This summer, Tyrande is going crazy about Bubble Mart.
When China is still asking "what is the fun of a small piece of plastic", Thai tourists have regarded Bubble Mart as a new generation of "Chinese specialty".
The number of blind boxes given to friends when returning to China has become the alchemy stone of friendship, if one is considered to have you in his heart, then one end is the highest etiquette. Nowadays, in order to show their wealth or show their hearts to their friends, young Thais are frantically scanning goods in various stores.
Source: Xiaohongshu @Cecilia
"Yesterday I went shopping at Bubble Mart and thought I was in Thailand. Netizen @crooked mouth edamame mother found that Thai tourists "don't leave a piece of armor" everywhere they go, and even revitalized those series of "eating ash in the corner".
How did Bubble Mart become a "souvenir"?
Last year, Pop Mart had 10 IPs with annual sales of more than 100 million yuan. One of the most popular IPs, Skullpanda, has even turned into a cash cow, bringing in more than 1 billion yuan of real money. is a good trendy toy company, how did you learn the domestic entertainment set and start making stars?
The top stream that makes Thais crazy is called Labubu.
This vinyl plush doll released in October last year, the domestic stores quickly ran out of stock, after the opening of the pre-sale system, young people will not be able to get their "baby" after a few months, and the reappearance of "a baby is hard to find".
Recently, after crossing the ocean to Thailand, his worth has doubled.
First of all, it became the "royal same", and the Thai princess hung this Labubu on her own big-name bag. When netizens were still wondering how rich Bubble Mart is, even a princess can be moved", at the beginning of this month, Thai actress Lisa also used the same style, and posted a video of going to Bubble Mart on ins for 3 consecutive days.
Although it is difficult to tell who Lisa and the princess are imitating whom, it doesn't matter, because this "splashing wealth" is the brain of Bubble Mart. Now this elf from the picture book "Mysterious Buka" has now become a real female top class in Thailand after being blessed by the real top class and the real princess.
Because this Labubu is a plush doll, there is a hook on the head, which is easier to "go out" than the previous PVC toy. So nowadays in Thailand, the number of Labubu on young people's bags is a status symbol. One just understands the trend, if you can hang a series of 6 colors, the owner can also be regarded as a small middle class in Thailand, and use money to buy the happy kind. The way for ordinary girls to approach princesses and female top-class has never been so simple, so the price of this doll has also soared, the original price of 550 baht (about 107 yuan), and now it has been fried to the point that the value has tripled, and the price of 1500 baht (about 300 yuan) at a time has become the entry threshold. "Last year, it was a summer in Tyrande, and this year's Bubble Mart has taught Thai young people what a blind box is. Some netizens joked. It is said that there has long been a Chinese-Thai translation table about the various IPs of Bubble Mart, and under the temptation of the same style of the top stream, Thai tourists are frantically "attacking" Bubble Mart, not only sweeping Labubu away, but also taking away many niche IPs.
So the distance between you and the Thai people, only one Bubble Mart, I heard that in several provinces and major tourist provinces that are relatively close to Thailand, four Thai people have been realized in the store.
When I walked into the largest Bubble Mart in front of my house, I smiled when I saw the Thai on the left, thinking that I would use my smile to make this guest from afar feel the warmth of our country of etiquette, and then I turned my head and realized, "As if I am a foreigner".
Xiaomi, a girl from Dachang, suddenly realized, "So she kept staring at me for fear that I would grab the goods?"
After discovering that they couldn't find their favorite blind box in the store, the most local Thais have learned to shop online.
The official live broadcast room of Bubble Mart has become a gossip Thai set, and all kinds of Thai comments asking "is there any goods" frantically swiped the screen, resulting in a Thai response in the live broadcast room "Dear, the baby is sold out", and the anchor's next step is to study Thai overnight.
Source: Xiaohongshu @ Little Sweet Potato 12345
I went to the Beijing International Trendy Play Festival (PTS) in Bubble Mart City Park a few days ago, and it was like going abroad in a second, and it was full of Thais rushing to buy Labubu.
This fluffy elf looks unremarkable through the screen, but when she walks towards you with her ass twisted and her stomach propped up, the hunk can't resist it.
Coupled with the large forest of Chaoyang Park, City Paradise seems to be Labubu's lair. "Many viewers successfully entered the pit after watching Labubu's performance and interaction. Hu Jian, president of Bubble Mart Park business, said.
Hydrogen commercial photography
Now Labubu has become the top female in Thailand when it exports overseas, which is estimated to be unexpected and reasonable for the owner, after all, Bubble Mart has always "cultivated" Labubu as a trainee. According to Pop Mart's 2023 financial report, Labubu brought in revenue of 368 million yuan, a year-on-year increase of 39.9%. Hu Jian has made it clear that Labubu is one of the fastest-growing head IPs at the end of the year.
Specializing in finding a piece of land in Chaoyang Park, Bubble Mart also uses the shell of the park to make its own IP bigger and stronger, and even copied "Tide Play 101" overnight, and those stars have book signings, stage performances and fan meetings, and the park is no less.
