Miniso, the Chinese lifestyle retailer, has announced a US$255 million share buyback program as its founder and CEO Ye Guofu seeks to boost his stake in the company, according to Inside Retail Asia.
The buybacks will be funded by surplus cash on the company's balance sheet, Miniso said in a statement. The move is part of a broader strategy to enhance shareholder value and signal confidence in the company's long-term prospects.
Miniso, which operates over 5,000 stores globally, has seen its stock price fluctuate amid broader retail market challenges. The buyback announcement comes as the company continues to expand its presence in international markets, including Southeast Asia.