深度融入当地生态 泡泡玛特IP出海新范式

Core Insights - The article highlights the rapid global expansion of Pop Mart, a Chinese toy brand, which has transformed from a single store in Zhongguancun to a company valued over HKD 100 billion, utilizing cultural symbols to penetrate regional barriers [1] Group 1: IP Development and Strategy - Pop Mart's core operational strategy revolves around IP (Intellectual Property), with LABUBU being a prime example of successful long-term investment and sustainable operation, leading to its global popularity [3][5] - LABUBU's success is attributed to continuous innovation in product categories, such as the introduction of plush toys that resonate with the character's theme, resulting in significant market traction [3][5] - The revenue from LABUBU's IP, part of THE MONSTES, reached CNY 3.04 billion in 2024, marking a year-on-year growth of 726.6%, making it the top revenue-generating IP for Pop Mart [5] Group 2: Cultural Adaptation and Global Strategy - Cultural adaptation is identified as a key factor in Pop Mart's international success, with the company signing local artists to cater to diverse consumer preferences [6][7] - The strategy emphasizes "global resonance and local cultivation," creating products that appeal to local consumers, such as Thai traditional clothing for LABUBU and collaborations with renowned IP companies [7] - Pop Mart's overseas revenue share increased from 15% in 2023 to 30% in the first half of 2024, with a target of reaching 55% by 2026 [7] Group 3: Market Entry and Expansion - Pop Mart's market entry strategy is based on cultural acceptance rather than GDP size, initially targeting culturally rich countries like France and the UK before expanding to Italy, the Netherlands, and Spain [8] - The opening of a store in the Louvre in Paris in 2024 marked a significant milestone, enhancing Pop Mart's global influence as the first Chinese toy brand to enter the venue [8] Group 4: Organizational Structure and Challenges - In April 2023, Pop Mart initiated its largest organizational restructuring in five years, signaling a commitment to its global strategy, with a focus on North America and Europe [9] - The company faces challenges related to international trade policies, cultural differences, and the management of a growing overseas team, which now includes over 1,000 foreign employees [9][10] - To address these challenges, Pop Mart is building a localized team in each market to ensure standardized processes and effective management [10]