MAPIC Retail Interview : Pop Mart
From struggling Beijing variety store to ambitions for global growth, Pop Mart has been on quite the journey over the past 15 years, riding the collectibles craze. Pop Mart has partnered with global brands but most notably has created its own characters, increasingly using local artists to reflect its locations, plus capitalised on mystery boxes – which it calls ‘blind boxes’ – that contain a mystery collectible.
Pop Mart uses ‘robo store’ vending units as a way to test mall locations, to expand its brand presence quickly or if it needs to wait for store space at a shopping centre. Stores globally are typically 100-200 sq m with a small number of larger flagships of between 3,000-5,000 sq m.
MAPIC: Tell us a little about Pop Mart
Larry Lu: The company started life as a variety store in Beijing in 2010, founded by college student Wang Ning. The business received investment from angel investor Mai Gang and in 2015 he pivoted from general merchandise to designer toys and first signed exclusive rights for Molly a big, blue-eyed girl with a distinctive pout, designed and created by Hong Kong artist Kenny Wong.
Larry Lu, Head of Pop Mart North America and Head of Strategy Development Pop Mart Group
MAPIC: What are your current plans?
Larry Lu: We have approaching 500 stores globally and more than 2,300 ‘robo-shops’, plus a theme park called Pop Land in Beijing, and we have announced plans for a new animation studio and launched a youth contemporary art institution, Inner Flow Gallery, in Beijing’s 798 art district. We opened our first permanent US store at the American Dream mall in September 2023 and now have a presence across 30 countries including the UK, France, Italy and The Netherlands.
POP MART Store inside Westfield Century City
MAPIC: What are your main objectives for expansion?
Larry Lu: We want our overseas markets to represent 50% of total sales and we are already at 20-30%. We want to make the buying process theatrical and something people enjoy, which is why our robo-stores are very different from a typical vending machine and you often see people filming as they make their purchases. They are fun and joyful.
One of the things we hear constantly is how much people enjoy shopping in our stores, because we really try to bring joy to the experience. People have discovered and enjoyed our stores and it’s why the local aesthetic and working with local artists is so important for us as we look to expand. We are very ambitious about how we expect to grow.
