Wang Ning stated that Pop Mart is celebrating its 15th anniversary this year, making it no longer a particularly young company. At the time of its IPO, the company's total sales were less than 2 billion RMB. After years of development, Pop Mart achieved 13 billion RMB in revenue last year. Wang expressed confidence that sales in North America are highly likely to surpass those in Southeast Asia this year, and the company will continue to expand its overseas markets.
According to Wang, Pop Mart's rapid growth can be attributed to two main factors. Firstly, Pop Mart is an open and inclusive IP platform that collaborates with numerous talented artists and designers. The company then systematically manages these IPs, spreading their cultural essence to the global stage. Secondly, China's inclusive culture, robust manufacturing capabilities, and vast market provide fertile ground for the company to thrive. He emphasized that it is Chinese manufacturing and Chinese culture that have made Pop Mart what it is today.
Wang quoted the phrase "From the world to the world," explaining that it signifies "originating from the world and returning to the world." He expressed that as a new-generation Chinese brand, Pop Mart aims to create products with higher added value and become a world-class consumer brand. The company has two critical advantages in this regard: China's market and China's manufacturing. Wang pointed out that in many other countries, artists often face challenges such as limited markets or underdeveloped manufacturing. In contrast, China's exceptional manufacturing capabilities and strong market can serve as a global platform for artists to incubate their IPs, starting in China and then expanding worldwide.
Regarding the surge in popularity and speculation surrounding the Labubu IP, Wang also responded. He acknowledged that consumer demands are diverse, with some preferring regular products and others pursuing limited editions. Labubu is currently transitioning from a niche market to the mainstream. The company is taking various measures to prevent malicious speculation on this IP. Wang expressed his gratitude that Labubu has gained recognition from people around the world. He added that the exploration of Labubu's story and value has just begun, and he believes the IP will bring even more surprises in the future.
Related News:
Genuine vs counterfeit Labubu: Customs authority shares identification tips
Connecting Dots | Labubu lovers unite! Why is everyone chasing cute chaos?
Comment