Chinanews client, Beijing, September 29th (Zuo Yukun) Do you still remember the boutique "Oh!" that SHE endorsed in the past few years?
There are many kinds of colorful ornaments and toys and they are not expensive. They may be the "tears of the times" for many generations born in the 80s and 90s.
You should be familiar with the MINISO products all over the street today, right?
But if you were addicted to "Oh yeah" and now love to visit MINISO, then your money may have been earned by one person (Ye Guofu).
From "Oh yeah" to MINISO, his store products not only doubled the price, but also realized the "counterattack" from the ten-yuan store to the listing.
Image source: @名创优品Official Weibo
Stall things! The carcinogen of MINISO's nail polish exceeded the standard by more than 1,400 times
In the past two days, MINISO has firmly occupied several hot search seats because one of its nail polish carcinogens exceeded the standard.
The Shanghai Drug Administration recently issued a spot check quality announcement, showing that MINISO (Guangzhou) Co., Ltd. represented a cosmetic product called "one-step peelable nail polish" that detected chloroform (a carcinogen) The content is as high as 589.449μg/g, which is more than 1,400 times the national standard limit of 0.40μg/g.
Moreover, the company applied for re-inspection, but after the re-inspection by Shenzhen Institute of Drug Inspection, the result was still unqualified.
On the 27th, MINISO issued a statement to the media that the company and its suppliers conducted a third-party re-inspection of the goods involved, and the test results were qualified, but the FDA re-inspection was still unqualified.
The company respects the test results of the Food and Drug Administration, and the nail polishes involved have been removed from the shelves.
On the Taobao platform, the nail polish has been removed.
But this response did not calm the hearts of consumers.
"Let's continue to check other products" "Can it be possible to completely ignore the user's health at a low price?" Voices such as "Continue to check other products" still dominate the mainstream of social networks.
On September 28, the "Procuratorate Daily" published a review article "Thousands of times exceeding the standard, why did the inspection agency not detect it?
According to the report, why the third-party testing agency can't detect such obvious substandard products? The testing process is questionable.
"For substandard products, the responsibility of the manufacturer does not need to be said, but if the "Ten Yuandian" company as a seller transfers the responsibility to the manufacturer, it will not make sense to pretend to be an innocent white lotus."
In fact, this is not the first time that MINISO has such problems.
In August, the administrative penalty decision information published by the Guangdong Provincial Drug Administration showed that the MINISO Yuhou Jasmine Perfume (Sky Garden) product was unqualified, and its production factory Shenzhen Yuehualong Cosmetics Co., Ltd. was punished.
In June, the Shanghai Municipal Market Supervision and Administration Bureau randomly checked the quality of melamine tableware. A "KaKao Friends" single-ear apple bowl that was sold by MINISO was found to have unqualified melamine migration...and so on. Youpin is on the cusp of the storm.
Controversy continues! Upgraded version of foreign faces "Oh!"
10 yuan a celebrity eyebrow pencil; 10 yuan 100ML perfume with the same taste as "Zumalong"; 99.9 yuan "Air pods"... "Only believe in a good life, it has nothing to do with the price", from the name Chuangyoupin’s latest slogan is not difficult to see that "low price" is its most important label.
But the first time I heard the name MINISO, many people might think that this is a foreign company, and it is likely to be Japanese.
The reason is that its logo collided with Uniqlo, and its name and sales style were too similar to Muji.
The logo of MINISO and the logo of Uniqlo.
This is also destined to be polarized in the market from the day MINISO was born.
Some people say that it is "pseudo-Japanese" and the quality is poor; others say that it has simple packaging and good quality and low price.
MINISO’s low-price game has its origins. Its founder, Ye Guofu, was also the founder of the retail chain brand "Oh!"
"Oh yeah" is the low-price model adopted, so that young girls, a group with consumer desire but not strong consumption power, can buy without pressure, so the business is very hot.
The former "Oh yeah" has become the tears of the times, but in 2013, a stronger MINISO was born.
According to Tianyan Check, the former name of MINISO Premium Co., Ltd. ("MINISO Premium") was Oya Ya Jewelry Chain Co., Ltd. ("Aiya Ya"), and the major shareholder and ultimate beneficiary was Ye Guofu. Its shareholding ratio is as high as 90%.
Screenshot from Tianyan Check.
The advanced version of MINISO no longer focuses on the single group of women, but expands the crowd to the whole people.
The products are more abundant, and no longer stick to fixed prices, everything from 5 yuan to more than one hundred yuan.
