Pop Mart's overseas revenue surged 375% to 5.07 billion yuan in 2024: The globalization strategy achieved remarkable results
Recently, the trendy toy industry giant Pop MART released its overseas market performance data in 2024, with its overseas revenue soaring 375% year-on-year to 5.07 billion yuan, becoming one of the most eye-catching growth cases in the global trendy toy market. This data not only reflects the success of Pop Mart's globalization strategy, but also provides a new reference sample for Chinese brands to go overseas.
1. Explosive growth of overseas revenue: the driving force behind the 375% increase
Pop Mart's overseas revenue in 2024 jumped from 1.07 billion yuan in 2023 to 5.07 billion yuan, and the growth was mainly due to the following factors:
| years | Overseas revenue (billion yuan) | Year-on-year growth rate |
|---|---|---|
| 2022 | 6.8 | 56% |
| 2023 | 10.7 | 57% |
| 2024 | 50.7 | 375% |
1.Market expansion accelerates: Pop Mart added offline stores in Europe, the Middle East and other regions in 2024, with the total number of stores worldwide exceeding 200, covering more than 30 countries and regions.
2.Increased IP influence: Its core IPs such as Molly and Dimoo have further expanded their international popularity through social media and cross-border collaboration (such as cooperation with Disney and Marvel).
3.Deepening of localized operations: Launched regional limited models for different markets, such as the cherry blossom season series launched in Japan, with sales of more than 100,000 pieces per month.
2. Regional performance: Asian market leads, Europe and the United States are impressive
| area | Revenue in 2024 (billion yuan) | Revenue proportion | Year-on-year growth |
|---|---|---|---|
| Southeast Asia | 18.2 | 36% | 320% |
| Japan and South Korea | 12.5 | 25% | 290% |
| North America | 9.8 | 19% | 410% |
| Europe | 6.3 | 12% | 550% |
| other | 3.9 | 8% | 380% |
3. Industry comparison: Pop Mart leads the trendy toy track
Compared with other brands in the same industry, Pop Mart's overseas revenue scale and growth rate are both leading:
| brand | Overseas revenue in 2024 (billion yuan) | Year-on-year growth | Main markets |
|---|---|---|---|
| Pop Mart | 50.7 | 375% | worldwide |
| 52TOYS | 8.2 | 120% | Southeast Asia |
| TOP TOY | 5.6 | 90% | Asia |
4. Future Outlook: Overseas Target Revenue in 2025 8 billion yuan
Pop Mart CEO Wang Ning said in the earnings call that the company plans to increase overseas revenue to 8 billion yuan by 2025, and specific measures include:
1.Channel sinking: Open more vending machines and small retail stores in second- and third-tier cities in Southeast Asia.
2.IP matrix expansion: Acquisition of 2-3 internationally renowned IPs and launch a new image for the European and American markets.
3.Digital upgrade: The overseas membership system will be connected to blockchain technology to improve the transparency of collectible transactions.
Analysts believe that with the global trendy toy market size expected to exceed US$200 billion in 2025, if Pop Mart can maintain its current growth rate, it is expected to become the first Chinese company to rank among the top ten toy brands in the world.
Conclusion: From Chinese trendy toy representatives to global cultural symbols
Pop Mart's overseas report card is not only a reflection of China's brand's globalization capabilities, but also demonstrates the possibility of the cultural and creative industry achieving high value-added output through IP operations. Its successful experience may provide reference for more consumer brands seeking to go overseas - accurately grasping the aesthetics of Generation Z, building a complete IP ecosystem, and adhering to long-term localized investment are the key to opening up the international market.
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