Chinese budget retailer Miniso bets big on collectible designer toys

Core Insights - Miniso aims to become a leading player in the designer toy market while enhancing its digital presence through tailored e-commerce initiatives and maintaining its strength in offline shopping experiences [1] Group 1: E-commerce Strategy - Miniso is experimenting with product customization to align with the unique attributes of various e-commerce platforms in China [2] - The company plans to launch extra-large plush toys on Douyin, leveraging video-based marketing to enhance visibility and appeal [3] - Online sales accounted for over 6% of Miniso's revenue in the first half of the year, an increase from 5.2% a year earlier [6] Group 2: Product Focus and Brand Development - Founded in 2013, Miniso shifted its mission to become a leading IP operation platform, focusing on intellectual property-based toys and goods [4] - The company launched the Top Toy brand in 2020, specializing in toy products, and plans to spin off and list this brand on Hong Kong's stock exchange [5] Group 3: Offline Experience - Despite the push into e-commerce, Miniso's foundation remains anchored in physical stores, offering unique experiences such as themed pop-up stores that cannot be replicated online [7]