Miniso has reported a 22.4 per cent increase in first-half revenue as strong growth in Mainland China and overseas markets continued to fuel its global expansion.

Revenue for the six months ended June 30 reached RMB11.5 billion (US$1.69 billion), with second-quarter revenue growing 17 per cent to RMB5.81 billion ($US856.4 million). 

Mainland China was a key growth driver, with revenue rising 26.2 per cent in the first half, its strongest first-half growth rate in three years. North American revenue increased 37 per cent, while collectible toy business Top Toy grew revenue by 32.7 per cent.

The retailer ended the June quarter with 8674 stores globally, an increase of 769 stores year on year. Nearly half of the net-new Miniso stores opened over the past 12 months were located outside mainland China.

During the quarter, Miniso entered Switzerland, extending its footprint to 113 countries and regions, while Top Toy expanded into the US and Taiwan.

Founder, chairman and CEO Guofu Ye said the company would continue investing in proprietary intellectual property and large-format stores.

“We aim to unlock deep brand equity via our IP ecosystem and reshape retail experiences through large-format stores. Guided by long-termism, we balance global expansion with high-quality localisation,” he added. 

Miniso’s membership base in Mainland China grew 31 per cent year on year to approximately 130 million, while its US membership base more than doubled to around 5.8 million.

In June, Miniso launched a HK$2 billion (approximately US$255 million) share repurchase program, months after founder, chairman and CEO Guofu Ye pledged to increase his personal shareholding in the retailer.