Product Sales To Franchisees was MINISO Group Holding’s largest revenue line in fiscal 2025, bringing in $8.85B of $21.44B (41%).
| Products and services [axis] | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| Product Sales To Franchisees | $5.50B | $5.96B | $7.92B | $8.85B | |||
| - Product Sales To Franchisees | — | — | — | — | |||
| - Sales To Distributors | — | — | — | — | |||
| Sales To Offline Distributors | $2.07B | $2.61B | $3.37B | $3.89B | |||
| - Sales To Offline Distributors | — | — | — | — | |||
| Retail Sales In Self-Operated Stores | $555.23M | $990.05M | $3.16B | $5.41B | |||
| - Retail Sales In Self-Operated Stores | — | — | — | — | |||
| Online Sales | $651.04M | $706.40M | $941.06M | $1.41B | |||
| - Online Sales | — | — | — | — | |||
| Sales-Based Management & Consultation Service Fees | $478.78M | $500.78M | $640.94M | $751.58M | |||
| - Sales-Based Management & Consultation Service Fees | — | — | — | — | |||
| Others | $402.59M | $428.40M | $683.63M | $708.73M | |||
| - Others | — | — | — | — | |||
| -Others | — | — | — | — | |||
| Sales-Based Royalties | $97.45M | $102.09M | $131.40M | $155.19M | |||
| - Sales-Based Royalties | — | — | — | — | |||
| License Fees | $109.17M | $84.71M | $96.84M | $155.12M | |||
| - License Fees | — | — | — | — | |||
| Other Sales Channels | $220.07M | $87.53M | $48.19M | $109.19M | |||
| - Other Sales Channels | — | — | — | — | |||
| Total | $10.09B | $11.47B | $16.99B | $21.44B |
MINISO Group Holding brought in $21.44B from its nine revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 26.2% from $16.99B in fiscal 2024. Product Sales To Franchisees was the largest at $8.85B (41.3%), ahead of Retail Sales In Self-Operated Stores at $5.41B (25.2%) and Sales To Offline Distributors at $3.89B (18.1%). The other six revenue lines brought in $3.29B combined.
Compared with fiscal 2024, Retail Sales In Self-Operated Stores grew fastest, up 71.3% to $5.41B. Every revenue line above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these revenue lines grew from $10.09B to $21.44B, a compound annual growth rate of 28.6%. Product Sales To Franchisees' share of the total fell from 54.5% to 41.3%.
Chinese Mainland was MINISO Group Holding’s largest segment in fiscal 2025, bringing in $14.41B of $21.44B (67%).
| Segments [axis] | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| Chinese Mainland | — | $10.73B | $13.20B | $14.41B | |||
| Miniso Brand | $9.47B | — | — | — | |||
| Miniso Brand (Excluding Africa & Germany) | — | — | — | — | |||
| Overseas | — | $2.30B | $6.68B | $8.64B | |||
| Top Toy Brand | $447.43M | $560.24M | $997.38M | $2.50B | |||
| Unallocated Amount | — | $358.64M | $579.43M | $653.67M | |||
| Other Segment | $385.18M | — | — | — | |||
| Nome Brand (Discontinued)* | — | — | — | — | |||
| Miniso Brand In Africa & Germany (Discontinued)* | — | — | — | — | |||
| Minihome Brand (Discontinued)* | — | — | — | — | |||
| Elimination Of Discontinued Operations | — | — | — | — | |||
| Discontinued Operations | — | — | — | — | |||
| Elimination Of Inter-Segment Revenue | -$216.58M | -$2.48B | -$4.46B | -$4.75B | |||
| Inter-Segment Revenue | — | — | — | — | |||
| Total | $10.09B | $11.47B | $16.99B | $21.44B |
MINISO Group Holding brought in $21.44B from its five segments in fiscal 2025, the year ended December 31, 2025. That was up 26.2% from $16.99B in fiscal 2024. Chinese Mainland was the largest at $14.41B (67.2%), ahead of Overseas at $8.64B (40.3%) and Top Toy Brand at $2.50B (11.6%). The remaining segment, Unallocated Amount, brought in $653.67M.
Compared with fiscal 2024, Top Toy Brand grew fastest, up 150.2% to $2.50B. Every segment above 2% of revenue grew.
MINISO Group Holding began breaking out Chinese Mainland in fiscal 2023, Overseas in fiscal 2023 and Unallocated Amount in fiscal 2023. MINISO Group Holding stopped reporting Miniso Brand ($9.47B in fiscal 2022) and Other Segment ($385.18M in fiscal 2022) as separate segments. The total is net of Elimination Of Inter-Segment Revenue, which took $4.75B off revenue in fiscal 2025.
New York Stock Exchange was MINISO Group Holding’s largest region in fiscal 2025, bringing in $12.58B of $21.44B (59%).
| Geography | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| New York Stock Exchange | $7.44B | $7.65B | $10.31B | $12.58B | |||
| The Prc | — | — | — | — | |||
| Asia Excluding China | $1.17B | $1.82B | $2.54B | $2.74B | |||
| Other Asian Countries Excluding The Prc | — | — | — | — | |||
| North America | $391.02M | $729.70M | $1.99B | $3.34B | |||
| Latin America | $798.10M | $1.01B | $1.45B | $1.56B | |||
| America | — | — | — | — | |||
| Europe | $174.69M | $151.50M | $414.49M | $703.77M | |||
| Other | $105.36M | $111.75M | $294.86M | $523.37M | |||
| Other Countries | — | — | — | — | |||
| Others | — | — | — | — | |||
| Total | $10.09B | $11.47B | $16.99B | $21.44B |
MINISO Group Holding brought in $21.44B from its six regions in fiscal 2025, the year ended December 31, 2025. That was up 26.2% from $16.99B in fiscal 2024. New York Stock Exchange was the largest at $12.58B (58.7%), ahead of North America at $3.34B (15.6%) and Asia Excluding China at $2.74B (12.8%). The other three regions brought in $2.79B combined.
Compared with fiscal 2024, Other grew fastest, up 77.5% to $523.37M. Every region above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these regions grew from $10.09B to $21.44B, a compound annual growth rate of 28.6%. New York Stock Exchange's share of the total fell from 73.8% to 58.7%.
MINISO Group Holding (MNSO) reports its revenue by products and services [axis], by segments [axis] and by geography. In fiscal 2025, Product Sales To Franchisees was its largest revenue line, bringing in $8.85B (41.3% of the total), followed by Retail Sales In Self-Operated Stores at $5.41B (25.2%).
Product Sales To Franchisees was MINISO Group Holding's largest revenue line in fiscal 2025, bringing in $8.85B, or 41.3% of the $21.44B total across its nine revenue lines.
Chinese Mainland was MINISO Group Holding's largest segment in fiscal 2025, bringing in $14.41B, or 67.2% of the $21.44B total across its five segments.
New York Stock Exchange was MINISO Group Holding's largest region in fiscal 2025, bringing in $12.58B, or 58.7% of the $21.44B total across its six regions.
Among MINISO Group Holding's revenue lines that make up at least 2% of revenue, Retail Sales In Self-Operated Stores grew fastest in fiscal 2025, up 71.3% from $3.16B to $5.41B.
Every figure comes from MINISO Group Holding's annual financial filings, as reported. Each line keeps the name MINISO Group Holding gives it, and years follow its fiscal calendar.
MINISO Group Holding's revenue by products and services [axis] goes back to fiscal 2019, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.