Miniso Group, a prominent retailer based in China, reported a significant growth in sales in its first quarter, owing to strong performances across all business areas. The company’s revenue saw a year-on-year increase of 28.5%, totalling up to US$824.6 million for the quarter ending on March 31. The impressive results, primarily fueled by a noticeable boost in same-store sales, surpassed the management’s initial projections.
Miniso’s business in Mainland China marked its fifth successive quarter of revenue growth, registering a 29.6% increase. Concurrently, the company’s overseas revenue saw a rise of 21.9%. The Top Toy segment also maintained its growth trajectory in the pop toy industry, posting a sales growth of 51.4%.
The company’s profit for the period skyrocketed by 199.7% year-on-year to $180.9 million. This surge was primarily attributable to an unrealised market gain of $126.8 million arising from fair value alterations in an investment related to a limited partnership in the AI industry. Moreover, the adjusted net profit witnessed an 8.1% increase, amounting to $79.8 million.
Guofu Ye, the founder, chairman, and CEO of Miniso Group, expressed his delight at the company’s remarkable performance in the quarter. He underscored the growing momentum of the company, stating his intent to increase his holdings as a testament to his faith in the company’s future prospects. He went on to add that the current valuation of Miniso Group does not fully encapsulate its intrinsic potential.
Ye, who presently owns approximately 63.7% stake in the company (excluding treasury shares), had earlier disclosed his plans to increase his stake by at least $6.4 million over the course of the upcoming year.
Heading into the second half of 2026, Ye expressed the company’s commitment to intensify its globalisation and IP strategies, aiming to drive high-quality growth. The company plans to achieve this through continuous product mix optimisation, expansion and upgrade of store networks, and leveraging a multi-dimensional IP matrix, all in line with its long-term objectives.
As of March 31, Miniso’s store count stood at 8565, indicating a net increase of 797 stores year-on-year. The Miniso brand boasted 8210 stores, including 4593 in Mainland China and 3617 overseas.
What was the key driver behind Miniso’s impressive sales growth in the first quarter?
The company’s outstanding sales growth was primarily driven by strong performances across all business segments, with significant contribution from mid-single-digit same-store sales growth.
What are Miniso’s plans for the second half of 2026?
Miniso intends to deepen its globalisation and IP strategies, continuously optimize its product mix, expand and upgrade its store network, and leverage a multi-dimensional IP matrix to drive high-quality growth.
How many stores does Miniso currently operate?
As of March 31, Miniso operated a total of 8565 stores, with the Miniso brand having 8210 stores, including 4593 in Mainland China and 3617 overseas.
