The story of MINISO, from Jack Ye’s founding vision to its worldwide growth, and its success in Bangladesh explored in conversation with MINISO Bangladesh leaders, Shah Rayeed Chowdhury and Jason Yan.
MINISO Group Holding Limited (NYSE: MNSO; HKEX: 9896), founded in 2013 by Chinese entrepreneur Mr. Guofu Ye, known internationally as Jack Ye, is a global value brand offering a wide range of trendy lifestyle products featuring intellectual property (IP) design. The idea for MINISO came to Mr. Ye during his travels, where he observed that consumers across nations desired aesthetically pleasing, high-quality products. However, these were often priced too high and therefore remained out of reach for a large segment of everyday shoppers. MINISO was founded to bridge this gap.
Photograph: Courtesy of MINISO
From his insights into the global retail industry, Mr. Ye identified the key factor that would make MINISO globally competitive and influential: interest-driven consumption. He believed that meeting consumers’ desires for emotional fulfilment and self-expression would be central to the brand’s growth. Guided by this vision, he led MINISO to new frontiers, eventually positioning it as one of the pioneers of a concept in retail business called Global IP Collection Store.
To date, MINISO has partnered with over 150 world-renowned IPs, including Harry Potter, Disney, Sanrio, and Barbie. Integrating these popular IPs into its products, store designs, and marketing has been a strategic move that strengthened the brand’s connection with consumers. This approach ties directly into the interest-driven consumption model and remains a major reason behind MINISO’s strong value proposition worldwide.
Building on this global momentum, MINISO has established a significant presence in Bangladesh. Jack Ye is particularly excited about this chapter of the brand’s journey, stating, “Bangladesh is a very promising market for MINISO as even in challenging times during the global pandemic or political uprising, the market continued to grow rapidly and sales have increased year on year.” The brand has gained widespread popularity thanks to its vibrant store environments, diverse product offerings, viral marketing campaigns, highly anticipated IP launches, and commitment to affordability. At the same time, MINISO Bangladesh has provided local entrepreneurs with the opportunity to join its franchise network. Franchising has enabled MINISO Bangladesh to achieve nationwide expansion, opening new stores across all major cities and creating avenues for Bangladeshi entrepreneurs to share in the brand’s broader success. At the forefront of MINISO Bangladesh are Shah Rayeed Chowdhury and Jason Yan, who shed light on what has made the brand such a strong performer in the local market and discuss how the franchise model has contributed to its commercial success in the country.
SHAH RAYEED CHOWDHURY (right) is a second-generation entrepreneur and Director of Evince Group, a leading conglomerate in Bangladesh’s textile and garment sector. A graduate with Cum Laude honours in Business Administration from Pace University, USA, Mr. Chowdhury returned to Bangladesh in 2013 and joined Evince Group in 2014. He now oversees the group’s integrated operations across spinning, textiles, garments, and retail, including MINISO Bangladesh.
Photograph by Adnan Rahman
What guiding vision drives MINISO’s global expansion and approach to new markets?
Jason Yan: MINISO operates its global business under its brand slogan “Life is for fun.” Today, MINISO has successfully entered 110 countries and regions and opened more than 7,000 stores around the world, covering the core business districts of world-renowned cities such as New York, Los Angeles, Paris, London, Dubai, Sydney, and Istanbul. MINISO approaches new markets with the purpose of creating joyful and high-quality life experiences for hundreds of millions of consumers around the world.
We first prioritise the introduction of the brand culture and mission of the MINISO headquarters. While taking this as the core, we then adjust the products and store models suitable for the local market, for example, in Bangladesh. Ultimately, based on the best store model, we continuously seek franchisees who share the same path and heart.
What inspired you to introduce MINISO to Bangladesh as a franchise?
Shah Rayeed Chowdhury: Evince Group has long been active in Bangladesh’s retail sector, with the experience and infrastructure to bring global brands into the country. We saw a huge opportunity to expand in this space. Bangladesh is one of the most densely populated countries in the world, with a growing demand for quality, design-led products at accessible prices. Before MINISO, there was a clear gap in the market for an organised retail brand that could offer a wide range of categories, from lifestyle goods to licensed IP collections, all under one roof. MINISO’s global success, combined with its unique product mix and strong brand identity, made it the perfect fit to meet this demand and establish a fresh retail footprint in Bangladesh.
Photograph by Adnan Rahman
When you launched, what were your hopes for MINISO Bangladesh, and has its growth and popularity met your expectations?
Shah Rayeed Chowdhury: When we launched, our goal was to introduce a truly global shopping experience to Bangladesh, one that could redefine customer expectations for variety, design, and quality. We aimed to build not just stores, but a brand people could connect with and trust. MINISO’s growth here has exceeded our expectations. It remains one of the fastest-growing brands in its category worldwide, and Bangladesh has proven to be no exception. Our customers have embraced the concept, particularly the appeal of official IP collaborations and the constantly refreshed product line that keeps the experience exciting.
How do you decide on branding, marketing, and product mix at each outlet to attract customers?
Shah Ryaeed Chowdhury: Our branding, marketing, and product mix strategy blends MINISO Global’s brand standards with local market insights from our retail team. While the core branding remains consistent with global guidelines, our marketing approach is adapted to resonate with Bangladeshi customers, focusing on social media engagement, seasonal promotions, and experiential store events. Product mix is curated based on both global trend data and in-store sales feedback, ensuring each outlet offers the right balance of popular IP products, lifestyle essentials, and seasonal collections. This allows us to maintain global consistency while meeting the specific tastes of our local shoppers.
Jason Yan: Cooperation strategies between MINISO Global and MINISO Bangladesh have also driven growth and deepened customer engagement. MINISO Bangladesh has successfully introduced, for the first time ever in the country, the blind box culture, and the highly cost-effective IP culture in line with the headquarters’ strategy. Strategies like these have enabled local consumers to enjoy the happiness of IP at a very good price. MINISO, both globally and in Bangladesh, have formed a loyal fan base, together creating and enriching the scene of “Life is for Fun.”
Given the communication, support, and training MINISO Global provides its franchisees, how successful has the franchise model been in Bangladesh?
Shah Rayeed Chowdhury: The franchise model has been highly successful here. Out of our 34 stores in Bangladesh, 70% are franchise-operated, which reflects the strong interest and confidence from local partners. MINISO Global offers extensive training, operational guidance, and branding support, ensuring our stores deliver the same high-quality experience as any other MINISO location worldwide. At the same time, our team on the ground leverages deep knowledge of the Bangladeshi retail landscape to adapt and execute effectively. The strong trade and diplomatic ties between Bangladesh and China have also fostered smooth collaboration, making it easier to bring global best practices into the local market. This synergy has helped us expand rapidly and strengthen MINISO’s position as a beloved brand in Bangladesh.
Looking ahead, what is your vision for the future of MINISO?
Jason Yan: We want to keep growing and expanding, keep creating products and store models for the local market in Bangladesh and find like-minded franchisees to come along for the journey. MINISO’s mission is to bring happiness to consumers around the world. For this reason, we are excited and looking forward to exploring more models for creating happiness, such as using 3D printing to reflect the real presence of IP, providing companion dolls through Artificial Intelligence, and exploring several new avenues using newly emerging innovations and technology. Of course, what we are most looking forward to is providing more happiness for all demographics.
