Its store feels MUJI, its logo looks like Uniqlo, its name sounds like DAISO. Despite every part of it seemingly comes from Japan, it still has the purest Chinese descent.
The brand`s name is MINISO, one of the most successful Chinese retail brand.
MINISO filed a prospectus with the Securities and Exchange Commission （SEC） on September 23 with the intention of listing on the New York Stock Exchange to raise $100 million.
According to the prospectus, MINISO posted a revenue of 9.39 billion yuan (US$1.3 billion) and a loss of 290 million yuan in the 2019 fiscal year (July 2018 to June 2019). In the fiscal year 2020 (From July 2019 to June 2020), the revenue was 8.98 billion yuan (US$1.3 billion), a year-on-year decline of 4.4% and a loss of 260 million yuan (US$ 38 million). MINISO’s same-store sales in China have fallen 32.6 per cent this year and its stores in overseas markets have closed more than 20% as a result of the outbreak.
Yet, it is the best Chinese retail brand that you could find overseas.
Within seven years since MINISO opened its first store in China in 2013, we have built our flagship brand “MINISO” as a globally recognized retail brand and established a massive store network worldwide.
As of June 30, 2020, MINISO served consumers primarily through network of over 4,200 MINISO stores, of which directly operated 129, including over 2,500 MINISO stores in China and over 1,680 MINISO stores across over 80 countries and regions in the rest of the world.
According to a research report provided by Frost&Sullivan, the global GMV of integrated private brand retail reached $52 billion in 2019, and MINISO accounted for 5.2% of $2.7 billion (about 19 billion yuan), making it the largest global branded variety retailer of lifestyle products, as Frost&Sullivan said.
Meanwhile, the company is also a retail brand with a customer flow of over 400 million in the Chinese market, and it also has highly younger consumer group of which 60% customers are under 30.
In the fiscal year ended June 30, 2020, we offered consumers a wide selection of approximately 8,000 core SKUs, and 95% of its products` price are lower than 50 yuan (US$7). These products span across 11 major categories, including home decor, small electronics, textile, accessories, beauty tools, toys, cosmetics, personal care, snacks, fragrance and perfumes, and stationery and gifts.
In the aspect of consumer portrait, the consumer group of MINISO is obviously younger. In 2020 fiscal year, about 416 million customers visited the company’s stores in the mainland, with about 30% of customers making purchases. In the same period, 80% of consumers in the Chinese market are under the age of 40, while 60% are under the age of 30.