MINISO Releases 2024 ESG Report Highlighting its Position as an Industry Leader
MINISO Releases 2024 ESG Report Highlighting its Position as an Industry Leader |
| [30-April-2025] |
GUANGZHOU, China, April 30, 2025 /PRNewswire/ -- Global lifestyle brand MINISO recently released its 2024 ESG (Environment, Society and Governance) Report, which underscores how the brand is contributing to brighter futures across many aspects - from philanthropic contributions to staff welfare and sustainable innovation. Significantly, the report highlights MINISO's performance in the authoritative MSCI ESG and Wind ESG ratings. MINISO has been given an AA rating by MSCI – making MINISO a "leader" in its field and marking the third year of consecutive improvement in its ranking considering factors such as Corporate Behavior, Privacy & Data Security, and Labor Management. Wind, meanwhile, has also awarded MINISO an AA rating for the second consecutive year, ranking first in the diversified retail industry with a leading and practical sustainability strategy.
Ye Guofu, Chairman of the Board and CEO of MINISO, said: "We consistently uphold the highest governance standards and regularly review related initiatives, while integrating ESG principles into every facet of our business and operations to create long-term, sustainable value for society."
Award-winning Employee Welfare Creates a Global Benchmark Workplace Talent is the cornerstone of a company's long-term and stable development. MINISO actively promotes the diversity, fairness and inclusion of its workforce and continuously improves its employee management systems. According to the MSCI rating report, MINISO is at the leading level in the industry in terms of labor management. MINISO has a total of 7,003 full-time employees globally as of December 31, 2024, with 60.8% located overseas. What's more, the localization rate of store managers in directly operated markets such as Vietnam was 100%, and the number of employees from ethnic minority backgrounds in mainland China increased to 77. These figures represent the diversity of MINISO's employee structure. MINISO is also committed to maintaining a family-friendly and harmoniously inclusive workplace atmosphere for all employees, no matter their gender. In mainland China, female employees account for 65%, with 55.9% employee at manager level and above, surpassing the industry average. To ensure employees feel valued and supported, MINISO invests significantly in employee welfare, leading to it winning "2024 Forbes China Best Employer-Most Popular Employer Among Employees" and "2024 DEI Employer Award" in the selection of the best employer brands of major global institutions. Such schemes include creating a RMB10 million budget for employee marriage and childbirth rewards, with nearly RMB2 million already disbursed as of March 2025. MINISO also hosted its inaugural group wedding ceremony, offering a romantic and wonderful experience for its newlywed employees, demonstrating its commitment to contributing to a family-friendly society. MINISO has also granted stock incentives to roughly 500 employees, including Directors, senior management and other employees, while establishing a number of special welfare bonuses such as "Long-Term Commitment Employee Award", "Allowance for Employees in Hardship" and "Store Grievance Special Allowance" to comprehensively enhance employees' sense of happiness and belonging. Spreading Joy to Communities through Diverse Public Welfare Initiatives MINISO is dedicated to sharing its "Joy Philosophy" and empowering global consumers to enjoy happy lives. It therefore attaches great importance to the integration of social responsibility practices into its corporate development. MINISO's public welfare initiatives are primarily focused on five key charitable themes: "children", "women", "critical illnesses", "disasters" and "pets". Among its diverse initiatives, the "MINISO Pet Protection Foundation (the "TA Foundation") is MINISO's core public welfare project. In 2023, MINISO joined hands with Beijing Loving Animal Protection Public Welfare Foundation to donate RMB10 million to establish the fund, and convey the scientific concept of pet protection with professional, caring and symbiotic public welfare concepts and actions. In 2024, the joint MINISO and TA Foundation successfully adopted 380 stray animals and more than 110 retired working dogs into new families, facilitated 388 stray cat sterilizations and donated 2,000 stray cat litters. Through special "Dedicated Zone of Blue for Public Welfare" product areas, which saw an automatic RMB1 donation added, consumers contributed a total of RMB506,992 to the fund.
Other initiatives included "Red Power" which donated sanitary products and educational materials to more than 1,000 students, the "Happy Reading for Children's Dreams" initiative which donated more than 2,000 books and helped build "Yitong Reading Rooms" for left-behind children. MINISO's overseas welfare programs have included distributing materials and food to communities in need in Malaysia, Ecuador, Bolivia, and more. Green Responsibility Sets the Path for a Bright Future In recent years, MINISO has fully integrated the concept of sustainable development into the overall operation of the company, and is committed to promoting a sustainable life through measures such as product innovation, climate change response, and green operations. In terms of product innovation and responsibility, MINISO has developed 26 SKUs of Tritan plastic cups. At the same time, MINISO has replaced disposable plastics with paper-based materials in 37 SKUs, and 29 SKUs have been certified as "Biodegradable" by the Green Alliance. It has also launched green products such as Eco-Friendly PEN PEN plush toys certified by the Global Recycling Standard (GRS). In terms of green packaging, MINISO has carried out carton recycling in stores across China, with a recycling rate of more than 90%. To cope with the challenges brought by global climate change, MINISO selected SP1 and SSP5, two future scenario models, for the first time based on the shared socio-economic pathways (SSPs) hypothesis adopted by the Intergovernmental Panel on Climate Change (IPCC) of the United Nations for climate change scenario analysis. This allows MINISO to enhance its ability to identify, assess and manage climate-related risks and opportunities. In the future, MINISO aims to create more green products in categories including beauty tools, home decor, stationery, and toys, and choose Forest Stewardship Council (FSC) certified suppliers wherever possible. It will continue to develop "MINISO ECO", which will be widely used in more of its Eco-Friendly products.
To view the full MINISO 2024 ESG report, click the link here About MINISO MINISO Group is a global lifestyle brand offering a variety of design-led lifestyle products. The Company serves consumers primarily through its large network of MINISO stores, and promotes a relaxing, treasure-hunting and engaging shopping experience full of delightful surprises that appeals to all demographics. Aesthetically pleasing design, quality and affordability are at the core of every product in MINISO's wide product portfolio, and the Company continually and frequently rolls out products with these qualities. Since the opening of its first store in China in 2013, the Company has built its flagship brand "MINISO" as a globally recognized retail brand and established a massive store network worldwide.
SOURCE MINISO | ||
Company Codes: NYSE:MNSO |
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