Inside Chinese toy company Pop Mart's new store in Richmond, B.C. Chinese toy company POP MART is known for its cute, collectible and covetable figurines. It has recently opened a store in Richmond, B.C., its first retail location in Canada, and stocked it full of limited-edition designer toys.
BEIJING, Dec. 11, 2020 /PRNewswire/ -- Pop Mart International Group Limited (Pop Mart) (stock code: 9992.HK) was officially listed on the main board of Hong Kong Exchanges and Clearing Limited (HKEX) with an issuing price of HKD 38.50 per share, becoming the leading designer toy stock in China.
As defined by a report by Frost & Sullivan, designer toys are toys that skillfully incorporate pop culture. Based on 2019 revenue and revenue growth from 2017-2019, Pop Mart has become China's largest and fastest-growing designer toy company. According to 2019 retail sales figures, it made up 8.5% of the Chinese designer toy market.
China's designer toy market is getting new attention after Beijing-based creative toymaker POP MART filed for a Hong Kong IPO in June.
Global consulting company Frost & Sullivan estimates the size of China's designer toy retail market stands at 20.7 billion yuan in 2019, while it was 6.3 billion yuan in 2015, which translates to a compound annual growth rate of 34.6 percent.
Pop Mart, a mainland toy retailer, is seeking a Hong Kong initial public offering to raise US$200 million (HK$1.56 billion) to US$300 million, with a goal to become a "Disney-like" intellectual property operator and pop culture promoter.