Since its establishment, Miniso has gradually occupied a place in the global fast fashion market through its unique business model and market strategy.

In 2023, on the occasion of the tenth anniversary of the establishment of Miniso, Ye Guofu launched the global brand strategy upgrade, taking "global IP joint collection store" as the latest brand positioning, and fully moving towards a global "super brand". For the whole year of 2023, Miniso’s revenue exceeded 13.8 billion yuan, a year-on-year increase of nearly 40%, setting a new record again. As of March 31, 2024, the number of Miniso stores worldwide reached 6,630, including 2,596 overseas stores, covering 111 countries and regions around the world. Revenue from overseas markets has grown rapidly, becoming a new step in the global development of Chinese brands. Benchmark.

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Core logic and strategy

Miniso can stand out in the fast fashion market. The core logic of its success mainly includes the following aspects:

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Brand positioning and global strategy

Brand positioning: Positioning as a "global IP joint collection store" to attract global consumers.

Globalization strategy: Relying on the "Brand in Global, Made in China" strategy and leveraging China's strong supply chain advantages to introduce high-quality, low-price products to the global market.

Extreme localization: Miniso has formulated unique sales and product strategies based on consumer psychology and needs in different countries. For example, in the Mexican market, we cooperated with Carlos Slim, the local richest man, to rapidly expand stores; in the Indian market, we launched perfumes that are in line with local spice culture; in Malaysia, we launched nail polish that is easy to peel off; in Europe, we chose high-end shopping districts to open stores to increase sales. Brand.

Agency cooperation model: By cooperating with local leading companies, Miniso effectively avoids market risks and high trial and error costs. Although the agency model makes it lose part of its profits, this model is more feasible and economical than the high risks and costs of starting from scratch.

On July 22, the list of "Forbes China's Best CEOs 2024" was announced. Ye Guofu, founder, chairman of the board and CEO of Miniso Group, was among them. Lei Jun, founder of Xiaomi Group, Wang Chuanfu, founder of BYD, Nongfu Spring Founder Zhong Suisui and many other outstanding entrepreneurs are on the list.

Transnational business capabilities have become an important indicator for measuring the performance of Chinese CEOs. With his unique innovative business philosophy and precise insight into market trends, Ye Guofu has led Miniso to achieve impressive results on the global stage. This honor is not only a high praise for Ye Guofu's personal outstanding leadership, but also a solid proof of Miniso's strong competitiveness and influence in the global market.

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Good looks, high quality, cost-effective, sophisticated social media operations

Miniso's products are famous for their good looks, high quality and high cost performance, which have changed the low-end image of ten-yuan stores in the past and successfully attracted a large number of mid-to-high-end consumers.

IP cooperation and exclusive supply: Miniso cooperates with many internationally renowned IPs, such as Mario, Hello Kitty, Pokémon, Disney, etc., to launch genuine authorized products, forming unique market competitiveness.

High-frequency new releases: Miniso launches 100 new SKUs every seven days on average, with a product life cycle of only six months. This high-frequency new product launch strategy continuously attracts consumers’ attention and stimulates their desire to purchase.

Instagram Marketing: As one of the most popular social media platforms among young people in the world, Instagram is an important channel for Miniso’s marketing efforts. Through refined content operations and celebrity marketing, Miniso has successfully transformed celebrity influence into brand followers, further promoting business growth.

By jointly developing products with suppliers, buying out copyrights, forming an exclusive source of goods, reducing intermediate links, and directly reducing procurement costs through the C2M (Customer to Manufacturer) model.

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supply chain management

Supply chain advantages: Miniso relies on China's strong supply chain and has obvious cost advantages. Costs are further reduced through large-scale procurement and efficient supply chain management.Settlement method: Miniso adopts a delayed settlement method. Even if the payables are as high as 3.2 billion and the inventory is only 1.4 billion, it can still sell the goods within a month to collect the payment, and it may even take two months to settle the payment to the supplier.

market performance

Sales data: As of the first quarter of 2024, the total number of Miniso stores worldwide is 6,630, including 2,596 overseas stores, distributed in 107 countries and regions. In the first quarter of 2024, Miniso’s total revenue was 3.72 billion yuan, a year-on-year increase of 26%; of which overseas revenue was 1.22 billion yuan, a year-on-year increase of 53%. Gross profit margin rose to 43.4%, and net profit was 620 million yuan, a year-on-year increase of 28%.

Best-selling products: Among Miniso’s products, categories such as aromatherapy and blind boxes are particularly popular. Among them, “Fireless Aromatherapy” ranks first in sales in the country for three consecutive years. The historical cumulative sales volume of Miniso products exceeds 700 million pieces, and the cumulative number of purchases worldwide reaches hundreds of millions.

Stock price performance: Since entering 2024, Miniso's stock price has performed generally. It has continued to fall in the past two or three months, from a maximum of 25.5 yuan per share to the current 17 yuan per share, a decrease of nearly 33%.

(Source: uSMART)

What is the future outlook for Miniso?

Miniso has successfully established itself in the fast fashion market and continues to expand through brand upgrades and globalization strategies. In the future, with more international IP cooperation and further optimization of supply chain management, Miniso is expected to continue to maintain rapid growth and achieve greater coverage of the global market.

Miniso’s successful experience is worth learning from. It has occupied a favorable position in the fast fashion market through precise brand positioning, strong supply chain management, efficient market strategies and continuously innovative product portfolios. In the future, Miniso is expected to continue to use its globalization strategy to become the world's leading fast fashion brand.

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How to invest in Miniso on uSMART?

After logging into uSMART HK APP, click "Search" from the upper right corner of the page and enter "MNSO" to enter the details page to learn about transaction details and historical trends. Click "Trade" in the lower right corner and select the "Buy/Sell" function. Finally, fill in the transaction conditions and send the order; the image operation instructions are as follows: