Miniso Group, a retailer of cheap lifestyle necessities and trending toys, recently acquired a near 30 percent stake in the A-share listed Yonghui Superstores in a move worth 6.3 billion yuan (US$860m). The buyout makes Miniso the biggest shareholder in Yonghui, and is expected to help it expand its marketing channels that had reached more than 6,800 chain stores across the world by June 2024. Established in 2013 in Guangzhou, Guangdong Province, Miniso has grown rapidly by offering cheap but well-designed products provided from streamlined supply chains. However, supermarket chain Yonghui, focused on online retailing and on-site catering, suffered a loss of 8 billion yuan (US$1.1b) between 2021 and 2023 with the rise of rivals such as Dingdong, owned by Shanghai Yibaimi Network Technology, and Alibaba’s Freshippo. Industry insiders believe the acquisition can give a boost to both in the retailing market.
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