As the founder and CEO of MINISO, Ye Guofu accumulated immense mastery in trendy fashion during the period of Chinese economic transformation and seized the opportunity to improve the social quality consumption patterns, bringing a brand new business model in China, which almost monopolized China’s offline flow of customers.
Ye Guofu considered that the statement “the higher the price, the better the quality” is only the excuse for those enterprises finding a way to sell products at a high price. Those “low price with bad quality” products resulted from the profiteering desire are originated from the period of command economy. The time for “good quality with low price” products in China has just begun. In this era, the actual value of a brand should be beneficial to millions of people rather than providing services to the nobility and the rich. These very values and principles have induced the inception of MINISO.