Pop Mart (Thailand)

Pop Mart (HKEX: 9992) is a Beijing-headquartered global IP + collectible-toy company best known for its "blind box" format — a retail model that turned toy-buying into what the Financial Times called "an act of trendy connoisseurship among China's young affluent consumers", and that single-handedly created the designer-toy category as we know it today. Founded in 2010 by Wang Ning, Pop Mart went public on the Hong Kong Stock Exchange in 2020 with a US$676M raise at a ~$7B valuation, and has since grown to 288+ stores and 1,800+ "roboshop" vending machines across China + 37 staffed outlets in the US, with 2023 net profit of $165M. Its character IPs — LABUBU (Kasing Lung), MOLLY (Kenny Wong), DIMOO, SKULLPANDA, and Hirono — have built dedicated collector communities worldwide, alongside licensed collaborations with Disney, DC Comics, SpongeBob, Harry Potter, Teletubbies, and Care Bears. In Thailand, Pop Mart operates flagship stores at Siam Discovery, CentralWorld, and ICONSIAM, and the brand's self-expression + cultural-IP positioning has found an unusually strong home with the Thai Pink Economy's Gen Z/Y collector audience — one of Pop Mart's top five Southeast Asian markets by revenue. The company also operates Pop Land, a dedicated branded amusement park in Beijing, and a social + toy-trading app for its community.