Xinhua Finance Shanghai, October 30th (Reporter Gao Shaohua) Miniso held a press conference on the results of its 2024 global brand strategy upgrade in Shanghai on the 29th. Ye Guofu, founder, chairman, and CEO of Miniso Group, stated that currently Miniso has over 7000 global stores covering 111 countries and regions, providing a better living experience for over 1 billion consumers worldwide. In the next 10 years, it will help 100 Chinese IPs go global.
In 2020, Ye Guofu proposed that "interest consumption" would become the mainstream trend of future consumption, and subsequently, the wave of interest consumption swept across the world. IP strategy is an important lever for Miniso to lead interest consumption, injecting strong momentum into its global layout. Miniso has pioneered the innovative business model of "Global IP Joint Collection Store", continuously strengthening its first mover advantage, channel advantage, and scale advantage in the field of IP design retail.
Focusing on "good-looking, fun, and easy to use", Miniso continues to empower IP innovation and enhance global design capabilities centered in China, supported by three major overseas design centers in South Korea, Japan, and the United States. The Korean Design Center has landed this year and successfully created multiple original design products, which will be officially promoted in the global market next year.
Dou Na, Executive Vice President and Chief Product Officer of Miniso Group, stated that Miniso has been engaged in IP strategic layout since 2016 and has cooperated with over 150 globally renowned IPs worldwide. The global IP product sales scale has exceeded 10 billion yuan, with over 10000 new IP products launched annually and a total of over 800 million IP products sold.
To meet the diverse needs of consumers in various scenarios, Miniso has constructed a seven layer store matrix, including MINISO LAND, potential stores, themed stores, flagship/sub flagship stores, regular stores, MINISO GO, and pop-up stores. Recently, Miniso's first global MINISO LAND store opened on Nanjing East Road in Shanghai. As Miniso's highest level store, it achieved nearly 10 million RMB in its first month of trial operation and will expand globally as an intercontinental landmark store in the future.
Liu Xiaobin, Vice President and Chief Marketing Officer of Miniso Group, stated that Miniso's first mention rate among similar brands and brand preference reflecting purchase frequency have continued to significantly increase in the past two years. As of now, Miniso has over 100 million registered members in major global markets. In China, the cumulative number of private domain users based on the WeChat ecosystem has exceeded 47 million, with a stock of over 30 million; Overseas members who started working last year have seen a 63% increase in membership size since 2024.
With the deepening of user operation by Miniso, user value is constantly being explored and highlighted, resulting in an increase in brand value, which is reflected in the steady increase of individual product prices and customer unit prices in business data. Taking the US market as an example, in the four years from 2019 to present, Miniso's products sold locally have seen a 93% increase in single item prices and a 77% increase in average order value.
Since the launch of the "China Cultural Innovation Global Development Plan" by Miniso and Xinhua News Agency in 2023, both parties have joined hands with inheritors of intangible cultural heritage to create a series of Chinese intangible cultural heritage products, promoting the global development of Chinese culture. At this press conference, Miniso teamed up with Xinhua News Agency client to upgrade and launch the "China Cultural Innovation Global Development Plan", announcing that it will help 100 Chinese IPs go global in the next 10 years.