It’s the wide-eyed phenomenon that’s causing a global stir. And despite some goodies being pulled off the shelves for security reasons, CGTN’s Li Jianhua braved the crowds in London to meet the new models – and their avid collectors.
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NewsTranscript
00:00Early morning in central London, long queues and security.
00:06They're here for Hirono, a collectible featuring a kid with a permanent mischievous look.
00:13Creates by Chinese toy maker Pop Mart, this character is now front and centre at this new pop-up store.
00:21I live in Yorkshire, so a long way, but I managed to get exactly what I wanted.
00:29So I'm really pleased, yeah.
00:31It's a little bit of joy in a world that can sometimes be tough, right?
00:35And you know, when you've got adult money, why not spend adult money on things you want, right?
00:40Even Hirono's creator turned up meeting fans in London for the first time.
00:45As more and more people started to like them, I began to feel a bit of pressure.
00:51At the same time though, I also feel genuinely happy.
00:54It's amazing that so many people like this IP, this character, and that they can see a part of themselves in the things I express through different media.
01:04Apart from Hirono, Pop Mart has rolled out quite a few other characters, including Labubu.
01:11Guys, I've fallen victim to the Labubu trend. They were literally sold out everywhere.
01:16This quirky elf-like figure with a toothy grain has gone from niche to global.
01:21Even pop icon Rihanna has been spotted with one.
01:25This trend has translated into eye-popping growth.
01:28Its revenue in the first quarter of this year jumped as much as 170% year-on-year.
01:35Outside China, sales are booming, especially in the Americas and Europe.
01:41And so, last year we were very fortunate to open up in Milan, in Italy, and in Barcelona, in Spain.
01:48We opened our first offline stores there.
01:51And we will focus across UK, France, Spain, Germany, Italy, Netherlands.
01:57These countries, for sure, you'll see new Pop Mart stores opening in the coming months.
02:02This year, Pop Mart is aiming higher, targeting nearly US$3 billion in revenue, up a million from last year.
02:10Yet the company's strategy of using blind boxes and creating rarity has fueled tensions among fans,
02:17as customers scramble to buy and the scalpers drive up prices too high.
02:23This brand is tapping into the tried-and-tested tactics, scarcity and social media bars,
02:30and promotes them globally by collaborating with the global designers and artists.
02:35Now, as a blind box model is testing just how far China's pop culture can travel,
02:41Li Jianhua CGTM, London.