Miniso Group Holding Ltd. has announced a strong increase in revenue for the third quarter, with a growth rate of 19.3% to reach 4.52 billion yuan ($644.5 million). This growth reflects the company's ability to attract consumers looking for affordable home decor, cosmetics, and personal care products in a challenging economic environment.

The company's revenue growth fell slightly short of the average analyst estimate of 20%. However, despite this, Miniso achieved a record high gross margin of 44.9%, indicating improved profitability alongside revenue growth.

Miniso's success can be attributed to its ability to provide consumers with affordable options for home decor, cosmetics, and personal care products. This has allowed the company to thrive in a challenging economic environment.