China-based lifestyle retailer MINISO reported stronger-than-expected first-quarter 2026 results, with all major business segments posting robust growth as the company continued to benefit from global expansion, IP-driven merchandise demand and rising same-store sales momentum.
The Guangzhou-headquartered retailer posted revenue of RMB 5.69 billion (around US$824.6 million) for the quarter ended March 31, 2026, marking a 28.5 per cent year-on-year increase. The company said the results surpassed its own expectations, driven by solid same-store sales growth and strong consumer demand across markets.
MINISO founder, chairman and CEO Ye Guofu said the company started 2026 on a strong note. “Revenue on group level grew by 28.5% YoY, kicking off 2026 by outperforming our previous expectation,” Ye said in the company’s earnings release.
The company’s mainland China business delivered its fifth consecutive quarter of accelerating growth, with revenue rising 29.6 per cent year-on-year. Overseas revenue also climbed 21.9 per cent, supported by expansion in Asia, North America and Latin America.
MINISO’s collectible toy business, TOP TOY, emerged as one of the biggest growth drivers during the quarter, with revenue jumping 51.4 per cent amid continued popularity of blind boxes and pop-culture merchandise.
The retailer’s profit for the quarter surged 199.7 per cent year-on-year to RMB 1.25 billion, while operating profit rose 114.3 per cent to RMB 1.52 billion. The company said part of the increase was supported by gains linked to an AI-focused investment partnership.
As of March 31, 2026, MINISO’s total global store count stood at 8,565 stores, reflecting a net increase of 797 stores year-on-year. This included 8,210 MINISO stores and 355 TOP TOY stores worldwide. Of the MINISO stores, 4,593 were located in mainland China, while 3,617 operated in overseas markets.
The company said it will continue to deepen its globalization and IP strategies during the second half of 2026 through store expansion, product upgrades and partnerships with global entertainment brands.
Founded in 2013, MINISO has grown into one of the world’s largest lifestyle retail chains, known for affordable design-led products and collaborations with major entertainment franchises including Disney, Sanrio, Pokémon, Barbie and Harry Potter.
