Today, the world's first store of popop, an independent jewelry brand owned by Pop Mart, opened in Shanghai's Ganghui Plaza 66.Wang Ning, founder of Bubble Mart, appeared at the ribbon-cutting ceremony for the first store opening.It is understood thatThe interior decorations of the store cover many popular IPs such as Hirono, MOLLY, SKULL PANDA, Crybaby, LABUBU, Xingrenren, etc. The price range is 319-2699 yuan.
Video footage showed that Wang Ning said at the scene: We have always hoped to expand more possibilities through different categories. Jewelry is a very important category that we have been trying.
Public reports show that POPOP is targeting$50 billion globallyfashion jewelry market, relying on existing70-75%With its female user base and IP brand power, it is expected to gain a larger share in the European and American markets.
It is worth noting that as the star IP of Bubble Mart, the Labubu series product line is diverse and iterates rapidly.The revenue in 2024 will account for 28%, and the fourth generation product will be launched at the end of 2025 or early 2026.
In addition, other IPs such as Molly and Dimoo also performed strongly, and many products were in short supply in the Chinese and American markets. This shows that Bubble Mart is not driven by a single IP, and its diversified IP matrix provides it with a broader space for growth.
However, Bubble Mart doesn’t stop at toys.Its new businesses such as Pop Land (IP theme park) and POPOP (fashion jewelry) are also considered important sources of long-term value increment.
Reports show that the Pop Land Beijing project has achieved profitability, with annualized revenueExpected to be 300-500 millionRMB plans to expand and introduce power amusement facilities in the future. Although the short-term return rate is lower than the main toy business, it is of great significance as a platform for IP incubation and interaction with fans.