‘Tremendous growth potential’: MINISO sees fragrances as key to transforming into global ‘super-brand’

To date, MINISO's entire fragrance category, which consists of products such as perfumes, has accumulated global revenue exceeding approximately USD240m.

“We believe that the perfume and fragrance market holds tremendous growth potential,” ​said Robin Liu, vice president and chief marketing officer, MINISO.

The category has primarily been driven by younger consumers, aged 25 to 34.

“Taking the Indonesian market as an example, our target audience for perfume products is local young females. They have a strong inclination for in-store shopping and seek to enjoy visually appealing and pleasantly fragrant perfume products with good value for money,”​ said Liu.

MINISO’s Indonesia focus

In October, the company launched a perfume pop-up in Indonesia, which featured three new collections – the Seaside Series, Ballet Series, and Brilliant Life Series.

Liu told CosmeticsDesign-Asia ​that perfume was the retailer’s top-selling product in Indonesia.

“​Indonesia is one of MINISO's core markets globally, with over 200 stores currently, and we are undergoing rapid growth in the country. There is a significant demand for perfume products in Indonesia. Through the launch of our perfume pop-up store, we intend to communicate MINISO's perfume concept of ‘love yourself’ and ‘make your moment’ in a wonderland-themed store.”​

The company also announced celebrity Prilly Latuconsina as its first perfume ambassador for Indonesia.

“We anticipate that her image will resonate well with our local target demographic, helping us to foster stronger emotional connections with young female consumers in the country,”​ said Liu.

A thriving category

The company's other recent innovations in the fragrance category include the Master’s Aroma Lab collection. Launched in 2022, the collection was developed in partnership with “globally renowned perfumers”,​ Liu said.

This year, it extended the line further with the Master's Floral Fragrance Collection. “Introduced in early 2023, [the collection] has also excelled in terms of sales performance,” ​said Liu.

It has also extended into home fragrances. “In addition to perfumes, our home fragrance category is also a high-quality and well-loved category among consumers. This category encompasses products like scented candles, solid perfumes and more,”​ said Liu.

According to Liu, the firm fragrance developments are influenced by factors such as local culture, local climate, age, as well as pricing.

“In markets such as Indonesia and India, where hot weather is prevalent year-round, we prioritised perfume collections with themes inspired by the ocean, tropical fruits, and botanicals. For example, the Sea Shore collection we prioritised in the Indonesia fragrance pop-up store this time is a seaside-themed collection.”​

In February this year, MINISO announced plans to accelerate its global development during a conference marking the firm’s 10^th​ anniversary in February.

“This year, MINISO has undergone a global strategic upgrade, aiming to transform into a global lifestyle super-brand that brings joy to consumers through more original designs and IP collaborations.​

The fragrance category is one of MINISO’s three top categories aside from plush toys and blind boxes.

Liu told us that these three play a crucial role in MINISO’s brand evolution globally. “They play a crucial role in [MINISO’s] brand upgrade by providing rich emotional value to consumers. This helps build a positive brand image in consumers’ minds.”​