Miniso isn’t waiting around for the next pop culture phenomenon (Labubus, anyone?). The China-based retailer is strengthening its in-house intellectual property development in the hopes of creating the next hit character itself, with a new incubation hub for proprietary IP for which it already has signed nine artists.
Miniso already has a significant portfolio of proprietary IP products, including DunDun Chicken, PenPen Penguin and the Gifford Bear, which has achieved significant sales since its October 2023 launch. One recently developed Miniso IP, Yoyo, already has sold well in both online and offline channels, and Miniso will roll it out to countries beyond China within the next year.
“Miniso possesses unique resources for proprietary IP development: complete category coverage, full-channel penetration, a global footprint and end-to-end operations,” said Ye Guofu, Founder and CEO of Miniso in a statement. “Our investment in proprietary IP is not a short-term commercial strategy but a long-term commitment rooted in emerging trends.”
Miniso competitor Pop Mart has been riding the “kidult economy” trend with a number of best-selling collectible toys and other pop culture phenomena, including the viral character Labubu, which took over everything from handbags to runways this year.
Advertisement
For its part, Miniso has previously been more focused on store expansion and IP collaborations with well-known third-party brands such as Barbie and Care Bears.
Miniso’s Third-Party-IP Stores Spreading Throughout China
In 2024, when the brand opened its flagship at the American Dream mall in New Jersey, the company’s PR Director Chang Chen shared Miniso’s ambition to become the “IP collection brand,” focused on what he called “interest-based consumption,” where popular brands and characters become a vehicle to create an emotional connection with shoppers. Now Miniso is clearly hoping to replicate the success of retailers like Pop Mart by setting some of its own original IP alongside other popular brands it carries, like Sanrio’s Hello Kitty and Peanuts.
Miniso is already experiencing significant success with its stores focusing on third-party IP. The company is marking the first anniversary of its Miniso Land global flagship store in Shanghai, where IP product sales accounted for 83% of all sales during a record-setting August 2025. The Miniso Land store format combines IP-driven content (assortments include 70% to 80% IP products), immersive IP-themed spaces and experiences encouraging social media interactions. Miniso has expanded the footprint to other major Chinese cities, including Beijing, Guangzhou and Chongqing.
In fact, Miniso has been on an aggressive expansion path both in China and internationally. The retailer’s 200th U.S. store opening in September 2024 was another milestone in the brand’s international growth, which also includes locations across Indonesia and Australia. The brand operates more than 200 traditional flagship stores, with nearly half opening within the past year.
Other formats include Miniso Space, an IP-led store in a luxury mall that uses an “exhibition-experience-retail” flow and exclusive limited-edition products. Super Miniso stores merge IP, floral and greenery, DIY experience and other offerings designed to extend customer dwell time and enhance immersion.
