores globally.
Jack Ye pointed out that the "Joy Philosophy" has been crucial to MINISO's ongoing success, and that a brand that can make consumers happy will eventually become a super brand adored by consumers. MINISO will firmly promote its global development, brighten people's lives through constant product innovation, and become "the world's number one provider of joyful and fun lifestyle and household products." He stressed, "In the next ten years, MINISO will move towards becoming a world-class technology-based consumer enterprise."
Licensed collaborations and original designs to brighten consumers' days
MINISO is very well-known for its collaborations with global intellectual property (IP) owners. IP collaboration is a powerful tool adopted by MINISO to engage young people directly. Through partnerships, MINISO could quickly and efficiently establish a deeper emotional connection with consumers and further strengthen the brand's identity.
Taking inspiration from the company's logo, MINISO decided to use the "Wink" icon as its new brand symbol, which represents the "Joy Philosophy". CMO Robin Liu explained that the "Wink" has always been a part of the brand's logo, representing beauty, warmth, and happiness. The main purpose of extracting this simple symbol is to deepen the interaction with the consumers and convey the concept of a "joyful and fun life."
Innovation as the unrelenting drive for the future global development
At the event, MINISO announced the establishment of "Global Product Innovation Center," which would serve as the company's innovation engine to lead its global development. MINISO will invest in the construction of four design centers in China, the United States, Japan, and South Korea, to provide more professional designs to different markets.
In terms of supply chain, in addition to integrating more than 1,100 high-quality supply chain partners in China, MINISO will partner with top analytical organizations for global trend and consumer trends such as WGSN and Pantone, so as to make the product development more informed and create popular lifestyle products featuring designs that are appreciated by consumers worldwide.
According to Robin Liu, MINISO has upgraded its storefronts, platform and services, as well as launched a premium flagship store running on a brand-new model. On February 5th, the first flagship store of MINISO was unveiled in Chengdu, signifying the start of the company's move to make its name urban shopping districts and premium shopping centers.
The new brand positioning, brand symbol, and upgraded consumer experience mark the start of MINISO's global development mission as it strives to become a brand that brings joy to consumers. Jack Ye said that product innovation has enabled Chinese brands to start taking off, and that MINISO will work toward the goal of becoming a world-class technology-based consumer enterprise. By sticking to its global development strategy, relying on its ability to efficiently integrate the supply chain and its insights on the consumers' needs, and continuously focusing on product innovation, MINISO is confident to transform into a consumer super brand.
About MINISO
MINISO Group is a global lifestyle retailer offering a variety of design-led lifestyle products. The Company serves consumers primarily through its large network of MINISO stores, and promotes a relaxing, treasure-hunting and engaging shopping experience full of delightful surprises that appeals to all demographics. Aesthetically pleasing design, quality and affordability are at the core of every product in MINISO's wide product portfolio, and the Company continually and frequently rolls out products with these qualities. Since the opening of its first store in China in 2013, the Company has built its flagship brand "MINISO" as a globally recognized retail brand and established a massive store network worldwide.
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