MINISO Group Holding Limited: history, ownership, mission, how it works & makes money

A Brief History of MINISO Group Holding Limited

Founded in 2013, MINISO Group Holding Limited has swiftly established itself as a prominent player in the global retail landscape. Headquartered in Guangzhou, China, MINISO specializes in a variety of general merchandise, including household goods, cosmetics, and electronics, often positioned as high-quality yet affordable products.

As of September 2023, MINISO operates over 5,000 stores across more than 80 countries, with a significant presence in China, Japan, the United States, and Southeast Asia. The company reported a revenue of approximately $1.45 billion for the fiscal year ending June 30, 2023, indicating a growth of 15.4% from the previous fiscal year.

MINISO's business model is anchored in its commitment to providing quality products through an efficient supply chain. The company collaborates with a range of designers and manufacturers, ensuring that its offerings remain trendy and cost-effective. By the end of 2023, MINISO aims to open an additional 1,000 stores globally.

In its latest earnings call, MINISO reported a net income of approximately $120 million, reflecting an increase of 20% year-over-year. This growth is attributed to a surge in consumer spending during the post-pandemic recovery phase, alongside the brand's strategic expansion into international markets.

The company's resilience during challenging economic environments is notable. For instance, during the COVID-19 pandemic, MINISO adapted quickly, leveraging e-commerce platforms, which contributed to a 62% increase in online sales in 2021 compared to 2020.

As of June 2023, MINISO's market capitalization stood at approximately $1.6 billion, with stock prices averaging $18.50. The company trades on the New York Stock Exchange under the ticker symbol MINISO.

Future initiatives for MINISO include a focus on sustainability and the introduction of eco-friendly products in its line. The company aims to allocate roughly 10% of its product offerings to sustainable goods by 2025.

As MINISO continues to innovate and expand, its commitment to affordability and quality remains at the forefront, ensuring it remains a favored choice among consumers worldwide. With plans to enhance its global footprint, MINISO is poised for further growth and market penetration in the coming years.

A Who Owns MINISO Group Holding Limited

MINISO Group Holding Limited operates as a global retailer of affordable consumer products. As of the latest available data, the company was co-founded by Ye Guofu and Jin He, both of whom hold significant equity stakes in the organization. Ye Guofu is particularly notable as the CEO, with his leadership role accompanying a substantial ownership percentage.

As of the end of the fiscal year in June 2023, the company's total number of shares outstanding stood at approximately 1.03 billion. The largest shareholders include:

As of Q3 2023, MINISO's market capitalization was reported at approximately $3.5 billion. The company's revenues for the fiscal year ending June 2023 were approximately $1.1 billion, reflecting a year-over-year growth of 15%.

The shareholder composition demonstrates a blend of founder involvement and institutional investment, indicating a stable governance structure that is pivotal for strategic decision-making. The founders’ significant equity positions reinforce their influence on operational and business direction.

Additionally, MINISO has been expanding its footprint globally, with over 4,200 stores operating in more than 80 countries as of 2023. This wide reach amplifies the importance of its strategic ownership structure, allowing it to leverage both local market knowledge and global investment strategies.

In summary, the ownership of MINISO Group Holding Limited reflects a balance between founder control and institutional backing, providing a solid foundation for the company's ongoing growth and expansion plans.

MINISO Group Holding Limited Mission Statement

MINISO Group Holding Limited, a global retailer founded in 2013, focuses on offering high-quality, design-focused products at affordable prices. The company’s mission is encapsulated in its aim to provide customers with a one-stop shopping experience that emphasizes value, diversity, and innovation.

The core of MINISO's mission statement is centered around the commitment to quality and affordability, ensuring that products meet both functional and aesthetic requirements. This mission is vital to its competitive strategy in the retail space, especially in markets where price sensitivity is significant.

Key Aspects of MINISO’s Mission Statement

• Customer-Centric Approach: MINISO prioritizes understanding consumer needs and delivering products that resonate with them.
• Quality Assurance: The company commits to stringent quality checks, aiming to maintain products that are both trendy and reliable.
• Affordability: Keeping costs low is pivotal, with an emphasis on providing products that cater to a wide range of budgets.
• Global Presence: MINISO aims to expand worldwide while maintaining a consistent brand image and experience across markets.

Financial Performance

In the fiscal year 2022, MINISO reported significant financial metrics, showcasing its growth and stability:

MINISO's operational strategy aligns with its mission, focusing on an efficient supply chain and diverse product offerings. The company regularly updates its inventory to reflect current trends while keeping production costs down.

Market Presence

As of 2023, MINISO operates in over 80 countries. The brand has successfully penetrated key markets such as:

This extensive market presence illustrates the effectiveness of the company's mission-driven approach to retail, allowing it to tailor products to local tastes and preferences, further enhancing customer engagement.

