[{"_1":2,"_81":-5,"_82":-5},"loaderData",{"_3":4,"_6":7},"root",{"_5":-5},"user","routes/tag.$slug",{"_8":9,"_70":71,"_78":73,"_79":62,"_80":62},"posts",[10],{"_11":12,"_13":14,"_15":16,"_17":18,"_19":20,"_21":22,"_23":24,"_25":26,"_27":28,"_29":30,"_31":32,"_33":-5,"_34":35,"_36":37,"_47":48,"_63":64,"_65":66,"_67":68,"_69":32},"documentId","v4mzu5jleg2glhnio21i65un","title","Lifestyle Goods Retailer Miniso Applies for Secondary Listing on HKEx","slug","lifestyle-goods-retailer-miniso-applies-for-secondary-listing-on-hkex","excerpt","Chinese budget lifestyle retailer Miniso, which is currently listed in the U.S., submitted an IPO application to the Hong Kong Stock Exchange (HKEx) on Thursday.","content","\n

Chinese budget lifestyle retailer Miniso, which is currently listed in the U.S., submitted an IPO application to the Hong Kong Stock Exchange (HKEx) on Thursday, with Bank of America, Haitong International Securities Group Limited and UBS serving as co-sponsors.

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Miniso listed on the New York Stock Exchange in October of 2020, raising $608 million in the process. However, the company's share price has fallen by more than 66% since its listing, and it closed at $7.88 on Thursday.

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Founded in 2013, Miniso now owns two brands – Miniso and Top Toy. The first Miniso store was opened in Guangzhou in 2013, and there are currently 5,045 stores worldwide, including 3,168 in China and 1,877 in overseas markets. By the end of 2021, about 41% of domestic Miniso stores were located in third-tier or lower cities.

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In order to seize the potential of the trendy toys market, Miniso launched the Top Toy brand in December 2020. As of December 31, 2021, there were 89 Top Toy stores in operation.

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Miniso's products focus on the \"711 Concept.\" According to the prospectus, about 100 new stock keeping units (SKUs) will be launched every seven days. As of June 30, 2021, about 550 SKUs have been launched every month on average.

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According to its listing application, in the six months ended in December 2021, the revenue of Miniso increased by 24.2% to 5.42 billion yuan ($853 million), while adjusted net profits increased by 114% to 398.6 million yuan. The company said it expected strong growth due to the booming retail and popular toy market in China.

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Miniso stated in its prospectus that the funds raised from this listing will be mainly used for the expansion and upgrading of its store network, supply chain improvements and product development, as well as brand promotion and cultivation.

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China's popular toy market is expected to grow by 24% between 2022 and 2026, according to Miniso's filing, citing data from Frost & Sullivan. In 2021, the gross merchandise volume of this domestic market will reach 34.5 billion yuan.

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Tag: #retailer

Lifestyle Goods Retailer Miniso Applies for Secondary Listing on HKEx