Chinese lifestyle retailer Miniso is set to launch its first ‘blue’ retail destination at Bluewater Shopping Centre in Kent next month. The store, located on the Lower Thames Walk opposite Foot Locker, will open on June 7th. Spanning 2,000 square feet, it will showcase the brand’s Beauty & Self-care range, which includes face masks, hand creams, lip masks, fragrances, and essential makeup products.
Additionally, the store will feature Miniso’s best-selling items such as popular Blind Box collectibles, soft plush toys, homewares, and accessories. Departing from Miniso’s usual pink theme, the Bluewater store’s blue design is inspired by Cinnamoroll, a beloved children’s character series created by Sanrio.
This latest opening will mark the retailer’s 27th store in the UK, following successful launches at other shopping centres such as Westfield Stratford City, Westfield White City, Ealing Broadway Shopping Centre, and Brent Cross. Notably, its largest store in the country is located in London’s Camden. Overall, Miniso operates more than 6,000 stores across over 100 countries.
In the first three months of this year, Miniso’s total revenue was 3.724 billion yuan, representing a year-on-year increase of 26%. The adjusted net profit was 617 million yuan, marking a year-on-year increase of 27.7%, with an adjusted net profit margin of 16.6%, compared to 16.4% in the same period in 2023.
By market segment, Miniso’s domestic revenue for the first three months of this year was 2.502 billion yuan, a year-on-year increase of 16.2%. Domestic offline store revenue grew by 15.6% year-on-year, primarily due to an 18.7% increase in the average number of stores and same-store sales reaching approximately 98% of the high base from the same period last year. TOP TOY revenue saw a rapid year-on-year increase of 55.1%, mainly because the average number of TOP TOY stores increased by 32.2% year-on-year, and same-store sales grew by about 26% compared to the same period in 2023.
Additionally, Miniso’s revenue in overseas markets grew by 52.6% year-on-year to 1.222 billion yuan. Miniso attributed the significant increase in overseas revenue to a 19.7% year-on-year increase in the average number of stores and a robust same-store sales growth of about 21%.
As for the number of stores, as of March 31, 2024, Miniso had a total of 6,630 stores worldwide, an increase of 1,116 year-on-year and a growth of 217 stores from the previous quarter. Among these, the number of domestic stores surpassed the 4,000 mark for the first time, reaching 4,034.
