MINISO's Bold Pivot: Building a Retail Empire on Proprietary IP

GUANGZHOU, China – February 03, 2026 – Global lifestyle retailer MINISO has unveiled an ambitious and transformative roadmap, signaling a decisive shift from a successful purveyor of licensed goods to a full-fledged creator and operator of its own intellectual property. Announced at its 2026 Global Partner Conference in Guangzhou, the company is accelerating its evolution into a “global IP operation platform,” a strategy built on developing proprietary characters, launching immersive retail experiences, and investing heavily in creative talent.

This strategic pivot moves the company into a new competitive arena, betting that the future of retail lies not just in selling products, but in owning the cultural narratives and emotional connections that popular characters provide. With a history of successful collaborations involving over 180 global IPs like Disney and Sanrio that have resulted in over 800 million product sales since 2020, MINISO is now leveraging that experience to build its own universe of characters.

The Rise of Proprietary Characters

At the heart of MINISO's new direction is a rapidly expanding portfolio of in-house intellectual properties. Since early 2025, the company has been incubating a stable of original characters, including YOYO, Kumaru, Angry Amiee, and Carrot Street, which it reports are already cultivating significant fan followings. The early commercial results appear to validate this high-stakes bet.

The company’s flagship proprietary IP, Gift Bear and Friends, has demonstrated significant market traction, generating over RMB 200 million in sales since its launch in October 2023. Meanwhile, the character YOYO has become a viral sensation within six months of its debut, driving strong foot traffic to stores and sparking a wave of user-generated content across social media platforms, proving its cross-cultural appeal.

This focus on original creation is a core belief of the company's leadership. "IP represents emotion, culture, and meaning. The next stage of competition will be defined by who understands culture and IP more deeply," stated Ye Guofu, founder and CEO of MINISO, at the conference. He underscored the company’s long-term vision: "We must stay curious and keep learning to create world-class original IPs and bring 100 IPs to the global stage over the next decade."

MINISO LAND: Where IP Comes to Life

To amplify the value of its growing IP roster, MINISO is fundamentally reimagining its physical retail footprint. The company is aggressively rolling out its 'MINISO LAND' concept—large-format, immersive flagship stores designed as multifunctional hubs for IP display, fan interaction, and commerce. In these sprawling spaces, IP-related products constitute up to 90% of the entire assortment, transforming a simple shopping trip into an engaging brand experience.

The latest example is the new MINISO LAND flagship at Guangzhou's high-traffic Grandview Mall, which opened its doors in conjunction with the conference. The store, spanning over 1,000 square meters across two floors, features a striking three-dimensional façade weaving proprietary characters like YOYO and Gift Bear into a vibrant visual landmark. It follows the spectacular success of the Shanghai MINISO LAND on Nanjing Road, which set a global single-month sales record for the company in August 2025, pulling in RMB 16 million, with IP products accounting for 83% of that figure.

These stores are more than just sales channels; MINISO views them as essential “IP operating infrastructure.” They serve as launchpads for new characters, testing grounds for new products, and physical touchpoints that deepen the bond between fans and the brand's creative universe. With MINISO LAND locations now operating in major Chinese cities and select overseas markets like Thailand, the company plans to accelerate the global rollout of the format in 2026.

Hunting for the Next IP Genius

Recognizing that a sustainable IP ecosystem requires a constant wellspring of creativity, MINISO has launched a major initiative to attract top-tier global talent. The new 'MINISO IP Genius Program' is designed as a full-chain incubation pathway to discover and nurture the next generation of character creators.

In a bold move to attract the best in the industry, the program offers individual annual compensation of up to RMB 10 million (approximately $1.4 million USD) to creatives tasked with developing breakthrough proprietary IPs. This significant investment is intended to build a global pipeline of artists and designers, whose creations will then be fast-tracked for commercialization across international markets, powered by MINISO’s extensive end-to-end operational strengths in product development, supply chain, and retail distribution.

A New Battlefield in the Creative Economy

MINISO's strategic pivot places it in direct competition with IP-centric retail darlings like Pop Mart and signals an ambition to emulate the vertically integrated, character-driven models of global giants such as Disney and Sanrio. By shifting from licensing existing popular characters to creating its own, MINISO is aiming for a more defensible market position and greater control over its brand identity.

This IP-centric model carries significant financial implications. Proprietary and co-branded IP products command higher price points and deliver stronger gross margins compared to generic lifestyle goods. This shift is a calculated move to enhance long-term profitability and build a business less susceptible to the whims of fast-fashion and retail price wars. By fostering its own hit characters, the company seeks to forge unique emotional connections with consumers that transcend product trends.

Through the dual strategy of scaling its proprietary IP portfolio while expanding the global presence of its immersive MINISO LAND stores, the company is strengthening its ability to connect with audiences worldwide. This integrated approach, blending content, commerce, and community, marks a new chapter for MINISO as it methodically builds the foundations for its future as a formidable global IP operation.