Episode25:MINISO

Global Expansion: Miniso has rapidly expanded its global footprint, with over 7,000 stores worldwide. Their strategic approach involves leveraging different store models: direct-owned, partnership, and agency models. This flexibility allows them to tailor their expansion strategy to different regions and minimize risks. In particular, the partnership and agency models offer asset-light approaches, enabling swift expansion, particularly in overseas markets.IP Strategy: Miniso leverages popular IPs to enhance its product appeal and drive sales. Collaborations with renowned IPs like Disney and Sanrio attract a wider customer base and allow the company to charge a premium for these products. This strategy has been particularly successful in overseas markets where the proportion of IP-related product revenue is higher. By 2028, Miniso aims to have IP products account for over 50% of its revenue.Strong Supply Chain: Miniso's robust supply chain management is crucial for its success. They partner with globally recognized suppliers, enabling them to offer high-quality products at competitive prices. Their efficient supply chain ensures a high frequency of new product releases, keeping their offerings fresh and exciting for consumers. This strength has also been instrumental in controlling inventory costs and improving profitability.Meanwhile, Miniso also focus on brand upgrade initiatives, including the establishment of "super stores" to elevate the customer experience. They are also actively pursuing the development of high-performing categories, with a goal of creating four strategic categories exceeding 3 billion yuan each. Miniso's second growth engine, TOP TOY, is also gaining momentum, experiencing substantial revenue growth and achieving profitability.

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