Latest news with #TOPTOY
Borneo Post
6 days ago
- Entertainment
- Borneo Post
New image of 'Made-in-China' captures hearts around the world
Toys themed on Labubu, a popular furry doll from Chinese toy company Pop Mart, are pictured during the opening ceremony of a new offline store of Pop Mart in Bangkok, Thailand, July 5, 2024. (Xinhua/Sun Weitong) BEIJING (June 16): Labubu — a toothy, fluffy figure toy from Chinese brand Pop Mart — has sparked a global frenzy, demonstrating how the country's enterprises are reshaping their international image through innovation, cultural storytelling and the globalization of homegrown intellectual property (IP). China has long been the world's largest producer and exporter of toys. Historically, much of this output consisted of low-cost goods manufactured for foreign brands. Today, however, a new generation of collectible designer toys such as Labubu is redefining the industry by exporting not only products but also stories and sentiment. Pop Mart, the Beijing-based toymaker behind Labubu and other original-IP characters, is among those leading the shift. Propelled by international hype, the company registered year-on-year revenue growth of 165 to 170 percent in the first quarter of 2025, with overseas revenues soaring 475 to 480 percent. Pop Mart is not alone in stepping up brand-building efforts in the global toy market. Chinese toymaker TOP TOY now operates over 280 stores worldwide, and 52TOYS reported a 300 percent increase in its business in Thailand in 2024. The viral popularity of Labubu and similar toys has spotlighted China's burgeoning cultural industry, which is emerging as a calling card for Chinese exports. China's cultural industry sustained steady growth in 2024, with 78,000 surveyed enterprises generating 14.15 trillion yuan (about 1.97 trillion U.S. dollars) in revenues, up 6 percent year on year. These firms reported combined profits of 1.29 trillion yuan — a 10.8 percent increase from 2023. The gaming industry is another striking example of how Chinese culture is reaching global consumers. 'Black Myth: Wukong,' a 3A video game with cutting-edge graphics, has attracted a sizable international following, with one-third of its players based outside China. Meanwhile, established gaming hits like 'Genshin Impact' and 'Honkai: Star Rail' continue to rank among the top downloaded items in over 100 countries and regions. Data from the China Audio-Video and Digital Publishing Association shows that China's self-developed game products reported overseas revenues of 18.56 billion U.S. dollars in 2024, up 13.39 percent from the previous year. China's vast network of factories, spanning every industrial category classified by the United Nations, remains the backbone of this cultural ascent. For Pop Mart, manufacturing excellence is a key part of bringing creative visions to reality. Years of experience have enabled Chinese factories to meet even the most meticulous design requirements, such as crafting a specific component solely to make a doll's eyes glossier and more expressive. 'If you can make toys for Pop Mart, you can make any designer toy in the world,' the owner of a factory that works with Pop Mart once said. The transition from exporting products to exporting brands and IP is a natural result of China's economic evolution, said Lan Qingxin, a professor at the University of International Business and Economics. 'It demonstrates the upgrading of China's industrial structure and the growing maturity of Chinese enterprises in their international operations,' Lan added. – XInhua China entertainment Intellectual property Labubu toys
CNA
06-06-2025
- Business
- CNA
Miniso Group mulls spin-off of its pop toy business
Miniso Group said on Friday it was making a preliminary assessment of a potential spin-off listing of its pop toy business operating under the brand, "TOP TOY". The plan is preliminary, with no assurance of the timing, listing venue or other details, the lifestyle products retailer said in a statement. Miniso has hired JPMorgan Chase & Co. and UBS Group AG for a planned initial public offering of the unit, TOP TOY, in Hong Kong, Bloomberg reported on Wednesday, citing sources. The TOP TOY brand saw a 58.9 per cent rise in its March quarter revenue and an increase of 120 net new stores from a year before.
Reuters
06-06-2025
- Business
- Reuters
Miniso Group mulls spin-off of its pop toy business
June 6 (Reuters) - Miniso Group ( opens new tab said on Friday it was making a preliminary assessment of a potential spin-off listing of its pop toy business operating under the brand, "TOP TOY". The plan is preliminary, with no assurance of the timing, listing venue or other details, the lifestyle products retailer said in a statement. Miniso has hired JPMorgan Chase & Co. and UBS Group AG for a planned initial public offering of the unit, TOP TOY, in Hong Kong, Bloomberg reported on Wednesday, citing sources. The TOP TOY brand saw a 58.9% rise in its March quarter revenue, opens new tab and an increase of 120 net new stores from a year before.
