Miniso’s Yoyo IP crosses 1 billion yuan GMV milestone in 2026
Lifestyle retailer Miniso Group Holding Ltd. (MNSO.US; 9896.HK) said on Thursday that its gross merchandise volume (GMV) for products based on its Yoyo intellectual property (IP) surpassed 1 billion yuan ($149 million) in the first nine months of the year. It announced the milestone as the company and its peers race to develop the next hot IP to rival pop toymaker Pop Mart’s (9992.HK) Labubu.
Miniso introduced its Yoyo toys in June last year, and they are now available in 53 countries and regions worldwide. As the IP gained momentum, it generated 200 million yuan in GMV in the month of August alone, after generating more than 100 million yuan in both June and July, the company said. It added the IP’s appeal stems from its “minimalist, highly recognizable visual identity.”
Miniso had 8,674 stores in 113 countries and regions at the end of June, up 10% year-on-year, including 8,309 under its namesake Miniso brand and another 365 under its Top Toy specialty retailer. The company’s revenue rose 22.4% year-on-year to 11.5 billion yuan in the first half of this year, while its profit rose 5.6% to 957 million yuan.
Miniso’s Hong Kong-listed stock rose 1% to close at HK$17.97 on Friday. The stock is down about 51% year-to-date.
By Doug Young
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