MINISO Group operates a global variety retail business under the MINISO and TOP TOY brands, offering toys, home décor, personal care items, daily necessities, and lifestyle products with frequent product rotation to create a "treasure hunt" shopping experience. The company generates revenue primarily through product sales via a dual-channel model of directly-operated stores and third-party operated stores, with the vast majority of locations run by franchise partners and distributors who pay franchise fees, make inventory purchases, and sometimes provide deposits. The business operates across China and international markets including Asia-Pacific, Europe, North America, and the Middle East, leveraging a capital-light model where partners handle store operations while the company focuses on product design, sourcing from thousands of suppliers, brand promotion through endorsements and social media, and distribution logistics.