WSJยท2025-09-29 04:55Core Viewpoint - Chinese retail brand Miniso is planning to spin off its pop-culture collectibles unit and pursue a separate listing in Hong Kong, aiming to replicate the success of Pop Mart, known for its Labubu figures [1] Company Summary - Miniso intends to leverage the growing market for pop-culture collectibles by establishing a distinct entity for this segment [1] - The strategy reflects a broader trend among retail brands to capitalize on niche markets and enhance shareholder value through focused business units [1] Industry Summary - The collectibles market, particularly in pop culture, has seen significant growth, with companies like Pop Mart achieving notable success [1] - The move by Miniso indicates a competitive landscape where companies are increasingly looking to diversify and specialize in high-demand sectors [1]