POP MART opens another store in Brisbane, expanding business in the City of Olympics 2032

BEIJING, Nov. 2, 2023 /PRNewswire/ -- On 27 September, POP MART opened its second Brisbane store at Westfield Mt Gravatt, which is also the largest POP MART store by far in Australia. After opening the Indooroopilly Store in July, POP MART tapped into the "Sunshine City" once again.

As the third largest city in Australia, Brisbane is located on the south of Sunshine Coast and the north of the international tourist attraction Gold Coast. With an annual sunshine time of 7.5 hours on average, Brisbane is known as the "Sunshine City". The 2032 Summer Olympics will also be hosted in Brisbane, and this city is under intensive infrastructure construction with up to AUD 19 billion investment. This is expected to further enhance Brisbane's urban environment and make Brisbane a leading premium tourist destination in the world. Because of Brisbane's business potential, POP MART has opened two stores in Brisbane in just three months.

Westfield Mt Gravatt, the shopping mall where the new store is located, is in the south of Brisbane and about 12 kilometers from CBD. It is one of the major local shopping malls in Brisbane, with over 470 brands including supermarkets, restaurants, cinemas, and other entertainment facilities.

At the entrance of Mt Gravatt Store, you can see the photoshoot site of the giant DIMOO statue, which is decorated with floor-to-ceiling glass windows. The jungle-like setting is full of Australian styles. The store has also set up a decorative wall inside, featuring The Monsters Family including LABUBU, ZIMOMO, TYCOCO... These familiar and mischievous characters are welcoming customers into this "fairy forest".

A wide range of popular POP MART limited-edition art toys were displayed and sold at Mt Gravatt. The opening day of 27 September welcomed the return of PUCKY the Ghost - Sparkle Pink and A Boy - Mint. More limited-edition products joined the grand celebration on 30 September, including SKULLPANDA Dark Maid, LABUBU Shepherd, and Ice Erosion Molly "Prisma". The Brisbane-limited ZIMOMO Sunny Figurine made its debut, hoping to bring fun and surprises to local fans.

As China's leading pop culture and entertainment company, POP MART started its business in Australia in 2021. In August 2022, with the first Australian store opened in Melbourne, POP MART was pursued and loved by young Australian consumer groups.

This year, POP MART has opened three physical stores in Sydney. So far, POP MART has eight physical stores, 16 Robo Shops, and one e-commerce channel in Australia. Shared by the business director of POP MART Australia, POP MART will continue its development in Australia, communicate with consumers from different cultural backgrounds, and create more artistic and cultural interactions.

The continuous global expansion plays an important role in boosting sales. The Company's 2023 semi-annual report shows that POP MART's business outside the Chinese Mainland has maintained fast growth. In the first half of 2023, the revenues generated in Hong Kong, Macao, Taiwan, and other countries was RMB 376 million with a year-on-year growth of 139.8%, and it has achieved an operation profit of RMB 78.89 million.

At the 2023 semi-annual report performance briefing, Wang Ning, Chairman and CEO of POP MART, said that POP MART is expected to harvest RMB 1 billion in revenue outside the Chinese Mainland. He is confident that it will exceed the entire group's pre-IPO revenue in 2019 next year as if another successful story of POP MART is replicated overseas.

SOURCE POP MART