Pop Mart, a Beijing-based toy company, is seeking broader business expansion in international markets to attract Western customers.

The company has plans to reach a total of between 40 and 50 overseas outlets this year. Including the London store, it already has 18 outlets and business operations in 23 countries outside China. 

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“Pop Mart still insists on expanding its international business and continues to launch its global strategic placement,” Wang Ning, Pop Mart’s chairman of board, said in the company’s 2021 annual report. “In 2021, our overseas revenue reached Rmb100m ($14.9m). In 2022, we will accelerate our overseas expansion to export the pop toy culture.” 

The company has long had its eyes on global markets, launching its first international operation in Korea in 2020. 

Pop Mart opened a new store in New Zealand on April 27 2022 — its first in Oceania region — after launching its first European store in London in January.

“In the long term, we will exceed 50% [overseas revenue],” Justin Moon, Pop Mart’s vice-president in charge of international business, told the Financial Times on May 4. 

Pop Mart recorded Rmb4.49bn in revenue for 2021, up from Rmb2.51bn in 2020. Revenue from outside of mainland China also almost doubled between 2020 and 2021, from Rmb74m to Rmb137.3m.

The company follows in the footsteps of other Chinese consumer goods and electronics with brick and mortar stores overseas. Lifestyle products producer Miniso leads the pack, followed by other major Chinese brands like drone company DJI or white goods producer Haier.