MNSO(US:MNSO) Chang Sha Wan Bao·2025-11-19 23:48Core Insights - MINISO FRIENDS, the first themed store of MINISO in Changsha, focuses on creating an immersive shopping experience with 70 popular IP characters, transitioning from selling products to selling IPs [2][5] - The store features a modular design that allows customers to explore various IP-themed products in a mini amusement park setting, enhancing the overall shopping experience [3][5] Product Offering - The store offers a wide range of products, including plush toys and merchandise from popular IPs like Disney and Sanrio, as well as MINISO's original IP "Yuyou-chan," which has gained significant popularity since its launch [3][5] - The store layout is divided into two levels, with the basement focusing on IP and blind box products, while the second basement includes daily necessities and beauty products, catering to practical consumer needs [3][4] Strategic Expansion - MINISO is accelerating the expansion of its new store formats, including MINISO LAND, MINISO SPACE, and MINISO FRIENDS, with plans to open 25 to 30 new locations within the year, targeting core urban areas [6] - The company has partnered with over 150 global top-tier IPs and releases more than 10,000 new IP products annually, with cumulative sales of over 800 million IP products and a global sales scale exceeding 10 billion yuan [5][6] Market Trends - The interest economy in China is projected to reach 23,077.67 billion yuan in 2024, with expectations to surpass 45,000 billion yuan by 2029, indicating a shift towards experience-driven consumer decisions [6] - MINISO's CEO has emphasized the importance of deepening IP engagement to enhance brand influence both in China and globally, aligning with the trend of prioritizing emotional and social value in retail [6]