Pop Mart Makes a Miracle: Stock Increases 368%, Reaches International Level with 'Blind Bag'

Pop Mart, the 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

Pop Mart, a Chinese manufacturer and distributor of collectible toys, has become the country's hottest growing company, with its stock value increasing 368% this year, surpassing most members of the MSCI China stock index, the South China Morning Post reported on December 20.

The company also outperformed international rivals such as Walt Disney and Sanrio, Hello Kitty's parent company, in terms of stock growth.

In the third quarter of this year, Pop Mart reported domestic revenue increased by at least 55% compared to the same period last year, while revenue from foreign markets skyrocketed by more than 400%.

"Pop Mart is almost the first domestic Chinese consumer brand that can achieve such great success in the global market.

This boom comes from the way the company attracts consumers with unique products and eye-catching designs, instead of relying on price," said Dustin Wei, an analyst at Morgan Stanley.

Founded in 2010, Pop Mart often sells doll products in blind boxes, meaning that consumers do not know which specific character is inside until they open it. This gives buyers a sense of excitement and suspense when purchasing products from this brand.

The toys typically retail from 69 yuan ($9.50), while larger limited edition pieces can sell for several thousand yuan.

With more than 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 success, Pop Mart faces some major challenges going forward. Analysts warn that while the company is growing strongly, the intellectual property toy market can be fiercely competitive and cyclical.

“The competition in the Chinese market is fierce. When there is an opportunity to make money, everyone rushes in,” said Shuyan Feng, director of investment management at Huatai Asset Management (Hong Kong).

However, with more than 39 million registered members in China and a repurchase rate of up to 43.9%, Pop Mart still shows its ability to maintain strong appeal, especially in its home country.

On TikTok, the hashtag #popmart has been used in more than 667,000 posts. As many as 1.8 million users follow the company's official account on the social network.

“The hunt for the item you want is very addictive,” said one frequent Pop Mart toy shopper. “I hope to visit more Pop Mart stores around the world. So far I have shopped at Pop Mart in Italy, France, England, Korea and Japan.”

With constant development, Pop Mart is on the way to affirm itself as a global brand, at the same time creating a new fever 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