# MINISO Group Holding Ltd

Summary updated: 2026-10-02T12:05:42.89349Z
Canonical: https://finbar.com/research/companies/miniso-group-holding-ltd

## Overview

MINISO Group Holding Ltd is a global value retailer of lifestyle products, with offerings across categories including home goods, beauty products and toys. Its business includes the MINISO brand and the specialist pop-toy brand TOP TOY, and is defined by frequent product launches and IP-related designs. [1](https://app.finbar.com/go?id=P153125438)[2](https://app.finbar.com/go?id=P153125080) The company’s stated mission is “life is for fun,” and its vision is to become “the world’s leading IP operation platform.” [3](https://ir.miniso.com/FAQs)

At December 31, 2025, MINISO operated approximately 8,151 MINISO stores in more than 90 countries and regions, alongside 334 TOP TOY stores. [4](https://app.finbar.com/go?id=P153125044) For 2025, consolidated revenue was RMB21.444 billion, and the company reported 8,329 employees at year-end. [5](https://app.finbar.com/go?id=T17633710)[6](https://www.sec.gov/Archives/edgar/data/1815846/000110465926048172/mnso-20251231x20f.htm)
[1](https://app.finbar.com/go?id=P153125438)[2](https://app.finbar.com/go?id=P153125080)[3](https://ir.miniso.com/FAQs)[4](https://app.finbar.com/go?id=P153125044)[5](https://app.finbar.com/go?id=T17633710)[6](https://www.sec.gov/Archives/edgar/data/1815846/000110465926048172/mnso-20251231x20f.htm)[3](https://ir.miniso.com/FAQs)[6](https://www.sec.gov/Archives/edgar/data/1815846/000110465926048172/mnso-20251231x20f.htm)

## Products & services

MINISO’s products are organized around three pillars: lifestyle, beauty and toys. The company develops new MINISO-brand products at scale, launching around 1,600 SKUs per month in 2025. Its product designs include collaborations with Disney, Sanrio and Universal, alongside its own character IPs, including Mini Family, DunDun Chicken, Gift Bear and Friends, and YOYO. [1](https://app.finbar.com/go?id=P153125438)[7](https://app.finbar.com/go?id=P153125054)

TOP TOY offers pop-toy products including model figures, 3D building blocks and vinyl plush toys; it had approximately 15,000 SKUs as of June 30, 2026. [2](https://app.finbar.com/go?id=P153125080)[8](https://ir.miniso.com/image/MINISO%2B2026%2BIRA_EN.pdf) The company’s filings disclose revenue by brand rather than by product pillar: in FY2025, MINISO accounted for about 91.1% of total revenue, with the remainder attributed to TOP TOY. [9](https://app.finbar.com/go?id=P153124461)
[1](https://app.finbar.com/go?id=P153125438)[7](https://app.finbar.com/go?id=P153125054)[2](https://app.finbar.com/go?id=P153125080)[9](https://app.finbar.com/go?id=P153124461)[8](https://ir.miniso.com/image/MINISO%2B2026%2BIRA_EN.pdf)

## Geographic presence

MINISO Group Holding Ltd.’s FY2025 revenue was geographically distributed across Chinese Mainland (RMB12.577 billion; 58.7%), other Asian countries excluding China (RMB2.736 billion; 12.8%), North America (RMB3.343 billion; 15.6%), Latin America (RMB1.560 billion; 7.3%), Europe (RMB0.704 billion; 3.3%) and other markets (RMB0.523 billion; 2.3%). Total revenue was RMB21.444 billion. [10](https://app.finbar.com/go?id=T17633527)

At December 31, 2025, MINISO had 8,151 stores worldwide, including 4,568 in Chinese Mainland and 3,583 overseas. Of the overseas stores, 700 were directly operated, 432 operated by Retail Partners and 2,451 by distributors; the company states that most of its overseas stores are distributor-operated. [11](https://app.finbar.com/go?id=P153125447)[12](https://app.finbar.com/go?id=P153125539)[13](https://app.finbar.com/go?id=P153125108) The company’s principal executive offices are in Guangzhou, Guangdong, China, and it is incorporated in the Cayman Islands. [14](https://app.finbar.com/go?id=P153125038)[15](https://app.finbar.com/go?id=P153124943) MINISO reported entering 112 countries and regions as of June 2025. [16](https://www.miniso.com/brand/news_173.html)
[10](https://app.finbar.com/go?id=T17633527)[11](https://app.finbar.com/go?id=P153125447)[12](https://app.finbar.com/go?id=P153125539)[13](https://app.finbar.com/go?id=P153125108)[14](https://app.finbar.com/go?id=P153125038)[15](https://app.finbar.com/go?id=P153124943)[16](https://www.miniso.com/brand/news_173.html)

