MINISO reports a 25% income growth in H1 2024, expanding globally and enhancing its IP strategy. Learn more about its global footprint and future plans.
Hey there! Have you caught the latest buzz about MINISO? Just last month, they dropped some pretty impressive numbers for the first half of 2024. They’re not just growing; they’re soaring, with a 25% jump in income year-on-year. Let’s dive into what’s driving their success and what it means for the market.
Robust Growth in H1 2024
The numbers are in, and they’re looking good. MINISO posted a whopping 7.76 billion RMB in income, that’s about 1.09 billion USD for the first half of the year. Their profit isn’t lagging either, with a solid 17.8% increase to 1.24 billion RMB. And guess what? For the first time, their quarterly revenue hit the 4 billion RMB mark. That’s a lot of zeroes, right?
Expanding Footprint Globally
It’s not just about the numbers; it’s where they’re coming from that’s exciting. MINISO added 455 new stores, reaching a total of 6,868 globally. Over 4,100 of these are right here in China, but their overseas game is strong too, with 2,753 stores and counting. They’ve even pushed their designer toy label, TOP TOY, helping them surpass 7,000 stores worldwide.
Thriving Overseas
Their overseas revenue shot up by 42.6% during these six months, hitting 2.73 billion RMB. That’s about 384.89 million USD, making up over 35% of their total income. The US now boasts over 200 stores, and in Europe, MINISO’s setting its sights on a massive expansion, planning to add 1,000 more stores around the continent.
They’re not just popping up stores randomly either. MINISO is focusing on big, strategic locations like Time Square and Singapore Changi Airport. These superstores are turning out to be real sales powerhouses, especially outside China. For example, daily sales in UK stores have hit over 20,000 RMB, and in the US, it’s over 30,000 RMB.
Intellectual Property: The New Battlefield
Last but not least, MINISO’s really upping its game in intellectual property. They’re facing stiff competition from POP MART, but they’re holding their own. They spent around 183 million RMB on licensing fees alone in the first half of the year. With both brands deep into the IP game, it’s going to be interesting to see how they leverage this for further growth.
So, there you have it. MINISO’s not just expanding; they’re strategically positioning themselves across the globe and making smart moves in the IP arena. It’s definitely a company to watch if you’re eyeing the retail sector, especially with their aggressive global and IP strategies. What do you think will be their next big move?
