ales from markets outside mainland China, including Hong Kong, Macao and Taiwan, reached RMB5.07 billion, up 375.2 per cent, year on year, and accounted for 38.9 per cent, year on year.  Pop Mart continued to expand its bricks-and-mortar footprint, adding 38 new stores in Mainland China, bringing the total to 401, alongside 110 new Roboshop vending machines, now totaling 2300. Despite this physical expansion, the company managed to increase store revenue by 43.9 per cent, to RMB3.83 billion, while Roboshop revenue climbed 26.4 per cent, to RMB700 million. Last year, Pop Mart opened its first bricks-and-mortar outlets in Vietnam, Indonesia, the Philippines, Italy and Spain, while establishing a presence in several iconic locations worldwide, including inside the Louvre in Paris, on Oxford Street in London, and at SunWorld Ba Na Hills in Da Nang, Vietnam. Meanwhile, digital sales showed growth. The Tmall flagship store recorded a 95 per cent increase, reaching RMB630 million. Livestreaming e-commerce also played a vital role, generating RMB600 million, an increase of 112.2 per cent, thanks to a revamped strategy that introduced category-specific broadcasting studios.  IP monetisation and the rise of plush toys Pop Mart’s intellectual property (IP) operations reached new heights with four key brands – The Monsters, Molly, Skullpanda and Crybaby. Each surpassed RMB1 billion in revenue. In total, the company’s IP ecosystem contributed more than RMB3 billion, with standout performances from characters like Dimoo World, Hirono, Zsiga, and Hacipupu.  Among original studio creations, Hirono generated RMB730 million, doubling its performance year on year. Meanwhile, Peach Riot, an IP by North American artist Libby, continued its international success, and newly launched Twinkle Twinkle demonstrated strong early traction in the market. A highlight of 2024 was the meteoric rise of plush toys. The category experienced an astonishing 1289 per cent year-on-year revenue increase, reaching RMB2.83 billion and accounting for 21.7 per cent of revenue. This marks a major shift in Pop Mart’s product strategy, expanding beyond blind boxes and figurines into new collectible categories. Looking ahead The global blind-box toy industry is experiencing growth, with Cognitive Market Research projecting sales of US$14.2 billion this year. The Apac region is showing particularly strong momentum; while it currently represents 23 per cent of global revenue at $3.2 billion, projections suggest it will expand to 31.55 per cent market share, worth $5.9 billion, by year’s end. As the sector continues to expand at breakneck speed, questions arise about its longevity. Is the blind-box craze a fleeting phenomenon driven by novelty, or does it have the staying power to evolve into a lasting cultural mainstay? Justin Moon, president of Pop Mart International, is betting on the latter, pointing to innovation, sustainability and diversification as the cornerstones of future growth. “We will see growth in AR, virtual experiences, eco-friendly materials, and expanding into lifestyle categories and personalised products,” he said. “Immersive offline stores will remain essential, offering vibrant designs, themed displays, and social spaces to engage young consumers. As competition grows, innovation, user engagement, and unique experiences will be key. Pop Mart is committed to shaping the future of blind boxes with creativity and meaningful connections worldwide.” Moon further highlighted the company’s global ambitions.  “Pop Mart sees untapped potential in expanding to new markets and deepening connections with local consumers. As global interest in collectibles grows, regions valuing creativity and immersive experiences hold great promise. Our focus is on understanding local cultures and needs while maintaining Pop Mart’s unique identity to foster meaningful engagement worldwide,” he concluded. Further reading: The secrets behind the blind box phenomenon.