The carnival and warrior training camp are like the IPs' own stage performances, watching the small toys in your hands become dolls singing and dancing in front of you, and you are really afraid to dance the girl group dance directly next time you meet.
Hydrogen commercial photography
After all, the entire The Monsters family is getting bigger and bigger now. Bubble Mart also launched the park's exclusive IP - Mokoko, a pink elf.
If Labubu's "personality" is a wild girl, then Mokoko is a sweet girl, and from the action of greeting the two IPs, you can know that the personalities are very different, and Mokoko's upturned feet and hands seem to be saying "My sister vows to hit your heart." ”
However, female celebrities singing and dancing alone can't satisfy fans, so Bubble Mart launched a treehouse meet-and-greet similar to a fan meeting and artist signing, and the corners of every fan who got Labubu's signature went from the East Fourth Ring Road to Tongzhou, suggesting that Bubble Mart quickly let Labubu learn to sign by himself, and the top stream should have the appearance of the top stream.
In the wish trip on the basement floor of the castle, Labubu has become a "model worker in the entertainment industry" in the trendy entertainment circle and continues to work frantically.
This year, perhaps to secure the title of a model worker, Labubu began to travel. first went to Milan Fashion Week in January to show his face, appeared at the scene of the 2024 autumn and winter show of China's contemporary pioneer brand PRONOUNCE, and became a fashion observer with his brother Zimomo;
"Returning to China" has not been a week yet, and he has completed the variety show debut of Washeng. sang "Entertainment Generation" with Wang Sulong in the same frame on the Mango TV variety show, and also performed the exclusive track "The Song of Labubu", and there are more and more announcements of female stars. Because it didn't take long for this elf to run to "Heartwarming Offer" to brush his face again. My recent work is to diligently imprint my figure on Luckin Coffee.
In order to get the autograph of Labubu artist Long Jiasheng, many young people and even foreigners came from other places, and the man who got the autograph and painting laughed like a 300-month-old child.
Source: Xiaohongshu @MikiM limited, swiped, Bubble Mart has quickly become the YG of the trendy toy industry. Entertainment companies have their own artists, and the artists of Bubble Mart are this group of trendy toy IPs. According to the 2023 financial report, the revenue of artist IP accounted for 76.5% of the total, with an income of 4.822 billion yuan, a year-on-year increase of 32.5%. Since 2017, Pop Mart has released new IPs every once in a while, such as Yuki, Pucky, and Satry Rory in 2018, and Dimoo, Bobo&Coco, and The Monsters (Labubu's home base) in 2019. Also since 2017, Bubble Mart has established an internal IP incubation studio PDC (POP Design Center), where the "Melancholy Boy" Hirono Ono and the IP Little Sweet Bean, which was co-branded with KFC some time ago, come from. Therefore, just like different celebrities holding different character scripts for fans to pay for them crazily, Bubble Mart will also write scripts according to the characteristics of its own artists. Molly has her own castle in the park, and the dolls will be present as the owner in the dining room to welcome guests, and the tables and chairs are full of Molly elements. Molly fans are ecstatic, this is no less than you going to idol's house for dinner, and I came out to take a photo with you.
Hydrogen commercial photography
Another example is CryBaby, which held a signing meeting in Thailand some time ago, not only the artist is a local, but also because Thais like pink, so the theme of the entire signing is mainly pink;
and Peach Riot, also designed by local artists, is a band of three punk girls that focuses on American retro style, with a theme song, fashionable enough, and even becomes a template for girls to dress for Coachella.
The sub-rules shine in their respective fields, and the co-rules are like giant meet-and-greets of the same artist, such as the immersive performance of "Wish Journey" under the park and the 13th anniversary series of trendy toys, and the degree of "star-studded" is comparable to the annual meeting of an entertainment company.
In short, the star-making routine of the entertainment industry is to make Bubble Mart understand.
It's not enough to let your own IP be announced daily, Bubble Mart recently directly held an "IP Spring Festival Gala".
At the Beijing International Trendy Toy Festival, which started on April 12th, Bubble Mart moved the trendy toy exhibition directly into the park, where it was able to participate in 26 trendy toy designer signing activities and nearly 100 performing arts activities at the exhibition, and went to Chaoyang Park to take a walk and say hi to the college students lying in the tent opposite.
Hydrogen commercial photography
This is also the first time that the International Trendy Toy Festival has changed from an "exhibition" to a "festival" since its launch in 2017.
When there are too many trendy toy exhibitions to count, only to find that it is actually just a large-scale citywalk, with exactly the same booths lined up in rows and rows, and the exhibition halls located in the convention and exhibition centers around the country become extra "human" after staying for a long time, so your enthusiasm eventually becomes a test of foot strength and respiratory tract.
At this time, the oxygen-rich tide play festival in Chaoyang Park first showed off in terms of taste.
If you are interested, you can visit the booth and queue up to sign the sale, and when you are tired, you can also lie directly on the equipment in the park to feel the taste of spring, and when you are hungry and thirsty, you can run to Molly Castle to have a big meal, but unfortunately there are not enough camping tents, otherwise you can directly enjoy the happiness of young people - sleeping anywhere.
