China Stocks: MINISO Group Holding Limited (MNSO) (2013)

MINISO Group Holding Limited (NYSE: MNSO) was founded in 2013 and is headquartered in Guangzhou, China, with 16,000 full-time employees. It is a fast-growing global value retailer that provides a variety of design-led lifestyle products. MINISO has established its flagship brand “MINISO” as a world-renowned retail brand (^_^), and has established a huge store network around the world. MINISO’s logo collided with Uniqlo , and its name and sales style were too similar to MUJI . Some people said it was a “pseudo-Japanese” or “China’s largest ten-yuan store” with poor quality; others said it’s simple packaging and good quality The price is low, and the wind reviews are polarized.

MINISO Group Holding Limited

MINISO Group Holding Limited (MNSO):

In 2013, the founder of the brand Ye Guofu discovered that there are many household and household specialty stores in Japan. The daily necessities sold in these stores are not only of good quality, beautifully designed, but also very affordable, and most of them are “Made in China.” As a result, Ye Guofu gained business inspiration, and based on the product development experience, supply chain and channel resources he accumulated in the past when operating fashion chain brands, he founded MINISO in Guangzhou, China. The original intention of MINISO brand was to release the pressure of current young people so that they can enjoy a quality life more easily.

In 2020, MINISO will make a new start, and the brand will be given a richer meaning. On May 16th, MINISO launched a new brand slogan: Just let it go, MINISO. And officially announced Wang Yibo and Zhang Zifeng as global brand spokespersons. MINISO believes that if everyone can sprinkle some wild things, the world will be better. Imagining the future, MINISO’s vision is to become a daily consumer brand that understands young people better, has attitude and warmth.

“Product is king” has always been the most important corporate strategy of MINISO. Focusing on the “Gen Z” young consumers, MINISO is very innovative in product development and keeps up with the current young people’s consumption trends. Since its establishment, MINISO has successively cooperated with world-renowned IP such as HelloKitty, Bare Bear, Pink Panther, Sesame Street, Palace Culture, Marvel, Mickey Minnie, Coca-Cola, etc., and launched a series of joint names that are popular among young people Products; in terms of original design, MINISO established a design research institute, signed a team of well-known designers in Finland, Denmark, Norway, Spain, South Korea and other countries, and continuously incubated original products with simple, natural and rich texture, and won iF repeatedly. , Reddot, A’Design Award and other international design awards.

MINISO is a product-driven global retailer of creative home furnishings. Through the rapid innovation of its own brand products and the new, IP joint cooperation, and efficient digital supply chain management, it focuses on the high-value and high-quality products. And high cost performance; MINISO provides global consumers with home furnishings, electronic appliances, textiles, bag accessories, beauty tools, toy series, color cosmetics, skin care, leisure food, perfumes, stationery gifts, etc. 11 Good daily necessities with more than 8000 core SKUs in different categories.

As of June 30, 2020, MINISO has built a retail network of more than 4,200 stores in more than 80 countries and regions around the world, including more than 2,500 stores in the Chinese market and 1,680 overseas markets. It has entered the United States, More than 80 countries and regions including Canada, Russia, Australia and Germany.

MINISO Group Holding Limited (MNSO) Financing:

  • On October 1, 2018, in the A round of financing, MINISO announced that it had received 1 billion investment from Tencent Holdings and Hillhouse Capital Group.
  • On February 5, 2019, Grupo Sanborns, a retailer owned by Mexico’s richest man and billionaire Carlos Slim, announced the acquisition of a 12.99% stake in the Mexican agent company MINISO, a Chinese department store retailer.
  • On July 19, 2019, Grupo Sanborns acquired 18.27% of the shares of MINISO Mexican agent company. Grupo Sanborns holds a total of 33.27% of the shares of the Mexican agent company “MINISO”.

Prospectus of MINISO Group Holding Limited (MNSO):

  • According to data from the independent research institute Frost & Sullivan, global private-brand integrated retail GMV (platform transaction value) reached US$52 billion in 2019, and MINISO accounted for 5.2% of US$2.7 billion (approximately RMB 19 billion). Known as “the world’s largest private label integrated retailer.”
  • MINISO’s fiscal year 2019 (July 2018 to June 2019) revenue reached RMB 9.394 billion (the same unit below). Under the influence of the global new crown pneumonia epidemic, the fiscal year 2020 (July 2019 to June 2020) Month), with an annual income of 8.979 billion yuan.
  • MINISO’s gross profit in fiscal year 2020 was 2.732 billion yuan, an increase of 8.8% compared to 2.511 billion in fiscal year 2019; the gross profit margin in fiscal year 2019 was 26.7%, which increased to 30.4% in fiscal year 2020. In fiscal year 2019 and fiscal year 2020, MINISO’s overseas market revenue accounted for 32.3% and 32.7% of annual revenue, respectively.
  • Hillhouse Capital (HH SPR-XIV Holdings Limited) and Tencent (Tencent) each hold 5.4% of MINISO shares.
  • MINISO’s global expansion model is divided into its original partner model, direct sales model and agency model. As of June 30, 2020, it has 742 partners in China, of which 488 have invested in MINISO for more than 3 years.
  • At present, MINISO has 8,000 core SKUs (commodity categories), with an average of more than 600 SKUs launched every month, covering 11 major categories. Among these products, 95% have a retail price of less than 50 yuan.

MINISO Group Holding Limited (MNSO) investment:

MINISO Group Holding Limited (NYSE: MNSO) plans to go public on the 10/15/2020 IPO on the New York Stock Exchange, with an issue price of $16.50-$18.50, issue 30.4 million shares, raise 532 million US dollars, underwritten by Goldman Sachs/ BofA Securities .

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