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MINISO Group Holding Limited reports developments as a global value retailer of trendy lifestyle products featuring IP designs. The company serves consumers through the MINISO store network and operates TOP TOY for pop toys, with updates often centered on store openings, same-store sales or GMV, revenue, margins, and brand performance in mainland China and overseas markets.
MINISO also discloses annual general meeting materials, annual reporting, ADS and Hong Kong ordinary-share voting matters, ownership and governance updates, and capital-market communications tied to its NYSE and HKEX listings.
MINISO (NYSE: MNSO) has launched its first physical store in Portugal, along with an online store, on January 7, 2021. Based in Vila Nova de Gaia, the new store features over 1,400 products across 11 categories, including home decor, electronics, and beauty items. This move is part of MINISO's strategy to enhance its presence in Europe, where it has opened over 100 stores in various countries. The inauguration included exclusive offers for the first 50 customers and attendance from local influencers.
MINISO (NYSE: MNSO) revealed consumer trends from over 6 million transactions across 25 markets from November 1 to December 15, 2020. Notably, festive gift purchases increased by 13% in China and 15% in the US and Spain compared to last year, with Singapore experiencing a remarkable 186.3% surge. Despite lower unit prices on 75% of products, consumer demand strengthened. Online sales in China surged 352% during the Double 11 shopping festival, with Indonesian sales up 71%. The company has opened over 100 stores post its NYSE listing in October, showcasing its robust growth trajectory.
MINISO Group (NYSE: MNSO) reported its fiscal Q1 results for the period ending September 30, 2020, showing a 30.7% year-over-year revenue decrease to RMB2,072.1 million (US$305.2 million). Despite a 33.4% increase quarter-over-quarter, gross profit fell 44.3% to RMB522.4 million (US$76.9 million). Loss from continuing operations surged to RMB1,676.3 million (US$246.9 million). Adjusted net profit was RMB102.1 million (US$15.0 million), a 74.6% decline year-over-year but a 140.8% increase from the previous quarter. The store count rose to 4,330 globally.
MINISO Group Holding Limited (NYSE: MNSO) announced it will release its financial results for the September quarter 2020 on December 18, 2020, before U.S. markets open. A conference call with management is scheduled for 7:00 A.M. ET on the same day to discuss the results. The call can be accessed via multiple international and U.S. toll-free numbers. MINISO, a global value retailer known for design-led lifestyle products, has rapidly expanded since its establishment in 2013, aiming to create an engaging shopping experience for consumers.
MINISO Group Holding Limited (NYSE: MNSO) announced a joint venture with YGF MC Limited to acquire land for a new headquarters in Guangzhou. MINISO will own 20% of the joint venture, contributing RMB356 million, while YGF MC will invest RMB1,424 million. The total estimated investment for the headquarters project is about RMB2,885 million, with RMB1,780 million allocated for land acquisition and the rest for construction costs. This strategic move aims to strengthen MINISO's market presence and operational capacity in the growing retail sector.
On December 6, 2020, MINISO (NYSE: MNSO) opened its first store in Iceland, marking its entry into Northern Europe. This expansion is part of MINISO's strategy to grow its footprint in Europe, having opened over 100 stores in the region by the end of November. The Iceland store, located in Reykjavik's Kringlan mall, attracted significant customer interest, with more than 100 people queuing at times. The company aims to disrupt the local market by offering high-quality, affordable daily necessities. In addition, MINISO opened two stores in France and one in the UK this month.
MINISO (NYSE: MNSO) has opened its fourth store in India this November, demonstrating its commitment to brand localization and market visibility. As the holiday season approaches, the company is launching promotions, including discounts for purchases over INR 1,000. In celebration of Diwali, MINISO engaged customers through various online and offline activities, enhancing brand connection. Currently, MINISO operates over 140 stores in India, emphasizing its strategy to increase local sourcing and provide affordable, high-quality products to Indian consumers.
MINISO Group Holding Limited has announced the pricing of its initial public offering (IPO) of 30,400,000 American Depositary Shares (ADSs) at US$20.00 per ADS. Trading is set to commence on the New York Stock Exchange under the ticker symbol MNSO on October 15, 2020. The offering's gross proceeds are projected to reach US$608 million without underwriter options and US$699.2 million if the underwriters fully exercise their option for additional 4,560,000 ADSs. The IPO is expected to close on October 19, 2020.