Miniso revealed plans to become the world’s largest IP design group. The company plans to achieve world dominance through product innovation, store expansion, and brand building, said Jack Ye, the company’s founder. Miniso currently has more than 7,000 stores worldwide in more than 111 countries.
Miniso’s plan was announced at the company’s Global Brand Strategic Upgrade Results Launch Conference 2024 in Shanghai. “Interest-driven consumption” is the key to Miniso’s growth, Ye said. Miniso plans to cater to consumers’ emotional needs and desire for self-expression, which the company says is the future of global consumption. Miniso currently fulfills this need through the Global IP Collection Store, with licensed products as part of its offerings, marketing, and specialty pop-ups.
Miniso has partnered with more than 150 IPs, including Harry Potter, Disney, Sanrio, Barbie, and Snoopy. The licensed items have boosted sales to over $10 billion while setting new sales records. Miniso offers more than 10,000 new licensed items and has sold over 800 million licensed products.
The company’s licensed products include blind boxes, plushes, fragrances, travel accessories, and a pet line. Miniso has added two new shopping experiences: Miniso Land, an IP collection store in Shanghai, and Miniso Friends. Miniso Friends is targeted at Gen Z with a focus on plushes, blind boxes, and pets with a smaller footprint at 600-800 square meters. “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,” said Jeff Kou, Vice President and Chief Growth Officer of Miniso Land.
Meanwhile, the company has invested in the Marriage and Maternity Incentive Scheme, a program meant to improve the care of women and newborns, and the MINISO Pet Protection Foundation, founded last December in partnership with the Beijing Loving Animals Foundation. Miniso hopes these initiatives and partnerships with global partners will spread its “joy philosophy” worldwide.
