Photo/Dong Xinsheng (NBD)

On April 12th, POP Mart (09992. HK) released its new product “AZURA” spring fantasy series at the China International Consumer Products Expo 2023.

“POP Mart hopes to use this platform of Consumer Expo to export China’s IP and culture overseas and bring different trend experiences to global consumers. During the exhibition, some brands have connected POP Mart.” said Wang Tao, General Manager of Public Affairs of POP Mart to Red Star News.

According to POP Mart, as of the end of 2022, the number of POP Mart overseas stores has reached 43. It is expected that by the end of 2023, the number of overseas stores will reach 80 to 90, and robot stores will be close to 200. Among them, 70% are located in East Asia and Southeast Asia and 30% are located in Europe, America and Australia. “Offline business is still a focus of our development. From sales performance, flagship stores in Korea and first stores in the western United States have achieved monthly sales of around RMB 2 million to RMB 3 million,” said Wang Tao.

Offline business in the domestic market is also in quick recovery, added Wang. 

Since December last year, Bubble Mart’s overall sales have recovered rapidly, with a quarter-on-quarter increase of more than 30% in Q1 2022. Among them, offline channels have recovered faster, with a year-on-year growth rate of more than 70%.

“The consumption recovery is trendy and fashion toy companies have ushered in a new development window. In the future, we will still uphold the concept of ‘respecting time and respecting management’, steadily promote global business development and help the trendy toy industry continue to develop.” Wang Tao said.