Tencent-backed Chinese budget retailer Miniso launches Toptoy, a store chain for toys

Tencent-backed Chinese budget retailer Miniso launches Toptoy, a store chain for toys

Miniso Group Holding Ltd., the newly New York-listed Chinese budget retailer, is making its first foray into the $86 billion global toy market as it tries to take on heavyweights like Toys “R” Us Inc. on its home turf and beyond.

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