Hydrogen commercial photography
On the one hand, it is the homogenization of the trendy toy exhibition, and on the other hand, it is the unique advantage of its own IP and the geographical location of the park. "Pop Mart is like finding a group for niche brands. The owner of the trendy niche brand NAIB told me.
Previously, the sales of IP derivatives in Bubble Mart Park were 5 times that of ordinary stores, and the secondary consumption after entering the park accounted for 72% of the total revenue, mainly from stores and restaurants.
From building its own theme park to holding an international trendy toy festival in the park, Bubble Mart may not want to only be a blind box sales crown, but now it wants to develop secretly.
In the 2023 financial report released by Pop Mart last month, it achieved the largest increase since 2019, with a total revenue of 6.301 billion yuan, a year-on-year increase of 36.46%, a year-on-year increase of 127.55% in net profit, and an 11-fold increase in revenue in 5 years.
The day before yesterday, Pop Mart released its latest financial report for the first quarter of this year, with total revenue increasing by 40%-45% year-on-year. Okay, everyone holds hands to "enjoy" the thrill of the economic downturn, why are you Bubble Mart secretly making money?
Again, no one in the trendy toy circle understands the entertainment industry better than Bubble Mart.
glanced at his financial report, only to find that Bubble Mart has already created a vast "IP universe", with 10 IPs with annual sales of more than 100 million yuan in 2023, of which Skullpanda's performance increased by 20.34% year-on-year, and the "Temperature" series alone sold nearly 400,000 sets, and the "eldest sister" Molly can still sell 100000000000000 after returning in 17 years.
The form of toys has also gradually blossomed from conventional PVC, for example, the new Labubu product that is out of the circle in Thailand this time is a plush product, and according to Wang Ning, the founder of Bubble Mart, 3 new product lines will be launched this year, and the building blocks will also be listed around the middle of the year.
"Labubu is more suitable for plush toys, and its good performance in this category has also inspired us to help more IPs find good categories, effectively avoiding competition between different IPs. Bubble Mart Chief Operating Officer Side pointed out.
While creating different IPs and making them stronger and bigger, Bubble Mart also aims at the current financiers with more spending power - small town ladies and county youths.
Since last year, a discussion about "county life" has been in the crosshairs. From the county's food Tustin makes the first-tier city workers crazy, to this year's Chinese New Year, "the family Wang stays in his hometown, and the family is poor and goes to another country", if the only daughter in Jiangsu, Zhejiang and Shanghai is still difficult to imitate because of geographical restrictions, the small town lady has already become the latest legend of everyone's hometown.
It was at this time that Bubble Mart became the joy of life for the ladies of the town. In 2023, Pop Mart will open 27 new retail stores and 52 robot stores in second-tier cities and below, and will receive 1.002 billion yuan in revenue from offline channels here.
It also shows the financial resources of the small town lady and the income of Bubble Mart Douyin last year, which rose 431.2% year-on-year to 280 million yuan, "many of which come from the real money of new users in the sinking market." In the past quarter, the ladies of the town still threw silver, and Bubble Mart Douyin continued to increase by 95%-100% year-on-year.
Last year, Bubble Mart's overseas revenue reached 1.066 billion yuan, a year-on-year increase of 134.9%, and Wang Ning predicted that the overseas business in 2024 is confident to exceed the group's revenue in 2019 before the IPO, "equivalent to creating another Bubble Mart overseas."
Today's Thailand has begun to show signs of growth, and the sales of the first store in Thailand, which opened in September last year, have reached 2 million yuan on the same day. From top streamers to princesses, from hipsters to migrant workers, this "specialty" from China is making Southeast Asia crazy.
Bubble Mart is no longer the blind box with thick eyebrows and big eyes. From PVC, vinyl, to plush, building blocks, from Molly to the richer and richer IP universe, we are going further and further on the road to creating a top stream.
Of course, more importantly, let more people know about Chinese trendy toys.
Source: Xiaohongshu @.Every once in a while, young people will have a new IP favorite. The most popular one is Chiikawa, which sold 8 million in 3 days, and before that, there are Loopy, Line Puppy, and Pink Bunny. Although our IP friends are constantly changing, they do have one thing in common, and most of them are from Japan and South Korea. It's rare to see domestic IP making young people crazy, and it has to be the group of "ancestors" in the last century, such as Brother Monkey. Bubble Mart has been controversial over the years. What is the purpose of buying a blind box? Is the opening of the park going to be a Chinese Disney? Some people have always asked.
From relying on Molly to become a princess and harvesting top tap water, the most right thing Bubble Mart has done is to do a good job of IP, so that the babies "have flesh and blood and life".
5 days ago, Lisa posted the latest "Crying Baby" co-branded Powerpuff Girls series on ins, "Is she planning to open a Bubble Mart flagship store at home?" ”
编辑 | 橘总作者 | 嘴嘴设计 | 胖兔开篇图源 | 小红书@fion🌈fi安安🍭