KKV was originally run by MR DIY!

Have you ever been to KKV in Bukit Bintang? Listen to the 5 floors inside, over 0.02 million SKUs, and lots of novel, cute, and exquisite little items, which are very nice and fun.

Needless to say, I was shocked by JP Morgan's investigation. It turned out that MR DIY held 49% of KKV Supply Chain Private Limited's shares.

After reading it, I can only think that this wave of market segmentation is amazing. After Mr. DIY kept the B40 basic market, he expanded upstream to the M40 basic market. KKV is the benchmark for MINISO's fine lifestyle market in China.

“Furthermore, we believe that the size of the Malaysian offline non-grocery retail market can reach the size of RM75 billion, which is equivalent to half of the non-grocery retail market. Currently, ordinary retail stores only account for 20% of the fine lifestyle retail market.”
Analysts also believe that the current model can make good use of Mr. DIY's supply chain, geographical network, and operating capacity to achieve growth.
KKV currently has 3 stores in Malaysia. Apart from 1 in Bukit Bintang, the other 2 are in Penang.
According to LinkedIn recruitment, in the second half of 2024, KKV will also gradually expand 6 stores. Among them, 2 new stores will be opened in the Xuelong region, and 1 new each in Penang, Melaka, and Johor.

Analysts looked at KKV by opening 100 stores, each with revenue of RM7 million and owned by MR. The same amount of revenue from DIY can be calculated, which can help Mr. DIY's net profit per share increased 6% in fiscal 2025.
“This can also raise the reasonable price by 7 cents, which is equivalent to still having 6.5% room for growth.”