Is MNSO a good stock to buy? We came across a bullish thesis on MINISO Group Holding Limited on Grillo Insights’s Substack by Eric García. In this article, we will summarize the bulls’ thesis on MNSO. MINISO Group Holding Limited’s share was trading at $16.38 as of March 23rd. MNSO’s trailing P/E was 16.08 according to Yahoo Finance.
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MINISO (MNSO) is a global lifestyle retail chain specializing in affordable design products, collectibles such as blind boxes, plushies, accessories, and fragrances, operating through flagship and super stores that offer immersive customer experiences. The company follows a capital-light, franchise-based model, which has enabled rapid expansion without heavy balance sheet strain. MINISO sits at the center of a collectibles-driven retail boom targeting Gen Z and families, with international markets driving growth.
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Foreign operations now account for 39.4% of total revenue and posted 41.9% year-over-year growth, significantly outpacing the 10.9% growth in China. The company added over 1,200 new stores in 2024 and plans an accelerated expansion through 2025–2026, signaling strong momentum in its global footprint. Operational metrics underscore this growth: MINISO sells more than 15,000 blind box units weekly, physical store footfall increased 63% YoY, and eCommerce revenue surged 500% YoY.
Larger stores, averaging 1,780 square feet, enhance the customer experience, improve sales per unit, and allow diversification into food & beverage offerings and intellectual property partnerships with brands like Disney and Sanrio.
At a current price of $18 the company remains an attractive entry point, with a 2026 price target of $27.17 implying attractive upside of approximately 45% if its international expansion continues and flagship store unit economics remain positive. While considered the most speculative pick in its cohort, MINISO captures a clear consumption trend, offering a compelling growth story built on global expansion, operational excellence, and strong brand engagement.
Previously, we covered a bullish thesis on Dollar Tree, Inc. (DLTR) by Acid Investments in March 2025, which highlighted the divestiture of Family Dollar, DLTR’s superior core margins, faster store expansion, and potential valuation re-rating relative to Dollar General. DLTR’s stock price has appreciated by approximately 56.43% since our coverage. Eric García shares a similar view but emphasizes MINISO’s rapid international expansion, collectibles-driven growth, strong operational metrics, and global lifestyle retail momentum, offering compelling upside in a distinct consumer segment.
MINISO Group Holding Limited is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held MNSO at the end of the fourth quarter which was 23 in the previous quarter. While we acknowledge the risk and potential of MNSO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MNSO and that has 10,000% upside potential, check out our report about this cheapest AI stock.
Disclosure: None.
