GUANGZHOU, China, Nov. 3, 2024
/PRNewswire/ -- On October 29, MINISO held its Global Brand
Strategic Upgrade Results Launch Conference 2024 in Shanghai. In 2023, the company announced its
goal to become the World's leading IP design retail group. To
achieve this ambition, MINISO has made significant strides in
product innovation, store expansion, and brand building, cementing
its leading position in the global retail market.
Interest-Driven Strategy Brings IP Empowerment
MINISO's founder Mr. Jack Ye has
previously pointed out that changes in the global retail industry
mean great opportunity for MINISO to become globally competitive
and influential.
As early as 2020, Mr. Jack Ye
envisioned "interest-driven consumption" as a key to the brand's
growth, predicting that fulfilling consumers' emotional needs and
desire for self-expression will become the driving force of future
consumption. MINISO has successfully led this trend globally as the
pioneer of the 'Global IP Collection Store' innovative business
model, by incorporating popular intellectual properties (IPs) into
its products, store designs, and marketing. This approach
strengthens the brand's emotional connection with users, addressing
the rising demand for interest-driven consumption and enhancing its
overall value proposition. Mr. Jack
Ye further emphasized the idea of combining essential items
with IP-themed non-essentials, a concept he refers to as 'essential
+ optional consumption'. MINISO aims to create a distinctive retail
giant that focuses on quality retail while meeting the genuine
needs of consumers.
To date, under this strategic layout, MINISO has partnered with
over 150 globally renowned IPs, including Harry Potter, Disney,
Sanrio, Chiikawa, Barbie, Snoopy, and Zanmang Loopy, to create
collections that have enjoyed significant popularity and generated
impressive numbers. Global IP product sales exceeded 10 billion RMB, with more than 10,000 new IP
products launched each year and cumulative sales of more than 800
million IP products. At the conference, MINISO officially announced
that the MINISO and Warner Bros. Discovery Global Consumer Products
to launch the Harry Potter inspired collection. The co-branded
products will be launched globally across all MINISO sales channels
from October 31. The collaboration
had already launched successfully in Hong
Kong, Irvine, and Jakarta,
greeted with strong enthusiasm from fans and setting new sales
records.
Innovation drives MINISO's growth. By focusing on pleasing
design, fun, and quality products, MINISO continues to push the
boundaries of IP design innovation, centering its creative efforts
in China while also leveraging
design centers in Korea, Japan,
and the USA to bring fresh ideas
and products to a global audience. In the future, MINISO aims to
support 100 Chinese IPs to go
global and reach a worldwide consumer base.
Beyond IP collaborations, MINISO's product innovation is
reflected in its exploration of new categories. The brand has
ramped up investments in research and development, expanding into
areas such as pets and ACG besides plush toys, blind boxes,
fragrances, and travel accessories. To swiftly turn innovative
designs into quality products for the global market, MINISO is also
continually enhancing its global supply chain and building strong
partnerships with leading suppliers.
Innovative Store Formats Flourish Worldwide
The rise in IP product influence strongly relates to an
innovative channel development. Through continuous innovation and
optimization strategies, MINISO has expanded its footprint to over
111 countries and regions, operating 2,753 stores outside of
mainland China. Furthermore,
MINISO has implemented a seven-tier store format to meet diverse
customer needs, including IP-themed experiences and product-focused
scenarios.
At the conference, MINISO officially introduced a new store
format – MINISO IP LAND. Two days prior to the conference, on
October 27th, MINISO opened the
world's first scenario-based IP collection store, MINISO LAND, on
East Nanjing Road in Shanghai,
which achieved record-breaking sales in its first month of soft
opening. Jeff Kou, Vice President
and Chief Growth Officer of MINISO, said, "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."
Additionally, MINISO has introduced another store format, MINISO
FRIENDS, targeting Gen-Z customers. These themed stores, ranging
from 600 to 800 square meters in size, focus on plush toys, blind
boxes, pets, and ACG, fostering a culture of community and
belonging for younger audiences.
Growing with Users for a Better Future
By leveraging IP innovations and channel upgrades, MINISO has
strengthened its brand and built a deep emotional connection with
over a billion users worldwide, transforming customers into
users.
According to Robin Liu, Senior
Vice President and CMO of MINISO, the brand's mention rate and
preference have grown significantly over the past two years
compared to other brands in the category. As MINISO deepens its
focus on user engagement, it has successfully unlocked greater user
value, leading to increased brand value. This is evident in the
steady rise of both average unit price and customer spend. The
membership number also explains. As of now, MINISO has more than
100 million registered members in major markets around the world.
The number of overseas members has increased by 63% since 2024.
Moreover, MINISO has proactively undertaken social
responsibilities to bring a positive social impact. In the past two
years, the brand has invested in two 10
million RMB funds to support women through the Marriage and
Maternity Incentive Scheme program and promote animal welfare
through MINISO Pet Protection Foundation.
Setting Sights on Global Dominance
In the future, MINISO will continue to deepen its overseas
expansion, creating more representative stores with innovative
interactive devices and immersive experience to cater to younger
customers. With an open and inclusive approach, MINISO is embracing
the global market. The brand looks forward to partnering with
global partners and consumers to spread the "Joy Philosophy"
worldwide, allowing everyone to experience the allure of the MINISO
brand.
About MINISO
MINISO Group is a global value retailer offering a variety of
trendy lifestyle products featuring IP design. 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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