MINISO is a Japanese-Inspired lifestyle retailer offering a wide range of products for consumers. Since beginning business operations in 2013 under the stewardship of Chinese entrepreneur Ye Guofu, MINISO has explored a unique and novel business model in the retail field and to date have opened more than 4,200 stores worldwide.
MINISO is not just a brand but also a lifestyle advocate, and shares its vision of “a better life has nothing to do with the price” with all its customers. The reason for MINISO’s rapid success is its dedication to bringing consumers well-made products at reasonable prices, allowing them to enjoy a better quality lifestyle on a budget.
Ye Guo Fu
Founder and CEO of MINISO
As the co-founder and CEO of MINISO, Ye Guofu accumulated immense mastery in trendy fashion during the period of Chinese economic transformation and seized the opportunity to improve the social quality consumption patterns, bringing a brand new business model in China, which almost monopolizes China’s offline flow of customers.
Ye Guofu considered that the statement “the higher the price, the better the quality” is only the excuse for those enterprises finding a way to sell products at a high price. Those “low price with bad quality” products resulted from the profiteering desire are originated from the period of command economy. The time for “good quality with low price” products in China has just begun. In this era, the actual value of a brand should be beneficial to millions of people rather than providing services to the nobility and the rich. These very values and principles have induced the inception of MINISO.
The nature of human beings is endowed with magical powers, and we enjoy all that nature has given us. Once we learn from the nature and create from it, we may feel the joy of life!
With the unprecedented prosperity of world economy, luxury brands from Europe are blindly pursued by customers. However, counterfeit goods spread all over the market. This results in people’s two extreme consumption patterns.
As a reflection and criticism of this situation, MINISO was born!