On October 29th, Miniso held the "2024 Global Brand Strategy Upgrade Results Release Conference" in Shanghai. The theme of this press conference is "China Miniso Happy World", focusing on the important achievements of Miniso products for release.
According to the semi annual report data, Miniso achieved a revenue of 7.759 billion yuan in the first half of this year, a year-on-year increase of 25%; Achieved a net profit of 1.242 billion yuan through adjustment, a year-on-year increase of 17.8%, and rose against the backdrop of severe challenges faced by the retail industry.
The current global retail industry is undergoing significant changes, and Chinese retail is facing an unprecedented opportunity to break through. How can China create a world-class retail company with truly global competitiveness and influence? This is exactly the goal that Miniso aims to break through and achieve during this window of time, "said Ye Guofu, founder, chairman of the board, and CEO of Miniso Group.
How to break the deadlock? Ye Guofu believes that "interest consumption" will become the mainstream trend of future consumption. IP strategy has become an important lever for Miniso to lead interest consumption. Therefore, Miniso has proposed an innovative business model of "Global IP Joint Collection Store", which realizes the aggregation of multiple IP and multi category products in one store.
In addition to IP strategy, global layout is the top-level strategy of Miniso.
In recent years, under the background of economic globalization, more and more Chinese companies have turned their attention to the international market, and many Chinese companies have regarded going abroad as an important strategic direction for seeking new growth points and development breakthroughs. According to the semi annual report data, in the first half of this year, Miniso's revenue from overseas markets increased by 42.6% year-on-year, reaching 2.732 billion yuan; Accounting for 35.2% of the company's total revenue, approximately 30.9% in the same period of 2023.
Miniso has been going global since 2015 and has been operating in the United States for 7-8 years before starting to make profits this year, "said Ye Guofu." The company's global layout needs to adhere to eight words - "long termism, unlimited tilt. Specifically, entrepreneurs need to have a global perspective and a long-term spirit; There should be a significant tilt in personnel, resources, and funding; We should start with the easy and then move on to the difficult. Once we have established our presence in Malaysia, Indonesia, Thailand, and other places, we can then go to Europe and America; 'Less is more', focus on it and do not recommend significant expansion in a short period of time; Prepare international pallets.
When it comes to differentiation strategies for overseas expansion, Ye Guofu believes that there are four main points, namely product, supplier, marketing strategy, and talent differentiation.