At the China-UK Business Forum recently held in Beijing, Chinese designer toy company POP MART announced that it has selected London as the location for its European headquarters.
In addition, POP MART stated that it plans to open seven new stores in the UK in the future, including locations in Birmingham, Cardiff, and a flagship store on Oxford Street in London. At the same time, the company plans to expand with 20 additional stores across other parts of Europe. In total, POP MART aims to open 27 new stores in Europe, with the related investment expected to create more than 150 jobs in the UK.
In a statement, POP MART Founder and Chief Executive Officer Wang Ning said, “London is at the center of the global creative ecosystem, and we are delighted to establish our European base here.”
According to POP MART’s disclosed results for the third quarter of fiscal year 2025, overall revenue (unaudited) increased by 245%–250% year-on-year compared with the third quarter of 2024. Among this, revenue in the Chinese Mainland rose by 185%–190% year-on-year, while overseas revenue surged by 365%–370% year-on-year. Combined with the data released for the first half of fiscal year 2025, the overseas business has now become the group’s most prominent growth engine, accounting for 40.3% of total revenue. However, the European market currently represents only 3.4% of the group’s overall revenue.
丨Sources: Reuters, Bloomberg
丨Image Credit: Popmart Instagram
丨Editor: LeZhi
