Yes - at least the one I returned (I put it outside 3 days straight for a couple hours and it didn’t fade at all). The replacement I received a couple days ago has been out and about in different parts of my house and just when I think it’s starting to fade, my husband says “nope, it still stinks”.I have the card holder similar in size to your mini, and despite being so tiny it still has a very strong stench after 6 months. I don’t use it regularly though and store it in the dustbag/box when not on rotation, so that may contribute to the smell not really fading.
Have you tried letting it air out in an area with good circulation to see if the smell fades at all?