On the afternoon of October 22, 罗永浩 launched a new episode of his talk show, featuring a dialogue with Ye Guofu, the founder of MINISO Group Holding Limited, discussing trendy consumer products and the story behind the “Fat Modification Store.”

When addressing the online and offline business models, Ye Guofu expressed a stronger affinity for offline retail, stating that MINISO's online sales account for about 10% while 90% come from offline channels. He noted that most retail brands still predominantly rely on offline sales.

He acknowledged the rapid development of e-commerce and its significant impact on the retail industry but insisted on finding a development model that suits each brand. MINISO has found great success through offline retail and does not dismiss online sales, as they are also vigorously expanding their online presence. He pointed out that many online brands are shifting to offline sales, citing Xiaomi as an example. In the beginning, Lei Jun branded it as an internet-focused smartphone, selling exclusively online, but then realized the stronger potential of offline traffic; now Xiaomi has over 10,000 offline stores. Ye believes it is essential to abandon the binary concept of online and offline and return to the essence of the product. At its core, business is about producing quality products. Without good products, a company has nothing; with excellent products, sales will flourish both online and offline.