Mini-me

5 July 2019 By Sharon Lam Follow @sharonlamhk

Miniso, brash Chinese rival of the minimalist chain, is considering a listing. The Tencent-backed seller of toys and gadgets cultivates a Japanese feel. The challenge will be to convince investors that its valuation belongs with slick Tokyo peers, not pile-em-high 100-yen shops.

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Chinese budget household and consumer goods retailer Miniso is seeking an initial public offering that could raise around $1 billion, Bloomberg reported on June 25, citing sources. Refinitiv publication IFR reported on June 25, citing people with knowledge of the matter, that Miniso was considering raising $500 million with an IPO. The company has not commented.

Tencent and Hillhouse Capital invested 1 billion yuan ($146 million) in 2018. The company also said it aims to enter 100 countries and regions by 2022, with an annual revenue of 100 billion yuan and 10,000 stores worldwide.

The market for “variety stores” in the Asia Pacific region was worth $38 billion in 2018, according to Euromonitor International.

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