Pop Mart overseas presence on the rise

Pop Mart, the collectible toy producer based in Beijing, posted a 36.5 percent year-on-year rise in revenue, which recorded 6.3 billion yuan ($958 million), with overseas markets increasing 134.9 percent to 1.06 billion yuan.

Pop Mart posted an adjusted net profit of 1.19 billion yuan, up 107.6 percent year-on-year, according to the company.

In 2023, the company opened 55 new physical stores on the Chinese mainland. The number of physical stores increased from 329 to 363 in a year. They closed 21 stores due to lease expiration and other commercial reasons. Pop Mart opened 123 roboshops last year. The total number of roboshops increased from 2,067 to 2,190 in the period.

The company saw revenue from Pop Draw, a mini program invented and developed by the company on WeChat platform, reaching 729.3 million yuan. Revenue from its Tmall Flagship stores amounted to 322 million yuan.

In 2023, the revenue from DouYin platform amounted to 283.3 million yuan, representing a year-on-year increase of 431.2 percent.

The number of registered members of the company on the Chinese mainland increased from 26 million to 34.4 million.

Its overseas revenue, 16.9 percent of its overall revenue, indicates a bigger presence abroad. The company now operates 80 offline stores and 159 roboshops overseas. Last year Pop Mart opened its first offline stores in markets including France, Malaysia and Thailand.