Miniso, best known for its Hello Kitty products, has achieved a record turnover of 3.4 billion euros last year. The Chinese retail brand managed to open a whopping 1,200 new stores in one year.
“Super brand” in the making
Miniso’s turnover in China grew by 10.9 %, building on a strong increase of 36.2 % in the previous year. However, that growth was eclipsed by its international growth, with a turnover increase of 41.9 % outside of China. Foreign markets now account for 39.4 % of the grop’s total turnover. The ambitious expansion (the number of branches outside China has now exceeded 3,000) underlines the company’s ambition to become a “super brand” in global retail.
Gross profit rose by 34 % to 1.5 billion euros last year, while operating profit increased by 17.6 % to 670 million euros. Chief Financial Officer Eason Zhang points out that the gross margin has now improved for eight consecutive quarters.
Against this background, Zhang is also confident that Miniso will continue to achieve its growth targets. This year, the chain is focusing on further optimising turnover per store by improving the store layout and product range. At the same time, Miniso is aiming for a higher return per store through tighter cost and margin control.
