MINISO (MNSO) Acquires Yonghui Superstores for Strategic Retail Transformation

Dec 02, 2024

MINISO Group's founder and CEO, Guofu Ye, recently met with Donglai Yu, founder of Pangdonglai, marking their first meeting since MINISO's 6.3 billion yuan acquisition of Yonghui Superstores. This acquisition makes MINISO the largest shareholder of Yonghui, and the meeting focused on strategic upgrades for the supermarket chain.

Both leaders are optimistic about Yonghui's future, highlighting its potential to become a quality community supermarket akin to Costco. Since May, Yonghui has been undergoing store renovations with assistance from Pangdonglai, aiming to enhance customer experience and product quality.

MINISO's acquisition of Yonghui is China's largest and most notable deal this year. Ye emphasized the importance of quality and innovation in retail, aiming to create a family-friendly shopping environment. The company plans to continue dual-track renovations with a goal of upgrading 40 to 50 stores by the Lunar New Year.

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