## Business segments

For FY2025, MINISO Group Holding Ltd reported three operating segments: MINISO brand—Chinese Mainland, MINISO brand—Overseas, and TOP TOY. The MINISO business is divided geographically, while TOP TOY is reported as a separate brand-focused segment. [17](https://app.finbar.com/go?id=P153126740)

By FY2025 external revenue, MINISO—Chinese Mainland contributed approximately 50.8% (RMB10,896 million), MINISO—Overseas 40.2% (RMB8,629 million), and TOP TOY 8.9% (RMB1,916 million), calculated against consolidated revenue of RMB21,444 million. [5](https://app.finbar.com/go?id=T17633710) MINISO is the group’s lifestyle retail brand, offering products across categories including lifestyle, beauty, and toys; TOP TOY focuses on pop toys, including model figures, 3D building blocks, and vinyl plush. [1](https://app.finbar.com/go?id=P153125438)[4](https://app.finbar.com/go?id=P153125044)[2](https://app.finbar.com/go?id=P153125080)
[17](https://app.finbar.com/go?id=P153126740)[5](https://app.finbar.com/go?id=T17633710)[5](https://app.finbar.com/go?id=T17633710)[5](https://app.finbar.com/go?id=T17633710)[5](https://app.finbar.com/go?id=T17633710)[5](https://app.finbar.com/go?id=T17633710)[1](https://app.finbar.com/go?id=P153125438)[4](https://app.finbar.com/go?id=P153125044)[2](https://app.finbar.com/go?id=P153125080)

## Company history

MINISO’s origins date to August 2009, when founder Guofu Ye established predecessor Miniso Corporation; the retail business began operating in 2013, when the first MINISO store opened in Guangzhou. The company launched an internationalization strategy in 2015 and an intellectual-property strategy in 2016, broadening its product and market development. [18](https://app.finbar.com/go?id=P153125749)[19](https://app.finbar.com/go?id=P153125014)[20](https://www.miniso.com/brand/news_106.html)[21](https://www.miniso.com/brand/news_130.html)[22](https://www.miniso.com/brand/news_119.html)

In 2017, MINISO established Miniso Guangzhou as its PRC holding company and subsequently transferred predecessor operations and related assets and liabilities into it. In 2020, the group established its offshore holding structure, launched the TOP TOY pop-toy brand, and completed an IPO on the New York Stock Exchange on October 15. Founder Ye became chairman and CEO that year. [19](https://app.finbar.com/go?id=P153125014)[23](https://app.finbar.com/go?id=P153125026)[24](https://app.finbar.com/go?id=P153125028)[25](https://app.finbar.com/go?id=P153125029)[2](https://app.finbar.com/go?id=P153125080)[18](https://app.finbar.com/go?id=P153125749)

MINISO listed ordinary shares on the Hong Kong Stock Exchange in July 2022. In 2024, it agreed to acquire a 29.4% stake in Yonghui Superstores; the transaction closed in February 2025. [26](https://app.finbar.com/go?id=P153125033)[27](https://app.finbar.com/go?id=P153125036)
[18](https://app.finbar.com/go?id=P153125749)[19](https://app.finbar.com/go?id=P153125014)[20](https://www.miniso.com/brand/news_106.html)[21](https://www.miniso.com/brand/news_130.html)[22](https://www.miniso.com/brand/news_119.html)[23](https://app.finbar.com/go?id=P153125026)[24](https://app.finbar.com/go?id=P153125028)[25](https://app.finbar.com/go?id=P153125029)[2](https://app.finbar.com/go?id=P153125080)[26](https://app.finbar.com/go?id=P153125033)[27](https://app.finbar.com/go?id=P153125036)[20](https://www.miniso.com/brand/news_106.html)[21](https://www.miniso.com/brand/news_130.html)[22](https://www.miniso.com/brand/news_119.html)

## Sources

1. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=P153125438)
2. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=P153125080)
3. [ir.miniso.com](https://ir.miniso.com/FAQs)
4. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=P153125044)
5. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17633710)
6. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1815846/000110465926048172/mnso-20251231x20f.htm)
7. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=P153125054)
8. [ir.miniso.com](https://ir.miniso.com/image/MINISO%2B2026%2BIRA_EN.pdf)
9. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=P153124461)
10. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=T17633527)
11. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=P153125447)
12. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=P153125539)
13. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=P153125108)
14. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=P153125038)
15. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=P153124943)
16. [www.miniso.com](https://www.miniso.com/brand/news_173.html)
17. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=P153126740)
18. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=P153125749)
19. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=P153125014)
20. [www.miniso.com](https://www.miniso.com/brand/news_106.html)
21. [www.miniso.com](https://www.miniso.com/brand/news_130.html)
22. [www.miniso.com](https://www.miniso.com/brand/news_119.html)
23. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=P153125026)
24. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=P153125028)
25. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=P153125029)
26. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=P153125033)
27. [MINISO Group Holding Ltd — Full financial report (2025 Y)](https://app.finbar.com/go?id=P153125036)

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