Latest news with #ZhangZhanming
Independent Singapore
16-06-2025
- Business
- Independent Singapore
Labubu creator Pop Mart ditches toys for jewelry with new concept store
SHANGHAI: Thriving on an upsurge of worldwide fervour for its peculiar characters, particularly the intensely popular 'ugly-cute' Labubu, blind box toy giant Pop Mart has formally joined the jewellery game. The brand revealed its first-ever jewellery concept store, 'Popop,' in the heart of Shanghai on Friday, signifying an audacious new section in its retail growth. The boutique offers a variety of fanciful accessories highlighting Pop Mart's iconic characters, such as Labubu, Molly, and Skullpanda, represented as silver rings, trinkets, and statement ornaments. An exceptional success story Although much of China's shopper market remains to steer economic setbacks and a cooling property sector, Pop Mart has continued to be an exceptional success story. Its inexpensive, collectible toys have hit a profound emotional chord with younger customers, driving a share price outpouring of more than 200% in 2025 alone. Among those paying close attention to Pop Mart's retail path is investor Zhang Zhanming, who owns approximately 100 million yuan ($13.92 million) in corporate shares. He flew from Chongqing to be present during the opening, interested in the new concept and planning a bigger stake. 'The pricing and audience targeting are spot-on,' Zhang told reporters. 'Pop Mart has the potential to become China's own Disney.' Valued at nearly $45.65 billion at present, the company's aspirations exceed the manufacture of toys. The jewellery line intends to tap into the flourishing 'emotional consumption' movement, where young consumers choose reasonably priced luxury possessions that trigger pleasure and creativity. Fang Ke, 35, mirrored this sentiment as she bought herself a 699-yuan Labubu bangle as an early birthday gift. 'I've loved Pop Mart for a long time,' she said. 'It's bright, playful, and visually impactful. My daughter loves it too.' Affordable luxury Popop's prices range from 350 yuan for trinkets and modest rings to almost 2,699 yuan for statement ornaments, most of them valued under 1,000 yuan, placing the store steadily in the inexpensive luxury sector. Pop Mart's main offering remains its 'blind box toys,' frequently priced at 69 yuan and up, but buyers' craving for exceptional or limited-edition items is escalating. Earlier this week, a life-sized Labubu was bought at a confounding 1.08 million yuan at a Beijing auction, converting a toy into a trophy collectible. See also "Ugly Beauty" trend challenges conventional makeup norms With a fanbase that extends to continents and collector interest at an unprecedented level, Pop Mart's venture into fashion jewelry could be the next step in its conversion from trendy toy brand to lifestyle kingdom.
Fashion Network
16-06-2025
- Entertainment
- Fashion Network
Labubu-maker Pop Mart diversifies into jewellery with new concept store
Investor Zhang Zhanming, 34, who owns Pop Mart stocks worth 100 million yuan ($13.92 million), flew from his base in the southwestern Chinese city of Chongqing for the opening to check out the new store type and decide whether to increase his shareholding in the company. "I believe that the pricing and target audience for this brand are particularly well-suited, and I am confident that Pop Mart could potentially become China's version of Disney," Zhang said, predicting that the company's market cap could double from its current $45.65 billion valuation. Along with some Disney characters and others related to anime, comics and popular video games, Pop Mart's characters are seen as fulfilling what has been called "emotional consumption", which sees young consumers spend on affordable luxuries that bring joy into their lives. Fang Ke, 35, who has a birthday coming up this month decided to treat herself to a 699 yuan Labubu bracelet at the opening. "I've loved Pop Mart for a long time; it's good-looking, brightly coloured, and also has a visual impact," she said. "My daughter likes it too." At Popop, prices start at around 350 yuan for charms or a simple silver ring, and go as high as 2699 yuan for necklaces adorned with metallic models of the characters. Most pieces are priced at under 1,000 yuan. At a traditional Pop Mart store, the "blind box" toys that the chain is best known for generally sell for 69 yuan and up, but consumers have shown a willingness to shell out much more for limited editions. Earlier this week, a Beijing auction house sold a human-sized Labubu figure for 1.08 million yuan, setting a new record and marking the toy's switch from craze to collectible.
Fashion Network
16-06-2025
- Entertainment
- Fashion Network
Labubu-maker Pop Mart diversifies into jewellery with new concept store
Investor Zhang Zhanming, 34, who owns Pop Mart stocks worth 100 million yuan ($13.92 million), flew from his base in the southwestern Chinese city of Chongqing for the opening to check out the new store type and decide whether to increase his shareholding in the company. "I believe that the pricing and target audience for this brand are particularly well-suited, and I am confident that Pop Mart could potentially become China's version of Disney," Zhang said, predicting that the company's market cap could double from its current $45.65 billion valuation. Along with some Disney characters and others related to anime, comics and popular video games, Pop Mart's characters are seen as fulfilling what has been called "emotional consumption", which sees young consumers spend on affordable luxuries that bring joy into their lives. Fang Ke, 35, who has a birthday coming up this month decided to treat herself to a 699 yuan Labubu bracelet at the opening. "I've loved Pop Mart for a long time; it's good-looking, brightly coloured, and also has a visual impact," she said. "My daughter likes it too." At Popop, prices start at around 350 yuan for charms or a simple silver ring, and go as high as 2699 yuan for necklaces adorned with metallic models of the characters. Most pieces are priced at under 1,000 yuan. At a traditional Pop Mart store, the "blind box" toys that the chain is best known for generally sell for 69 yuan and up, but consumers have shown a willingness to shell out much more for limited editions. Earlier this week, a Beijing auction house sold a human-sized Labubu figure for 1.08 million yuan, setting a new record and marking the toy's switch from craze to collectible.
Fashion Network
15-06-2025
- Entertainment
- Fashion Network
Labubu-maker Pop Mart diversifies into jewellery with new concept store
Investor Zhang Zhanming, 34, who owns Pop Mart stocks worth 100 million yuan ($13.92 million), flew from his base in the southwestern Chinese city of Chongqing for the opening to check out the new store type and decide whether to increase his shareholding in the company. "I believe that the pricing and target audience for this brand are particularly well-suited, and I am confident that Pop Mart could potentially become China's version of Disney," Zhang said, predicting that the company's market cap could double from its current $45.65 billion valuation. Along with some Disney characters and others related to anime, comics and popular video games, Pop Mart's characters are seen as fulfilling what has been called "emotional consumption", which sees young consumers spend on affordable luxuries that bring joy into their lives. Fang Ke, 35, who has a birthday coming up this month decided to treat herself to a 699 yuan Labubu bracelet at the opening. "I've loved Pop Mart for a long time; it's good-looking, brightly coloured, and also has a visual impact," she said. "My daughter likes it too." At Popop, prices start at around 350 yuan for charms or a simple silver ring, and go as high as 2699 yuan for necklaces adorned with metallic models of the characters. Most pieces are priced at under 1,000 yuan. At a traditional Pop Mart store, the "blind box" toys that the chain is best known for generally sell for 69 yuan and up, but consumers have shown a willingness to shell out much more for limited editions. Earlier this week, a Beijing auction house sold a human-sized Labubu figure for 1.08 million yuan, setting a new record and marking the toy's switch from craze to collectible.
