Introduction: MINISO successfully held the annual meeting in Guangzhou PWTC Expo on January 18, 2019. With the theme of "Chuang Wujing Zhi Weilai" (Creating an Intelligent Retail Future with Infinite Potential), Mr. Ye Guofu, the global co-founder and CEO of MINISO delivered a speech at the annual meeting, summarizing and reviewing the performance of MINISO in 2018.
Mr. Ye Guofu delivered a keynote speech at the meeting to report the performance of MINISO in 2018.
Mr. Ye revealed that MINISO has opened more than 3,500 stores in 79 countries and regions in 2018, with a revenue of RMB 17 billion and more than 30,000 employees worldwide.
In addition to the growth rate, Mr. Ye also talked about the changes to MINISO in the past year. In terms of brand strategy, MINISO has formally formulated and implemented the multi-brand strategy, developing "NOME", "MINISO" and "WonderLife" at the same time so as to satisfy consumers of different levels and increase the brand's market share in terms of household consumption. In terms of company management, the SAP system that MINISO heavily invested in has been officially launched, comprehensively improving the efficiency of logistics, manpower management, capital flow and information flow and providing a strong systematic guarantee for the brand to accelerate global store operations. In terms of new capital, Tencent and Hillhouse Capital invested RMB 1 billion into MINISO, which not only provides strong financial support for the globalization of the brand, but also opens up a broader space for cooperation in intelligent retail, big data, artificial intelligence and other aspects to help the brand complete future upgrades.
Facing the generally pessimistic external view on the economic situation in 2019, Mr. Ye also mentioned that, "the darkest moment of the economic downturn is our opportunity". He emphasized the word "focus", hoping that “the company could focus on life supplies with aesthetic beauty and household categories" in the main business, and employees could "focus on the improvement of professional skills", and use "profit" as the goal to encourage employees' confidence.
Additionally, Mr. Ye also determined the guideline for the company, which is "three values of persistence". These are to persist in the core values of the company - striving to change destiny; persist in the strategic planning - opening 10000 stores in 100 countries with 100 billion sales volume; and persist in the management principles - vertical management.
At the end of the speech, Mr. Ye took the goal of "building the brand into a world-class retail enterprise" as the direction for all employees, and quoted Churchill's famous saying, "a pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty" as a message to encourage the audience.