Miniso is big, but it’s about to get bigger!
At the company’s Global Brand Strategic Upgrade Results Launch Conference 2024 in Shanghai, Miniso execs outlined plans to grow through product innovation, store expansion, and brand building, according to Jack Ye, the company’s founder. Miniso currently boats more than 7,000 stores worldwide in more than 111 countries.
“Interest-driven consumption” is the key to Miniso’s growth, Ye says. Miniso plans to cater to consumers’ emotional needs and desire for self-expression, which the company says is the future of global consumption. Miniso currently fulfills this need through the Global IP Collection Store, with licensed products as part of its offerings, marketing, and specialty pop-ups.
Miniso has partnered with more than 150 brands, including Harry Potter, Disney, Sanrio, Barbie, and Care Bears. These items have boosted sales to more than $10 billion while setting new sales records. Miniso offers over 10,000 new licensed items and has sold over 800 million licensed products.
The company’s licensed products include blind boxes, plushes, fragrances, travel accessories, and a pet line. Miniso has added two new shopping experiences: Miniso Land and Miniso Friends. Miniso Friends is targeted at Gen Z with a focus on plushes, blind boxes, and pets with a smaller footprint at 600-800 square meters. “As the highest-level store format of Miniso, the Miniso Land Global Flagship Store not only embodies the brand’s vision but also marks the milestone of Miniso’s global channel upgrade,” adds Jeff Kou, Vice President and Chief Growth Officer of Miniso Land.
