While the history-making Chinese animation blockbuster “Ne Zha 2” is still on screen,MINISO has already been selling the beloved movie figures in its stores.The newly launched Ne Zha merchandise line is just so irresistible to shoppers.
Like the rebellious hero in the movie,this Guangzhou-born brand, which started in a basement garage, has unleashed unstoppable momentum. Its lively red logo resembling a smiley face now brightens streets,from home to abroad,while revenue charts skyrocket.
MINISO’s stellar performance in the first three quarters of 2024 further cements its momentum.Revenue surged 22.8% YOY,with overseas sales jumping 41% to reach 4.54 billion yuan.
Recently, MINISO made a surprising move by acquiring a 29.4% stake in Yonghui Superstores for 6.27 billion yuan, becoming its largest shareholder.This merger bridges "essential" and "discretionary" consumer markets,further embedding the brand into everyday life.
Behind this continued success lies in MINISO’s operational efficiency. On the first workday of the Year of the Snake, MINISO founder Ye Guofu urged the company to resist the internal “rat race”, by eliminating unnecessary corporate formalities and bureaucracy, including banning using PowerPoint in internal reports, and cutting long meetings,which resonate strongly with younger employees.
This pivot was years in the making. Back to 2020, Ye predicted “interest-driven consumption”, would define the future, especially for Gen Z. To win over younger consumers, requires tapping into their passions. In recent years, the brand rode the rising wave of anime merchandise to new heights.
In October 2024, its Harry Potter collaboration campaign drew snaking queues at every pop-up store,with items selling out almost instantly.The company's partnership with Japan's beloved animation Chiikawa franchise kindled even fiercer demand. Currently, the co-branded product has rolled into the 4th batch,with demand showing no signs of ceasing anytime soon.
Establishing IP collaboration as its crucial strategy to keep its leading position in interest-driven consumption.To date,MINISO has collaborated with over 150 IPs worldwide. Including 6 of the world's top 10 licensors, and 9 of the top 20 licensors.
Having mastered the game,MINISO keeps on to press its advantage:Its latest collaboration with China's red-hot, AAA-game Black Myth: Wukong is redefining IP partnerships,as MINISO continues to surprise.
With the surge of anime culture,MINISO tapped top-tier anime and gaming IPs,offering officially licensed merchandise and fan-made designs.With Q3 2024 sales in anime-related categories jumping 50% from the previous quarter.
This "guzi craze" has even gone global.In August 2024,MINISO's 3,000-square-meter Jakarta flagship,its largest store worldwide,experienced three-hour checkout lines with 30 cashiers working simultaneously and an astounding single-day revenue of 1.18 million yuan.
MINISO has rewritten global retail rules. Overseas markets have become a significant point of revenue growth.
On May 20, 2023, a milestone moment arrived when MINISO opened its first flagship store in New York's Times Square, standing shoulder to shoulder with top global commercial brands.This marked a symbolic leap of Guangdong manufacturing onto the world stage and a milestone in the globalization of Chinese brands.
As of September 2024,MINISO operates over 7,000 stores across 112 countries and regions standing alongside bubble tea giant Mixue Ice Cream & Tea.The brand has become an emblem of China's "four-character branding" dominance overseas.
MINISO's journey Mirrors Guangdong province's global business ambitions.In 2024, despite the backdrop of global trade friction,the province's cross-border e-commerce imports and exports hit 427.4 billion yuan in H1 2024,supported by 12 stabilization policies to empower businesses. These policies provided comprehensive services for foreign-related businesses,and injected "Chinese confidence" into the world economy.
From humble 10 yuan accessories to global dominance,MINISO has redefined retail with its "light luxury meets affordability" playbook.As Chinese brands set sail in the global marketplace,MINISO’s fusion of Eastern aesthetics and mass market appeal continues to deliver “a modest yet mighty shockwave” to consumers worldwide.
