MINISO Group Holding Ltd

MINISO opened its first pilot store in Guangzhou, China in 2013, near its factory. It then expanded to Hong Kong, Singapore, and Malaysia before opening several stores in Sydney, Australia. The company was co-founded by Chinese entrepreneur Ye Guofu in 2013. According to Ye, the brand's early product designs were developed in collaboration with a Japanese designer. However, some media outlets have questioned the authenticity or existence of this designer, suggesting a lack of verifiable information or public records regarding their identity.

The company initially employed a Japanese-influenced branding strategy, despite previously operating under Chinese company Aiyaya. MINISO's first overseas store was opened in Singapore in 2015, two years since its debut in Guangzhou. MINISO has since expanded outside of the Chinese market and operates 6,868 in Asia, Europe, Oceania, Africa, North America, and South America.

In January 2017, MINISO announced that they were seeking to enter the North Korean market, opening their first store in Pyongyang four months later. According to The Economist, the store was popular among the country's wealthy but only accepted foreign currency, including the US dollar, Chinese yuan, and euro as payment. Soon after opening, the company's Japanese branch came under pressure for violating United Nations Security Council Resolution 2321 prohibiting trade with North Korea, distanced themselves from the move, and blamed the Chinese offices for the decision. As a result of the controversy, MINISO promised not to ship any more products to North Korea and the Pyongyang store was rebranded as "Evolution".

In September 2018, MINISO received its first external strategic investment funding of one billion RMB from Tencent and Hillhouse Funding Group. On December 18, 2018, MINISO Canada filed for bankruptcy. In March 2019, MINISO China took over the operations of MINISO Canada. On March 13, 2019, MINISO partnered with Marvel to introduce a range of themed products. MINISO went public on the NYSE in October 2020 under the name MNSO.

In December 2020, MINISO launched a toy brand called TOP TOY, with its first global flagship store located in Guangzhou, Guangdong. In August 2022, MINISO apologized for "wrong brand positioning and marketing", admitting that the company was a "proud Chinese brand through and through", and said it would remove its Japanese inspired elements (including their katakana logo, メイソウ MEISOU ) by March 2023. In 2023, MINISO released new brand strategies including launching different store types such as IP-themed stores, "super stores" and national flagship stores and changed the font on the logo. Their stores have been revamped, removing most Japanese references, and are much larger in size for more products. In May 2024, MINISO ceased operations in the Republic of Ireland and went into administration in Australia for the second time in four years.

As of June 2024, MINISO has established collaborations with over 100 intellectual properties, including Disney, Sanrio, Barbie, Sesame Street, Minions, Pokémon, Harry Potter, Care Bears, Peanuts, Tom and Jerry, Teletubbies, Strawberry Shortcake, We Bare Bears, My Little Pony, The Powerpuff Girls and the Beijing Palace Museum. The company currently operates four design centers in China, the United States, Japan, and South Korea. It has launched over 10,000 stock keeping units (SKUs) related to intellectual properties. After partnering with Mattel Inc. since 2022 and releasing Barbie -themed products since 2023, MINISO acquired several percent of Mattel 's shares. The acquisition was officially announced at the Barbie 65th anniversary celebrations in April 2024. Also in 2024, MINISO opened its largest Barbie-themed store in Malaysia and Vietnam, attended by both Mattel and MINISO's directors and staff.

On 9 December 2024, Mirage Retail Group, the operator of MINISO Netherlands stores, was declared bankrupt. In February 2025, Mirage Retail Group put MINISO Netherlands up for sale.