Innovation and Product Development

MINISO emphasizes innovation in product development, often launching new products that align with consumer trends. The company's broad product categories include:

• Home Goods
• Beauty Products
• Toys and Stationery
• Electronics Accessories
• Health and Wellness Products

In fiscal year 2022, approximately 30% of its revenue came from newly launched products, indicating a robust strategy for continual innovation.

The overarching purpose of MINISO’s mission statement is reflected in its agile business model that prioritizes the consumer experience while maintaining financial health and operational excellence. This alignment has been crucial to its expansion and its ability to adapt to the ever-changing retail landscape.

How MINISO Group Holding Limited Works

MINISO Group Holding Limited operates as a variety retail store offering a wide range of products, primarily including household and consumer goods, cosmetics, electronics, and clothing. Founded in 2013, the company has quickly expanded its footprint, capitalizing on the growing demand for affordable, high-quality products, especially among younger consumers.

As of June 30, 2023, MINISO had a total of 4,900 stores across 80 countries and regions. The company reported a revenue of approximately $309 million for the fiscal year 2022, showcasing a 2.7% growth compared to the previous year. The net income attributable to ordinary shareholders saw a slight increase, reaching around $31 million in the same period.

MINISO follows a unique business model, characterized by high inventory turnover and a focus on low-cost sourcing. The company emphasizes the "high-quality, low-priced" strategy, which allows it to provide products at affordable prices while maintaining quality. By leveraging strategic partnerships with manufacturers, MINISO can keep production costs low.

The company employs a franchise model, enabling rapid expansion with reduced capital expenditure. Approximately 90% of its stores are franchised, allowing for a flexible approach to entering new markets. MINISO's franchise partners are required to adhere to strict operational guidelines, ensuring brand consistency and quality control.

As of 2023, the company reported an average store opening of nearly 400 new locations annually, significantly increasing its market presence. Furthermore, MINISO's product offering is influenced by customer feedback, ensuring that it meets the evolving preferences of consumers. This consumer-centric approach has driven the company to consistently refresh its product lines, introducing approximately 1,000 new SKUs (stock keeping units) annually.

During the second quarter of 2023, MINISO continued to report resilient performance, with revenue growing by 5.1% year-over-year, driven by an increase in same-store sales and successful marketing campaigns. The gross margin for the same period was reported at around 38%, largely due to efficient cost management and supply chain optimization.

Looking ahead, MINISO plans to expand its product categories and continue its international growth strategy. The company's investment in e-commerce has also been significant, reporting a 30% increase in online sales year-over-year, as it adapts to changing consumer shopping behaviors.

In summary, MINISO Group Holding Limited's operational model focuses on competitive pricing, franchise expansion, and customer engagement through product innovation and e-commerce growth. This approach positions the company favorably in the diverse global retail landscape.

How MINISO Group Holding Limited Makes Money

MINISO Group Holding Limited generates its revenue primarily through the sale of a wide range of affordable and high-quality consumer products. The company operates a variety of product categories, including household goods, cosmetics, electronics, and stationery, which contribute to its diverse revenue streams.

In the fiscal year 2023, MINISO reported a revenue of approximately $1.26 billion, reflecting a year-over-year increase. The company's financial performance is bolstered by its innovative retail model and its strategic focus on value-for-money products, appealing to cost-conscious consumers.

MINISO’s revenue is predominantly derived from its retail stores. The company operates more than 5,000 stores globally, with a strong presence in China, where it has over 3,500 stores. As of 2023, its international footprint includes over 1,500 stores in more than 80 countries.

The product mix also plays a significant role in MINISO's revenue. The company focuses on fast-moving consumer goods (FMCG) and lifestyle products, with an average transaction value of approximately $10. The following table outlines the revenue contributions by product categories:

In addition to retail sales, MINISO generates revenue through its franchise model. The company allows local entrepreneurs to open MINISO stores under its brand, providing them with support and ensuring adherence to its operational standards. The franchise segment is a growing portion of MINISO's business, contributing approximately 15% of total revenue in 2023. The franchise fees and royalties collected from these franchise partners provide a steady income stream for the company.

MINISO has also embraced e-commerce, which has become increasingly important. The company's online sales grew by 50% year over year, accounting for around 10% of total sales in 2023. Digital marketing strategies and partnerships with major online platforms have enhanced its visibility and sales potential.

Furthermore, MINISO strategically manages inventory to keep costs low while meeting consumer demand effectively. The company's gross profit margin for FY 2023 was approximately 38%, demonstrating its ability to maintain profitability even in competitive market conditions.

On the operational side, MINISO maintains an efficient supply chain. The company works closely with manufacturers to control production costs and ensure product quality, which is crucial for sustaining its competitive pricing strategy. This operational efficiency has resulted in a net income of around $100 million in 2023.

Overall, MINISO Group Holding Limited's revenue generation strategy hinges on a combination of diverse product offerings, a successful retail and franchise model, a growing e-commerce presence, and operational efficiencies that collectively enhance its financial performance.