About 3 months after the Chinese toymaker opened its first concept store for its IP Hirono in Shanghai, it has opened another in Chengdu. This time, the toymaker dedicated the Chengdu store, called POP MART Collection, to the collectible nature of its rare and special offerings, especially the “MEGA” collection, launched in 2021 as “young people’s first collector’s items”.
Located at SKP Chengdu, POP MART Collection debuted with new collectibles in the “MEGA” series, such as MEGA SPACE MOLLY 400% Mocha and MEGA SPACE MOLLY 400% Engine. The 200 sqm store is located on the second floor of SKP Chengdu. The location was to elevate the POP MART Collection to a more premium positioning, while the design of the store is an industrial look inspired by space, with a large-scale SPACE MOLLY statue at the entrance.
As the first of the Collection shops, the Chengdu concept store also means that collectability and items catering to collectors are now part of the company’s strategy. This is similar to how the dedicated Hirono store or the earlier LABUBU pop-up exhibition continues to show that POP MART has shifted from a “blind box” brand to an IP company. Similarly, the POPOP venture into high-end jewellery was also POP MART’s approach to diversification and higher brand positioning.
In 2024, the MEGA collection earned 1.68 billion RMB (233.19 million USD), up 146.1% year-on-year (YoY), and contributed to 12.9% of all POP MART’s revenue. With the brand’s financial success, its share prices surged 5.42% in a single day on 27 May, pushing the market value of POP MART to 313.2 billion HKD (39.96 billion USD). POP MART remains one of the hottest brands to watch in China.