{"id":12854,"date":"2024-12-23T15:00:00","date_gmt":"2024-12-23T07:00:00","guid":{"rendered":"https:\/\/dollarsandsense.sg\/business\/?p=12854"},"modified":"2024-12-23T15:19:51","modified_gmt":"2024-12-23T07:19:51","slug":"pop-marts-business-unpacked-understanding-the-craze-the-collectibles-its-share-price-surge-of-over-350-in-2024","status":"publish","type":"post","link":"https:\/\/dollarsandsense.sg\/business\/pop-marts-business-unpacked-understanding-the-craze-the-collectibles-its-share-price-surge-of-over-350-in-2024\/","title":{"rendered":"Pop Mart\u2019s Business Unpacked: Understanding The Craze, The Collectibles & Its Share Price Surge Of Over 350% In 2024"},"content":{"rendered":"\n

Every year, new trends emerge that captivate global audiences, generating both excitement and significant financial gains. While the longevity of these trends is often unpredictable, their impact can be profound.<\/p>\n\n\n\n

A prime example this year is the meteoric rise of Labubu dolls, sold by Hong Kong-listed Pop Mart International Group Ltd (HKEX: 9992). These collectibles have captured the public imagination and driven the company\u2019s share price to soar by more than 350% in 2024.<\/p>\n\n\n\n

Labubu, the centerpiece of this craze, originates from a series of Nordic fairytales brought to life by artist Kasing Lung, a Hong Kong native who grew up in the Netherlands. It is part of a broader collection of characters known as The Monsters<\/em>, created by Lung. Among these, Labubu has emerged as the fan favourite, propelling Pop Mart into the spotlight.<\/p>\n\n\n\n

With such remarkable growth in both popularity and stock performance, what should we understand about Pop Mart\u2019s business and the factors behind this phenomenon?<\/p>\n\n\n\n

Read Also: Understanding Labubu Dolls, And Why They Are So Popular (And Expensive)\u00a0<\/a><\/em><\/strong><\/p>\n\n\n\n

Pop Mart Listing In Hong Kong<\/h3>\n\n\n\n

Pop Mart debuted on the Hong Kong Stock Exchange in December 2020, pricing its IPO at the top of the indicated range between HK$31.50 and HK$38.50 per share. The listing marked a significant milestone for the company, which has since seen its business and share price flourish.<\/p>\n\n\n\n

Founded by Chinese toy billionaire Wang Ning, who was just 33 years old at the time of the IPO, Pop Mart has carved out a unique niche in the collectibles market. The company is best known for collaborating with various artists to create its signature \u201cblind box\u201d<\/em> collectibles.<\/p>\n\n\n\n

Blind boxes, highly popular among younger consumers, add an element of surprise and excitement. Buyers cannot see which figurine they are purchasing until the box is opened, creating a sense of anticipation and encouraging repeat purchases to complete collections.<\/p>\n\n\n\n

The Monsters = Core Revenue Growth Driver<\/h3>\n\n\n\n

In the first half of 2024, Pop Mart reported revenue of RMB 4.56 billion (US$628 million), marking an impressive 62% year-on-year growth compared to the same period in 2023. This explosive growth was fueled significantly by the success of its Monsters<\/em> collection, particularly the iconic Labubu.<\/p>\n\n\n\n

The Monsters<\/em> collection alone generated RMB 627 million in revenue during H1 2024, reflecting a staggering 292% year-on-year growth. This meant the series accounted for approximately 14% of Pop Mart\u2019s overall revenue during the period\u2014a testament to its immense popularity.<\/p>\n\n\n\n

Labubu’s appeal received a major boost when Lisa, a global icon and member of K-Pop sensation Blackpink, was spotted with the dolls in April 2024. Following her endorsement, the collectibles\u2019 popularity skyrocketed, sparking a frenzy among fans and collectors alike. This surge in demand has increased sales and led to some controversial incidents, including counterfeit production and theft. In Singapore, three boys were caught tilting a claw machine to steal five Labubu dolls worth over S$300.<\/p>\n\n\n\n

With its unique appeal and celebrity endorsements, Labubu continues to play a pivotal role in Pop Mart\u2019s success story.<\/p>\n\n\n\n

Beyond Labubu: Molly and Pop Mart\u2019s Diverse Revenue Streams<\/h3>\n\n\n\n

While Labubu and The Monsters<\/em> series have captured widespread attention, they are not Pop Mart\u2019s biggest revenue driver. In the first half of 2024, the Molly collectibles contributed approximately RMB 782 million to Pop Mart\u2019s revenue, surpassing Labubu\u2019s earnings and accounting for just over 17% of the company\u2019s overall revenue.<\/p>\n\n\n\n

The Molly<\/em> series, a long-time favourite among collectors, is a collaboration with Hong Kong-based artist Kenny Wong. Its consistent popularity has made it one of Pop Mart\u2019s flagship products and a critical pillar of its success.<\/p>\n\n\n\n

Pop Mart\u2019s business is further bolstered by its in-house Intellectual Property (IP) studio, the Pop Design Center, which delivered exceptional results in H1 2024. By combining its proprietary IP with the work of collaborating artists, the company has developed a multi-faceted portfolio that appeals to a broad and loyal fan base.<\/p>\n\n\n\n

This strategic approach\u2014offering a mix of original and collaborative creations\u2014has enabled Pop Mart to diversify its revenue streams and sustain its position as a leader in the collectibles market.<\/p>\n\n\n\n

Pop Mart\u2019s Global Expansion and Share Price Surge<\/h3>\n\n\n\n

Pop Mart continues to expand its footprint both in its home market of Mainland China and internationally. In the first half of 2024, the company added 20 new stores in Mainland China, bringing its total to 374 stores as of 30 June 2024.<\/p>\n\n\n\n

Outside of Mainland China, Pop Mart\u2019s presence in Hong Kong, Macau, Taiwan, and other international markets grew to 92 stores. Notable openings in 2024 included a store in Century City, Los Angeles, in February, a castle-themed store in Vietnam in May, and a new location on the iconic Oxford Street in London, UK.<\/p>\n\n\n\n

By combining a curated in-store shopping experience with a robust online strategy and temporary pop-up stores, Pop Mart has successfully captured the imagination of consumers seeking the next big trend. This approach has fueled its tremendous success, reflected in its share price, which has surged 363% year-to-date in 2024, trading around HK$92.<\/p>\n\n\n\n

As the year ends, the ongoing Labubu craze remains a key driver of Pop Mart\u2019s appeal. Both investors and collectors will be watching closely to see how much further the company\u2019s popularity\u2014and revenue\u2014can grow in the second half of 2024, with Labubu still wildly sought after in December.<\/p>\n","protected":false},"excerpt":{"rendered":"Sold out.\n","protected":false},"author":1,"featured_media":12855,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[364],"tags":[98,104,2136,2137,2138],"yoast_head":"\nPop Mart\u2019s Business Unpacked: Understanding The Craze, The Collectibles & Its Share Price Surge Of Over 350% In 2024 | DollarsAndSense Business<\/title>\n<meta name=\"description\" content=\"Understanding Pop Mart's business and how the Labubu craze has driven up its share prices over the past 12 months\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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