Big Take

The Chinese Toy Company Defying the Trade War

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Apr 22, 2025
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ANECDOTE

Blind Box Shaking Experience

  • A woman at a Hong Kong mall shook Pop Mart blind boxes to guess the toy inside by sound.
  • Shaking helps buyers avoid repeats and adds excitement to the blind box experience.
INSIGHT

Pop Mart's Global Phenomenon & Resilience

  • Pop Mart's Labubu dolls became globally viral, with fans lining up overnight for releases.
  • Despite the trade war, Pop Mart's stock surged over 250% since 2020 IPO, showing resilience.
INSIGHT

Global Appeal Means 'Not Too Chinese'

  • Pop Mart's branding and design avoid overtly Chinese elements for global appeal.
  • Success abroad requires Chinese companies not to appear 'too Chinese' to attract international customers.
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