Chinese lifestyle retailer Miniso is amplifying its commitment to intellectual property (IP), identifying IP creation and immersive retail experiences as essential aspects of its future worldwide growth.
During its Global Partner Conference, Miniso announced plans to ramp up investments in both licensed and self-owned IP. This announcement marks a significant departure from the company’s original focus on affordable lifestyle products, as it now moves towards an IP-centric business model.
Since 2020, Miniso has established partnerships with over 180 external IP owners, encompassing a broad range of international entertainment and pop culture identities.
Miniso’s founder and CEO, Ye Guofu, stated that intellectual property embodies emotion, culture, and significance. He asserted that the next phase of competition would hinge on who has a more profound understanding of culture and IP.
Guofu also expressed that Miniso aspires to craft globally-acclaimed, original IP and introduce hundreds of IPs to international markets in the coming decade.
This strategic direction is strongly supported by Miniso Land. This large-scale store concept is built around engaging IP experiences unlike the typical Miniso stores. Miniso Land locations showcase theme-oriented environments and character-based merchandise, with the majority of the product range being IP-related.
Miniso recently inaugurated a new Miniso Land flagship store in Guangzhou’s Grandview Mall. This is the city’s second such store, where approximately 90% of the merchandise is IP-related. This unique store format has also been introduced in other locations such as Shanghai, Beijing, and certain international markets like Thailand.
As a component of its global expansion strategy, Miniso has plans to expedite the worldwide introduction of the Miniso Land concept this year.
What is Miniso’s new focus in its business approach?
Miniso is moving away from its traditional focus on affordable lifestyle products towards an IP-centric business model, with a significant investment in both licensed and proprietary IP.
What is the role of Miniso Land in the company’s new strategy?
Miniso Land supports the company’s new strategy as a large-scale store concept built around engaging IP experiences. Unlike standard Miniso stores, these locations showcase themed environments and character-based merchandise.
What are Miniso’s plans for the Miniso Land concept this year?
As a part of its global expansion strategy, Miniso plans to expedite the worldwide rollout of the Miniso Land concept this year.
