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POP MART: Inadequate Brand Awareness Becomes Core Challenge for Overseas Biz
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POP MART (09992.HK) management stated that it will further scout the commercial value of the Labubu IP through high-quality products and enriched content. For example, a Labubu feature film is currently in the scriptwriting stage and is expected to deepen the emotional connection between consumers and LABUBU. Visitors to POP MART theme park areas can also immerse themselves in the Labubu family and its backstory. In 2H26, POP MART will launch two major new products centered around Labubu. COO Si De conceded that the company's strong growth in overseas business last year was motivated by blockbuster demand for Labubu, which lured humungous traffic. A large number of new users have inadequate understanding of the designer toy industry and the company's other IPs. Meanwhile, many overseas employees joining the company in recent years are only familiar with the Labubu 3.0 phase, with limited accumulation of business experience. As both users and teams have yet to fully mature, performance saw a notable pullback alongside declining traffic, which has become the core challenge currently facing POP MART's overseas operations, in the COO's view. AASTOCKS Financial News |
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