Miniso Group Holding (MNSO) revenue breakdown
By segment, Chinese Mainland is the largest at 56% of fiscal 2025 revenue; TOP TOY brand grew fastest, 111% a year over 2 years.
By product, Product sales to franchisees is the largest at 47% of fiscal 2024 revenue; Retail sales in self-operated stores grew fastest, 82% a year over 4 years.
Revenue by segment
Fiscal years, as Miniso Group Holding reports them in its 10-K filings; fiscal 2025 total $25.5B.
| Segments | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|
| Chinese Mainland | — | — | — | — | $10.7B | $13.2B | $14.4B | 56% |
| Overseas | — | — | — | — | $2.3B | $6.7B | $8.6B | 34% |
| TOP TOY brand | — | — | — | — | $560M | $997M | $2.5B | 10% |
| Reportable segments | — | $9.1B | $8.8B | $9.9B | — | — | — | — |
| MINISO brand (excluding Africa and Germany) | $9.2B | — | — | — | — | — | — | — |
| NOME brand (discontinued)* | $355M | — | — | — | — | — | — | — |
| MINISO brand in Africa and Germany (discontinued)* | $163M | — | — | — | — | — | — | — |
| Minihome brand (discontinued)* | $31M | — | — | — | — | — | — | — |
Revenue by product
Fiscal years, as Miniso Group Holding reports them in its 10-K filings; fiscal 2024 total $17.0B.
| Products | 2019 | 2020 | 2021 | 2022 | 2024 | Share |
|---|---|---|---|---|---|---|
| Product sales to franchisees | $5.0B | $4.6B | $5.5B | $5.5B | $7.9B | 47% |
| Sales to offline distributors | $3.1B | $2.7B | $1.5B | $2.1B | $3.4B | 20% |
| Retail sales in self-operated stores | $291M | $365M | $324M | $555M | $3.2B | 19% |
| Online sales | $138M | $308M | $663M | $651M | $941M | 6% |
| Others | $318M | $336M | $377M | $403M | $684M | 4% |
| Sales-based management and consultation service fees | $491M | $427M | $488M | $479M | $641M | 4% |
| Sales-based royalties | $94M | $82M | $98M | $97M | $131M | 1% |
| License fees | $27M | $78M | $72M | $109M | $97M | 1% |
| Other sales channels | $11M | $114M | $33M | $220M | $48M | 0% |
Revenue by region
Fiscal years, as Miniso Group Holding reports them in its 10-K filings; fiscal 2025 total $21.4B.
| Regions | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|
| New York Stock Exchange | $6.4B | $6.0B | $7.3B | $7.4B | $7.7B | $10.3B | $12.6B | 59% |
| North America | — | — | — | $391M | $730M | $2.0B | $3.3B | 16% |
| Asia excluding China | $1.7B | $1.4B | $962M | $1.2B | $1.8B | $2.5B | $2.7B | 13% |
| Latin America | — | — | — | $798M | $1.0B | $1.4B | $1.6B | 7% |
| Europe | $125M | $172M | $117M | $175M | $151M | $414M | $704M | 3% |
| Other | $119M | $114M | $117M | $105M | $112M | $295M | $523M | 2% |
| America | $1.0B | $1.2B | $585M | — | — | — | — | — |
Questions
Where does Miniso Group Holding make its money?
In fiscal 2025, by segment: Chinese Mainland $14.4B, Overseas $8.6B, TOP TOY brand $2.5B.
From Miniso Group Holding's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.