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MINISO GROUP HOLDING LIMITED

(MNSO)
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MINISO : Unveils First Self-Service Blind Box Vending Machine in Singapore's Suntec City Mall

07/27/2021 | 04:30am EDT
MINISO Unveils First Self-Service Blind Box Vending Machine in Singapore's Suntec City Mall
2021.07.27

Following the launch of an exciting range of blind box collections earlier this year, on July 23, MINISO, the world's top branded variety retailer, has put its first unmanned self-service blind box vending machine into operation at Suntec City Mall in Singapore, a location selected due to its popularity with Gen Z shoppers and close proximity to Singapore Flyer and the National Library.The new machine allows customers to enjoy contactless shopping for MINISO's blind box collections.

Blind Box Vending Machine in Singapore

'Gen Z is the most influential consumer group out there today, and MINISO is committed to catering to their expectations and delivering experiences that are as distinct as their personality. This generation feels passionate about their hobbies and creates communities anchored in them. As a result, the only brands that will thrive in the future are those that create surprises to attract more consumers from this core demographic. The blind box machine is a bold new way for MINISO to meet the changing needs of consumers and connect with the youth of today through exciting brand experiences tailored to their unique interests,' said Robin Liu, Vice President and Chief Marketing Officer of MINISO.

Nine collections will be sold in MINISO's blind box vending machines, including previous best-selling items from its retail stores. Blind boxes are priced between SGD 9.90 and 14.90, which makes them easily within reach for younger collectors. MINISO has also made contactless shopping easier than ever with the option to pay using card or to scan a QR code and complete the payment via WeChat Pay or Alipay.

According to a report by Frost & Sullivan, Singapore's pop toy retailing market ranks amongst the top three in the world alongside Japan and Korea. Capitalizing on this trend, MINISO already sells its blind box products in 22 stores across major shopping malls in Singapore. The retailer plans to open up a total of five self-service blind box vending machines across Singapore for this launch, with a focus on highly popular shopping destinations without an existing MINISO presence.

Since 2020, MINISO has sold blind box products online and in its stores across Singapore. In May 2021, the company won over the love of an entire generation of fans with five highly anticipated collection drops based on popular IPs, including the nationwide release of the Mickey Mouse, Winnie the Pooh, and RUMI TUTU range. In addition, the retailer launched its own beloved Budding Pop series based on the fan-favorite emoji icon, which sparked a MINISO blind box phenomenon across South-East Asia. MINISO's first self-service blind box vending machine builds upon this momentum, bringing more opportunities for Gen Z shoppers to engage with and delight in MINISO's brand experiences.

A hub for trendy culture, Singapore will also serve as the launchpad for MINISO's blind box machines in the broader region, as it seeks to create new experiences for Gen Z consumers in Asia and beyond.

About MINISO

MINISO (NYSE: MNSO) is a lifestyle product retailer, offering high quality household goods, cosmetics, food, and toys at affordable prices. Since its first store opened in Guangzhou in 2013, MINISO has opened more than 4,587 stores in over 95 countries and regions. With a focus on sleek design and fun trends, its mission is to enable everyone to enjoy life's little surprises.

Disclaimer

MINISO Group Holding Ltd. published this content on 27 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2021 08:29:04 UTC.


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Net income 2022 781 M 121 M 121 M
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P/E ratio 2022 32,3x
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