Meet POP Mart, the Chinese toy giant making waves globally with its cool toys hidden in mystery boxes. Let’s explore how this toy company went from a small shop to becoming a breakout phenomenon loved by millions around the world.
The Early Days:
Back in 2010, Wang Ning started POP Mart as a tiny store in Beijing. At first, they sold all sorts of things, but things really took off when Wang decided to focus only on toys. He got inspired by Japan’s vending machines selling surprise toys in secret boxes.
Innovative Ideas:
To make their toys special, Wang teamed up with artists, like Kenny Wong, who created the famous Molly doll. This move was a game-changer, and soon, POP Mart went from making $22 million in 2017 to a whopping $73 million the next year.
Growing Everywhere:
POP Mart didn’t just stay in China; they went global. In 2020, they made big news by joining the Hong Kong Stock Exchange with a value of $676 million. They smartly opened stores in many countries like the US, New Zealand, Australia, and more, surprising those who doubted they could succeed outside China.
Being Creative Leaders:
What sets POP Mart apart is their teamwork with famous designers like Kenny, Pucky, and Kasing Lung. This not only gained them lots of new fans but also partnerships with big brands, making cool toys based on famous characters that kids love.
Helping Others Grow:
POP Mart isn’t only about selling toys; they want to help new talent. They work with art schools in China to teach about making cool toys. They support designers, factories, shops, and go to toy events worldwide.
Facing Challenges:
Even with all their success, POP Mart has had some problems. In China, they can’t sell mystery boxes to kids under eight anymore. They’re also dealing with similar rules in places like Singapore.
Online Success:
During the pandemic, POP Mart was ready. They sold a lot online through websites like Paqu and Tmall, making a third of their money in 2019. On Singles’ Day, they beat big names like Disney and Lego on AliExpress in toy sales.
What’s Next:
From a small store to a worldwide toy leader, POP Mart’s journey is about creativity, teamwork, and being strong when facing challenges. As they keep making amazing toys in their mystery boxes, one thing is sure — POP Mart isn’t just a toy company; it’s a global hit loved by millions. So, the next time you open a POP Mart box, remember, you’re getting a piece of something really special.
Written by Ilya U
