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Miniso opens 500 more stores in one year

Miniso Group Holding Limited reported that it opened 500 new Miniso stores worldwide in its last fiscal year, which ended last June 30.

With this, the company operated 5,200 Miniso stores until then, of which 3,200 are located in China.

Particularly in China, the company managed to open a further 300 stores in the last fiscal year, bringing its total to 3,200.

Overall, in the nine years since it opened its first store in China in 2013, Miniso Group Holding has successfully incubated two brands -Miniso and Top Toy.

In the fiscal year ended June 30, 2022, the company generated revenue of RMB9.5 billion (US$1.4 billion) under the Miniso brand and the aggregate GMV of products sold through its Miniso network reached approximately RMB18.4 billion (US$2.7 billion).

VGM refers to the total value of all goods sold by Miniso Group Holding and its retail and distribution partners to end customers, before deducting sales rebates and including VAT and sales taxes collected from consumers, as applicable, regardless of whether the goods are returned.

Miniso

Top Toy, a new brand the company launched in December 2020 to pioneer the concept of pop toy collection stores, achieved revenue of RMB446.9 million (US$66.7 million) and GMV of RMB595.6 million (US$88.9 million) in the same fiscal year.

The company has its extensive network of global stores in approximately 105 countries and regions around the world

Observing an emerging pop toy culture, the company leverages its knowledge of retailing and supply chain capabilities, and established a platform to launch the Top Toy brand with the strategic goal of entering the pop toy market and ultimately building its pop toy platform.

As such, the company believes that its Top Toy brand is highly complementary to its Miniso brand, as it targets a broader consumer demographic, with a much wider product price range and higher average order value.

Its experience as a leading global value retailer has enabled the company to realize its strategic objective with Top Toy and make rapid progress in the pop toy market in China.

As of June 30, 2022, the company had a total of 97 Top Toy stores.

 

Redacción Opportimes

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