Editor’s Note
In this article, founder Wang Ning discusses the company’s strategic expansion into new product categories, highlighting jewelry as a key area of current experimentation. His comments underscore a broader vision to explore diverse market possibilities.
Video footage shows Wang Ning at the scene stating:
Public reports indicate that POPOP is targeting the global $50 billion fashion jewelry market. Leveraging its existing user base, which is 70-75% female, and its IP brand power, it aims to capture a larger market share in Europe and America.
It is worth noting that as POP MART’s star IP, the Labubu series has a diverse product line and rapid iteration. Its revenue share reached 28% in 2024, with the fourth-generation products expected to launch in late 2025 or early 2026. Other IPs like Molly and Dimoo have also shown strong performance, with multiple products experiencing supply shortages in the Chinese and American markets. This demonstrates that POP MART is not driven by a single IP; its diversified IP matrix provides broader growth space.
However, POP MART has not stopped at toys. Its new businesses like Pop Land (IP-themed parks) and POPOP (fashion jewelry) are also considered important sources of long-term value growth. Reports show that the Beijing Pop Land project has already achieved profitability, with annualized revenue estimated at 300-500 million yuan. Future plans include expansion and the introduction of dynamic amusement facilities. Although its short-term return rate is lower than the main toy business, its significance as a platform for IP incubation and fan interaction is substantial.