The location is also to go to places with high passenger flow, and it is possible to drive on the first floor instead of the second floor. It has almost become standard for shops and shopping malls.
According to data from Frost & Sullivan Consulting, MINISO created a gross turnover (GMV) of US$2.7 billion (approximately RMB 19 billion) in 2019, making it the world's largest private-label integrated retailer .
E-commerce VS entity! Ai and Ma Yun confronted the "Ye Da Pao"
In fact, when it comes to the decline of the predecessor of MINISO-"Oh, Yah", we have to mention the e-commerce trend led by Jack Ma Taobao, which made Ye Guofu, who had been worry-free, instantly photographed on the beach.
Perhaps it is precisely because of this Liangzi that Ye Guofu, known as the "Ye Da Pao", made a comeback and seemed to be "addicted" in "Ma Yun".
Ma Yun said Taobao, Ye Guofu said, "Ma Yun is very powerful and destructive. The copycats are from a certain treasure."
Ma Yun said about consumer trends, and Ye Guofu said that “e-commerce companies represented by Jack Ma deceive people and scare offline bosses.”
Ma Yun said about new retail, and Ye Guofu said, "Ma Yun is helping himself to grow business. New retail is a huge pit."
Ma Yun said to let Alibaba live for 102 years, and Ye Guofu said, "For those who only talk about a century-old brand in export, they have immature ideas."
When Ma Yun acquired RT-Mart, Ye Guofu said, "I think Ma Yun regrets it very much. Da Run has found that it is no longer worthwhile."
There are a lot of people who attack Ma Yun, but this is the only one who is arrogant and "specific" like Ye Guofu.
In addition to lip service, Ye Guofu is also willing to "pay for hatred."
Remember Wang Jianlin and Ma Yun's "100 million bet"?
In 2012, the two agreed that if e-commerce accounts for 50% of China's retail market share in 10 years, Wang Jianlin will give Ma Yun 100 million. If it does not arrive, Ma Yun will return Wang Jianlin 100 million.
Obviously it is a two-person movie, but a mysterious rich man named "Guangzhou Afu" has to leave his name.
In 2012 and 2016, he twice covered the front page headlines of several newspapers to shout in the air, not only made Jack Ma proactively admit defeat, but also claimed that he was willing to help him pay 100 million gambling funds.
This "Guangzhou Afu" is Ye Guofu.
Blind boxes sold by MINISO.
Photo by Zuo Yukun
In order to support offline retail, Ye Guofu, who has joined forces with Jack Ma, firmly believes that it is impossible for offline retail to lose to e-commerce, and even "online + offline" new retail is bound to be inseparable from physical entities.
Despite the controversy, Ye Guofu led the famous brand to the Nasdaq Stock Exchange.
Go to the US for listing! Can the "biggest ten yuan store" break through?
On September 24, MINISO formally submitted a prospectus to the US Securities and Exchange Commission with the stock code "MNSO", and plans to list on the New York Stock Exchange and raise US$100 million.
The prospectus shows that MINISO has opened more than 4,200 stores in more than 80 countries and regions around the world, including more than 2,500 in China, more than 1,680 overseas, and 129 directly-operated stores.
The truth of "world martial arts, only fast but not broken" has been demonstrated here in MINISO.
According to the prospectus, MINISO’s core SKUs (commodity categories) have reached 8,000, with an average of more than 600 SKUs launched every month, covering 11 major categories.
Among these products, 95% have a retail price of less than 50 yuan.
MINISO, which has made its fortune all the way to "snatching hot spots", has not avoided this.
The prospectus mentioned that as of June 30, 2020, MINISO has cooperated with 17 world-renowned IPs including Hello Kitty, Marvel, and Disney to enhance brand value and popularity.
Sanrio co-branded blind box launched by MINISO.
Photo by Zuo Yukun
MINISO emphasizes that the efficiency of product innovation and the ability of large-scale production are one of its long-term "moats".
However, entering the second half of overseas expansion, Ye Guofu, who almost wrote "disdain for e-commerce" on his face, did not escape the "True Fragrance Law".
In 2018, MINISO successively entered Tmall, JD.com and other platforms, and reached cooperation with Ele.me and Meituan, selling happily.
According to industry insiders, products with "decreased prices, increased quality, and low demand elasticity" after the epidemic will have great room for development.
MINISO has seized the opportunity, and with the help of online, after the official listing, it will also have more possibilities.
Do you think this arrogant "ten dollar store miracle" owner can continue to break through?
(Finish)