MINISO Group Holding Ltd

MINISO Group Holding Ltd is a global high-growth value retailer offering trendy lifestyle products, many featuring distinctive intellectual property (IP) designs. The company operates two brands: MINISO and TOP TOY. MINISO, the flagship brand, generated revenue of RMB19.5 billion (US$2.8 billion) in 2025, with an aggregate Gross Merchandise Volume (GMV) of approximately RMB34.5 billion (US$4.9 billion). As of December 31, 2025, the MINISO brand had an extensive global store network of approximately 8,151 stores in over 90 countries and regions. This included approximately 4,568 MINISO stores in Chinese Mainland and 3,583 MINISO stores overseas. TOP TOY is China's leading pop toy collection brand, which achieved revenue of RMB1.9 billion (US$0.3 billion) and a GMV of RMB2.6 billion (US$0.4 billion) in 2025. This brand focuses on offering pop toy products with a wider product price range and higher average order value, catering to a broader consumer demographic. As of December 31, 2025, TOP TOY had a total of 334 stores, including 30 TOP TOY stores in overseas markets. The company leverages its retail expertise and supply chain capabilities to support both brands.