China $4.8 Billion Lifestyle & Budget Retail Giant MINISO Buys 29.4% of Yonghui Superstores for $898 Million (CNY 6.27 Billion), Acquiring Yonghui Superstores 29.4% Stakes from JD.com, Milk Limited & Suqian Hanbang Investment Management, MINISO Founded in Guangzhou in 2013 by Ye Guofu Who is a Billionaire with $3 Billion Fortune, IPO on New York Stock Exchange in 2020
27th September 2024 | Hong Kong
China lifestyle & budget retail giant MINISO ($4.8 billion market value) has announced to buy 29.4% of Yonghui Superstores for $898 million (CNY 6.27 million), acquiring Yonghui Superstores 29.4% stakes from JD.com, Milk Limited & Suqian Hanbang Investment Management. MINISO was founded in Guangzhou (China) in 2013 by Ye Guofu, who is a billionaire with $3 billion fortune. MINISO IPO on New York Stock Exchange (NYSE) in 2020. Ye Guofu – As the 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 monopolized 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. MINISO – MINISO Group is a global lifestyle retailer offering a variety of design-led lifestyle products. The Company serves consumers primarily through its large network of MINISO stores, and promotes a relaxing, treasure-hunting and engaging shopping experience full of delightful surprises that appeals to all demographics. Aesthetically pleasing design, quality and affordability are at the core of every product in MINISO’s wide product portfolio, and the Company continually and frequently rolls out products with these qualities. Since the opening of its first store in China in 2013, the Company has built its flagship brand “MINISO” as a globally recognized retail brand and established a massive store network worldwide.
“ China $4.8 Billion Lifestyle & Budget Retail Giant MINISO Buys 29.4% of Yonghui Superstores for $898 Million (CNY 6.27 Billion), Acquiring Yonghui Superstores 29.4% Stakes from JD.com, Milk Limited & Suqian Hanbang Investment Management, MINISO Founded in Guangzhou in 2013 by Ye Guofu Who is a Billionaire with $3 Billion Fortune, IPO on New York Stock Exchange in 2020 “
China $4.8 Billion Lifestyle & Budget Retail Giant MINISO Buys 29.4% of Yonghui Superstores for $898 Million (CNY 6.27 Billion), Acquiring Yonghui Superstores 29.4% Stakes from JD.com, Milk Limited & Suqian Hanbang Investment Management, MINISO Founded in Guangzhou in 2013 by Ye Guofu Who is a Billionaire with $3 Billion Fortune, IPO on New York Stock Exchange in 2020
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