Big Take Asia How a Chinese Toy Company Is Defying the Trade War
Apr 22, 2025
Shuli Ren, a Bloomberg Opinion columnist and expert on Chinese markets, discusses the impressive rise of Pop Mart, a toy company capturing global attention with its Labubu dolls and blind box collectibles. She highlights how celebrity endorsements, particularly from K-pop star Lisa, fuel demand. The conversation also delves into Pop Mart's innovative strategies, its resilience amid economic challenges, and how it inspires other Chinese brands to navigate international markets. This is a fascinating look at how a toy company is impacting China's economy.
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Shaking Blind Boxes for Surprise
- Pop Mart shoppers shake blind boxes to guess which toy is inside before buying.
- This physical engagement creates excitement and anticipation for the surprise element.
Pop Mart's Tariff-Proof Demand
- Pop Mart's toys have inelastic demand, making them recession- and tariff-proof.
- Despite trade wars and tariffs, the company's sales and stock price have surged significantly.
K-pop Star Boosts Pop Mart
- K-pop star Lisa publicly endorsed Pop Mart's La Bubu dolls, fueling massive fan demand worldwide.
- Her obsession and social media exposure significantly boosted the popularity of Pop Mart toys.