Beijing-based Pop Mart finds success after tapping the rising demand for collectible toys from adult customers
During the 2019 Double 11 festival, a shopping occasion created by Tmall, Pop Mart, a Beijing-based lifestyle retailer, topped the revenue in the toy category.
The company said its victory over international leading toymakers did not come from low costs and large quantities, a stereotype of Chinese toymakers.
"We beat them by selling at decent prices and relying on our own brands," said Wang Ning, founder and CEO of Beijing Pop Mart Culture and Creative Co Ltd. "We are not selling copies of popular toys. We won by innovating a completely new toy category."
According to global asset ranking firm Hurun, Pop Mart's capacity in building its own intellectual property supply chain－designing, manufacturing and retailing－has contributed to its sudden surge in the retail and entertainment sector.
An art major, Wang said his vision is to make Pop Mart a company that spreads warmth and happiness, and a company that could become the Chinese equivalent of Disney or Netflix.
"We want to stand for well-known intellectual property. When consumers think of our logo, they feel happy," he said.
Source: China Daily