Yahoo
26-05-2025
- Business
- Yahoo
Miniso achieves 18.9% revenue surge in March quarter 2025
Chinese lifestyle products retailer Miniso has reported revenue of 4.43bn yuan ($610.1m) in the March quarter of 2025, increasing 18.9% compared to the same period in the previous year. The company has credited the rise mainly to a 16.5% growth in the average number of stores year-over-year. During this quarter, revenue from the Miniso brand itself rose by 16.5%, bolstered by a 9.1% rise within mainland China and a significant 30.3% surge in international markets. Additionally, revenue from the TOP TOY brand soared by 58.9% to 339.9m yuan, largely due to an expansion in store count. Miniso founder, chairman and CEO Guofu Ye said: "We delivered a solid March Quarter to kick off 2025 and are pleased to see our revenue grow by 18.9% year over year. Our revenue growth was mainly attributable to a 9.1% revenue growth in MINISO mainland China, an acceleration from September and December quarter last year, powered by a solid recovery in same-store sales. Through our steady progress in product mix optimization and strategical store network refinement, we are confident in achieving sustainable and high-quality growth.' Despite these increases, operating profit for the quarter saw a decline to 709.79m yuan from 743.29m yuan recorded during the same timeframe last year. The quarter's gross profit for the group stood at 1.96bn yuan, up by 21.1% from the previous year's figure of 1.62bn yuan. The company's gross margin also improved slightly by 0.8 percentage points to reach 44.2%, driven by strong revenue of Miniso brand in overseas markets and gross margin of TOP TOY brand. MINISO CFO Eason Zhang said: "Gross margin for March Quarter reached 44.2%, which was the highest for the past March quarters ever, thanks to our solid performance from overseas markets and TOP TOY.' The group's selling and distribution expenses witnessed a significant jump of 46.7% compared to the previous year, totalling 1.02bn yuan. However, profit of Miniso for the period fell to 416.46m yuan from last year's 585.95m yuan during the same quarter. Its earnings per share on a diluted basis for ordinary shares also decreased to 1.36 yuan for the March quarter, down from 1.88 yuan in the corresponding quarter of the previous year. "Entering into 2025, we are facing an increasingly volatile macroeconomic environment. Yet, with over ten years' experience of globalization, unparalleled scale and diversified footprint, we will stay resilient and agile in order to deliver long-term profitable growth." Guofu Ye added. As of 31 March 2025, Miniso operated of 7,768 stores, including 7,488 Miniso brand 280 TOP TOY brand stores. In September last year, MINISO signed agreements to acquire a 29.4% stake in Chinese retailer Yonghui for 6.3bn yuan. "Miniso achieves 18.9% revenue surge in March quarter 2025" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
24-05-2025
- Business
- Yahoo
MINISO Group Holding Ltd (MNSO) (Q1 2025) Earnings Call Highlights: Record Revenue Growth and ...
Total Revenue: RMB4.43 billion, up 90% year-over-year. MINISO China Revenue: RMB2.49 billion, increased by 9%. MINISO Overseas Revenue: RMB1.59 billion, grew by 30%. TOPTOY Revenue: RMB340 million, up 59%. Gross Margin: 44.2%, increased by nearly 1 percentage point from the previous year. Adjusted EBITDA Margin: 23.4%, up by 7.5 percentage points. Adjusted Net Profit: RMB590 million, with a margin of 30.3%. Domestic Same-Store Sales: Declined by mid-single-digit, but improvement trend noted. Overseas Same-Store Sales: Solid growth on a two-year compound rate despite base pressure. New Store Openings: 95 new overseas locations added in Q1. Store Closures: Focus on closing underperforming stores and opening larger, more efficient ones. Dividend and Share Repurchase: RMB740 million in dividends paid; RMB260 million in share repurchases completed. Warning! GuruFocus has detected 1 Warning Sign with MNSO. Release Date: May 23, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. MINISO Group Holding Ltd (NYSE:MNSO) reported a significant revenue growth of 90% year-over-year, reaching RMB4.43 billion, exceeding expectations. The company's domestic same-store sales showed a marked improvement, shifting from negative to positive performance, particularly during holiday periods. MINISO's overseas revenue grew by 30%, surpassing the upper limit of their guidance, indicating strong international market performance. The company has successfully implemented a strategy of opening larger, better-performing stores, with new stores achieving 27% higher average efficiency compared to the previous year. MINISO's IP strategy has been effective, with successful product launches like the ChiiKawa Lunar New Year collection and Stitch collections, enhancing market response and sales performance. Despite improvements, domestic same-store sales still faced a mid-single-digit decline, indicating ongoing challenges in the Chinese market. The company's operating profit margin declined due to changes in revenue structure, with a higher proportion of lower-margin direct-operated business. Selling and administrative expenses increased by 45%, with a significant rise in sales expenses, impacting overall profitability. The US market faces challenges with tariff fluctuations, requiring adjustments in supply chain strategies to mitigate potential impacts. Financial expenses increased due to convertible bonds and bank loans, affecting net profit margins and resulting in a higher effective tax rate. Q: Could you elaborate on the recent same-store improvements in MINISO's domestic China business? Is this due to changes in store format or metrics in different tiered cities? A: The same-store performance in China showed a mid-single-digit decline in Q1, a significant improvement from previous quarters. This improvement is attributed to strategic measures, including regional-specific plans and enhanced store metrics. The value per order remained stable, but physical store traffic showed a low single-digit decline. However, starting from Q2, both value per order and traffic have improved, especially in Tier 1 and Tier 2 cities in Eastern and Southern China. Q: What strategies does MINISO have for the US market, considering the fluctuating tariffs and supply chain adjustments? A: MINISO has prepared for tariff fluctuations by building up inventory in the US to support sales during peak seasons. The company is also adjusting its supply chain to reduce dependency on China, increasing direct sourcing from the US, which now accounts for 40% of local products. This strategy aims to improve gross profit margins and reduce tariff burdens. Q: How will YH impact MINISO's profit and growth starting from Q2 2025? A: YH will be consolidated into MINISO's performance from Q2 2025. The focus for YH is on reducing financial losses through efficiency improvements and cost reductions. The adjusted stores have shown good performance, with top stores generating significant profits. The future growth will come from enhanced efficiency and management improvements. Q: What is the outlook for same-store performance in MINISO's overseas markets, particularly in the US? A: The overseas same-store performance in Q1 was similar to China, with a strong two-year compound growth rate. Improvements have been seen in markets like Mexico and the US starting from April. The US market is a key focus, with strategies including channel optimization and merchandise improvement to enhance same-store performance. Q: How does MINISO plan to differentiate its IP strategy in a competitive market? A: MINISO plans to continue expanding its IP partnerships and focus on exclusive licensing to enhance its market presence. The company is also developing in-house IPs, which have shown promising sales. MINISO's expertise in IP conversion and a strong supply chain will support its IP business growth. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
