Pop Mart, a Chinese collectible toy company, has become a global phenomenon with an impressive 368% stock growth in 2024.
Pop Mart is said to be gradually becoming a global brand - Photo: AFP
The South China Morning Post reported on December 20th that Pop Mart, a Chinese company specializing in the production and distribution of collectible toys, has become the country's fastest-growing enterprise, with its stock value increasing by 368% this year, surpassing most members of the MSCI China stock index.
The company also surpassed international rivals such as Walt Disney and Sanrio, the parent company of Hello Kitty, in terms of stock growth.
In the third quarter of this year, Pop Mart reported a domestic sales increase of at least 55% compared to the same period last year, while sales from overseas markets surged by more than 400%.
"Pop Mart is arguably the first domestic Chinese consumer brand to achieve such great success in the global market."
"This boom stems from the way the company attracts consumers with unique products and eye-catching designs, rather than relying on price," said Dustin Wei, an analyst at Morgan Stanley.
Founded in 2010, Pop Mart typically sells dolls in blind boxes, meaning consumers don't know which specific character is inside until they open the box. This creates a sense of excitement and suspense for buyers.
The toys typically retail for around 69 yuan (US$9.50), while larger, limited-edition items can fetch several thousand yuan.
With over 92 physical stores and more than 160 vending machines in countries around the world as of June, Pop Mart expects global sales to account for half of the company's total revenue by 2025 as it expands into North American and European markets.
Despite its significant success, Pop Mart faces many major challenges in the future. Analysts warn that although the company is thriving, the market for intellectual property-based toys can be highly competitive and is a cyclical industry.
"The competition in the Chinese market is fierce. When there's an opportunity to make money, everyone rushes in," said Shuyan Feng, director of investment management at Huatai Asset Management (Hong Kong).
However, with over 39 million registered customers in China and a repurchase rate of 43.9%, Pop Mart still demonstrates its ability to maintain strong appeal, especially in its home country.
On TikTok, the hashtag #popmart has been used in over 667,000 posts. The company's official account on this social media platform has 1.8 million followers.
"The thrill of hunting for the item you want is incredibly addictive," shared a frequent Pop Mart toy shopper. "I hope to visit many more Pop Mart stores around the world. So far, I've shopped at Pop Mart in Italy, France, the UK, South Korea, and Japan."
With its continuous growth, Pop Mart is on its way to establishing itself as a global brand, while simultaneously creating a new craze in the toy industry.
Source: https://tuoitre.vn/pop-mart-lap-ky-tich-co-phieu-tang-368-vuon-tam-quoc-te-voi-tui-mu-20241221115318913.htm
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