Pop Mart's New Sparkle: From Blind Boxes to Jewels
Pop Mart, famed for its 'ugly-cute' Labubu character, has launched its first jewellery store, Popop, in Shanghai. Despite a sluggish economy, the company's vibrant characters have captivated consumers both locally and globally, boosting its market valuation and attracting significant investor attention. Popop offers a range of accessories priced for mass appeal and emotional satisfaction.
Pop Mart, the 'blind box' toymaker celebrated for the 'ugly-cute' allure of its Labubu character, has ventured into the jewellery market with the opening of its first store, Popop, in Shanghai. The new store offers accessories featuring Pop Mart's top-selling characters such as Labubu, Molly, and Skullpanda.
Despite China's protracted property downturn and languid economic climate, Pop Mart's charming and affordable toys continue to enjoy robust demand worldwide. This surge in popularity has significantly bolstered its share price, which has risen over 200% this year. Investor Zhang Ming, who owns Pop Mart stocks valued at 100 million yuan, traveled from Chongqing to assess the new venture and consider increasing his investment.
Popop's prices range from 350 yuan for simpler pieces to 2,699 yuan for ornate necklaces, all adorned with its signature characters. While the traditional Pop Mart stores draw fans with 'blind box' toys starting at 69 yuan, the brand's limited editions have evolved into highly sought-after collectibles, exemplified by a Labubu figure recently auctioned for a record 1.08 million yuan.
(With inputs from agencies.)
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- Pop Mart
- Labubu
- Popop
- jewellery store
- Shanghai
- toys
- Blind Box
- Zhang Ming
- Chinese economy
- collectibles
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