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POP MART Wang Tao: Independent Accessories Brand POPOP to Open 1st Store; Firm Won't Blindly Pursue Store Expansion
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Wang Tao, General Manager of Public Affairs at POP MART (09992.HK), said in an interview with Chinese media that the global art toy industry is in a fast-growing stage, with the market size growing from US$8.7 billion in 2015 to nearly US$40 billion in 2023, and is estimated to grow to US$64.7 billion in 2028, with a CAGR of 16.94%. Besides plush products, sub-categories such as building blocks and accessories also have great market space. The Group's IP-based building block products achieved good market results, while POPOP, its independent accessories brand, will open its first store subsequently. The Company will not blindly pursue the expansion of the number of stores, rather, it will focus on the continuous improvement of store services and experience, Wang added. Moreover, with the deepening of the fine membership operation of the whole channel, the scale of POP MART's users continued to expand. AAStocks Financial News Website: www.aastocks.com |
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