Pop Mart expands in Thailand with new Pattaya store
Company has experienced strong growth in Thai market
Global art-toy leader Pop Mart is continuing its expansion in Thailand with the launch of a new store at Central Pattaya Shopping Centre.
The store, themed "By the Sea", marks a significant milestone for the company, which has experienced strong growth in the Thai market.
Pop Mart entered the Thai market in June 2023 with the establishment of Pop Mart (Thailand) Ltd. The company's initial performance has been impressive, with 2023 financial statements reporting total revenue of 306.19 million baht and net profit of 73.74 million baht.
After the successful launch of its flagship store at CentralWorld in September 2023, which saw significant customer interest, Pop Mart has rapidly expanded its presence in Thailand.
The new Pattaya store, featuring a unique "By the Sea" concept, aims to provide customers with an immersive and engaging retail experience.
The Pattaya store will showcase a wide range of iconic Pop Mart characters, including The Monsters (Labubu), MOLLY, Hirono, Crybaby, Skullpanda, and Dimoo. Special collections, such as the Thailand Limited, Opening Limited, Labubu Coca-Cola, The Monsters Collection, Crybaby Collection, and Mega Collection, will also be available.
The POP MART POP-UP STORE @ CENTRAL PATTAYA is scheduled to open officially January 10. Customers interested in visiting the store on their birthday can register online in advance.
Global Growth:
Pop Mart has experienced significant global growth, expanding its presence to more than 30 countries across Asia, Europe, North America and South America.
The company boasts a network of more than 500 stores, more than 2,300 robot shops, and e-commerce channels, employing about 5,500 people worldwide.
The company's success can be attributed to its innovative IP strategy, which involves collaborations with renowned artists and designers to create unique and collectible toy designs.
This has fostered a global culture of collecting random boxes, a phenomenon that has gained significant traction in Thailand.
In the third quarter of 2024, Pop Mart reported strong growth, with year-on-year revenue increasing by 120-125%. Foreign revenue grew by an impressive 440-445%. The company has set an ambitious revenue target of US$1,390 million for 2024.
