Who is MINISO? China’s affordable lifestyle brand takes on the world
Founded in 2013 in Guangzhou, MINISO is a Chinese lifestyle retailer that offers well-designed, low-cost household goods, toys, personal care items, and accessories. It gained early comparisons to Japanese brands like Muji and Daiso but quickly carved its own identity — combining minimalist product design with viral marketing and accessible pricing.
Targeting millennial and Gen Z shoppers, MINISO introduced a “fun shopping” concept: visually bright stores, rotating collections, and trendy collaborations. Within a decade, the brand scaled rapidly across Asia, the Middle East, and Latin America, positioning itself as a leading global player in the fast-fashion retail space.
Record-breaking financial performance in 2024
MINISO posted impressive financial results in 2024, with revenues hitting RMB 16.99 billion (approximately USD 2.32 billion) — a 22.8% year-over-year increase. Net income reached RMB 2.62 billion, delivering a healthy 15% profit margin.
This strong performance reflects both a domestic rebound in China and soaring overseas demand. The brand’s scalable franchise model, high stock turnover, and constant product refreshes contributed to consistent growth across multiple geographies.
Global growth and the IP effect
International expansion has been a key pillar of MINISO’s 2024 strategy. Overseas revenue rose 42.6% in the first half of the year, accounting for over 35% of total revenue. Despite having fewer stores abroad than in China, the brand’s international Gross Merchandise Value (GMV) nearly matched domestic performance.
A major driver behind this growth is MINISO’s savvy use of IP collaborations. Partnerships with Disney, Marvel, Sanrio, Barbie, and Pokémon have yielded popular co-branded products — from plush toys to stationery — that resonate with young consumers and drive social media engagement.
By the end of 2024, the company operated 6,868 stores globally, including immersive concept stores like “MINISO LAND”, designed as experience-driven destinations for Gen Z shoppers.
Editorial insight: The business of delight
What makes MINISO more than just another discount retailer is its ability to turn low-cost retail into a joyful, aspirational experience. The brand’s “small and beautiful” product philosophy prioritizes visual appeal, fast turnover, and surprise. New products hit shelves weekly, encouraging repeat visits and impulse purchases.
The stores act not just as sales points but as physical expressions of pop culture. The integration of IP merchandise transforms shopping into a lifestyle statement, while the brand’s commitment to affordability keeps it broadly accessible.
In contrast to traditional retail models retreating from physical locations, MINISO is expanding its footprint — especially in developing markets where mall culture remains strong.
Future outlook: Challenges and frontiers ahead
Despite its rapid success, MINISO hasn’t been immune to setbacks. In 2024, more than 20 of its stores in Australia entered administration due to operational challenges and local franchise issues. These incidents underscore the complexities of rapid overseas growth and the need for localized adaptation.
Still, the company is optimistic. Plans for 2025 include further store launches in South Asia, Latin America, and the Middle East. The brand also aims to grow its private label categories, introduce more sustainable product lines, and deepen its digital retail ecosystem.
If it continues to blend cultural relevance with operational discipline, MINISO may very well become one of the most influential retail brands to emerge from Asia in the 21st century.
