叶国富：只有差的东西才要打广告，从创业到现在没在加盟广告上花过一分钱

Core Insights - The conversation highlighted the success of Miniso, particularly its franchise model and the effectiveness of physical stores as advertising tools [1] - Miniso's franchisees enjoy a gross margin of 38%, indicating a profitable business model [1] - The flagship store on Nanjing Road in Shanghai achieved sales of 100 million in nine months, with a peak monthly revenue of 16 million [1] - The founder emphasized that high-quality products do not require advertising, contrasting with lower-quality products that do [1]