Labubu retailer Pop Mart focused on taking Chinese brand to world, CEO says
'We originally hoped to become China's Disney; now we hope to become the world's Pop Mart,' the company's founder and CEO, Wang Ning, said in an interview with state broadcaster China Central Television on Thursday.
'We use China's manufacturing industry and market to incubate artists from all over the world, and bring their creations back out to the world.'
Pop Mart, a retailer with an intellectual property-focused business model, has seen its international revenue soar with the explosive global popularity of its Labubu dolls.
The plush character with pointy ears, jagged teeth and signature mischievous grin, has gained high-profile fans like Lisa from K-pop group Blackpink and global music icon Rihanna, and is often sold out around the world.
The company's revenue from markets outside mainland China surged 375.2 per cent to 5.07 billion yuan (US$708.35 million) last year and is set for further growth.
'This year, overseas sales will likely surpass domestic sales,' Wang said, noting that sales in North America were expected to exceed sales in Southeast Asia, its top-performing overseas market last year.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Standard
33 minutes ago
- The Standard
HK Disneyland donates over HK$5 million to bring joy to child patients and empower youth
When did Disney villains stop being so villainous? New show suggests they may just be misunderstood
RTHK
2 hours ago
- RTHK
Shaolin abbot disrobed for 'extremely bad behaviour'
Shaolin abbot disrobed for 'extremely bad behaviour' Shi Yongxin is said to have 'seriously violated Buddhist precepts', including allegedly engaging in 'improper relationships' with women. File photo: Reuters The head of the Chinese temple known as the birthplace of kung fu will be disrobed for "extremely" bad behaviour, Beijing's top Buddhist authority said on Monday, after allegations of embezzlement saw him placed under investigation. The Shaolin Temple said on Sunday that Abbot Shi Yongxin, known as the "CEO monk" for establishing dozens of companies abroad, was suspected of "embezzling project funds and temple assets". It said Shi had "seriously violated Buddhist precepts", including by allegedly engaging in "improper relationships" with multiple women. "Multiple departments" are conducting a joint investigation, it said in a statement on WeChat. The Buddhist Association of China, overseen by the Communist Party, said on Monday it would cancel Shi's certificate of ordination. "Shi Yongxin's actions are of an extremely bad nature, seriously undermining the reputation of the Buddhist community, hurting the image of monks," the association said in an online statement. Shi had previously been accused by former monks of embezzling money from a temple-run company, maintaining a fleet of luxury cars and fathering children with multiple women. China's government exercises authority over the appointment of religious leaders, and "improper" conduct is often grounds for removal from office. A hashtag related to the temple scandal had been viewed more than 560 million times on social media platform Weibo as of Monday morning. The last post to the abbot's personal account on Weibo declared: "when one's own nature is pure, the pure land is here in the present". Shi faced similar allegations in 2015 which the temple called "vicious libel". Shi, 59, took office as abbot in 1999 and in the following decades expanded Shaolin studies and cultural knowledge overseas. He helped the temple establish dozens of companies – but received backlash for commercialising Buddhism. The temple, established in AD 495, is known as the birthplace of Zen Buddhism and Chinese kung fu. Shi was first elected vice-chairman of the Buddhist Association of China in 2002 and has served as a representative to the National People's Congress. (AFP)
HKFP
3 hours ago
- HKFP
China's Shaolin Temple head removed over embezzlement claims
The head of the Chinese temple known as the birthplace of kung fu will be disrobed for 'extremely' bad behaviour, Beijing's top Buddhist authority said Monday, after allegations of embezzlement saw him placed under investigation. The Shaolin Temple said on Sunday that Abbot Shi Yongxin, known as the 'CEO monk' for establishing dozens of companies abroad, was suspected of 'embezzling project funds and temple assets'. The monastery said Shi had 'seriously violated Buddhist precepts', including by allegedly engaging in 'improper relationships' with multiple women. 'Multiple departments' were conducting a joint investigation, it said in a statement on WeChat. In response, the Buddhist Association of China, overseen by the ruling Communist Party, said Monday it would cancel Shi's certificate of ordination. 'Shi Yongxin's actions are of an extremely bad nature, seriously undermining the reputation of the Buddhist community, hurting the image of monks,' the association said in an online statement. The association 'firmly supports the decision to deal with Shi Yongxin in accordance with the law'. Shi had previously been accused by former monks of embezzling money from a temple-run company, maintaining a fleet of luxury cars and fathering children with multiple women. China's government exercises authority over the appointment of religious leaders, and 'improper' conduct is often grounds for removal from office. A hashtag related to the temple scandal had been viewed more than 560 million times on social media platform Weibo as of Monday morning. The last post to the abbot's personal account on Weibo declared: 'when one's own nature is pure, the pure land is here in the present'. Shi faced similar allegations in 2015 which the temple called 'vicious libel'. Shi, 59, took office as abbot in 1999 and in the following decades expanded Shaolin studies and cultural knowledge overseas. He helped the temple establish dozens of companies — but received backlash for commercialising Buddhism. The temple, established in AD 495, is known as the birthplace of Zen Buddhism and Chinese kung fu. Shi was first elected vice-chairman of the Buddhist Association of China in 2002 and has served as a representative to the National People's Congress, the country's top lawmaking body.
