Company Profile - Pop Mart

Pop Mart's secret ingredient: Love

Josh Selig is the creator and executive producer of many animated series including Small Potatoes (CBeebies/Disney), P. King Duckling (CCTV/Disney) and The Dog & Pony Show (Peacock in the US). He has a long history of developing original shows including The Wonder Pets (Nick Jr., toys by Fisher-Price) and Super Wings! (KIKA, toys by Alpha Group) and has received 12 Emmy Awards. Now the founder and president of China Bridge Content, Josh also works with Chinese companies, helping them to create original content for the international market. Here he shares how, currently, there's one retailer they're all keen to work with - Pop Mart.

A few months ago, I didn't know much about Pop Mart except that it sold cute, collectible toys. Since then, I've learned a lot about this unique Hong Kong-listed company, and I'm now convinced it’s doing something far more important than just selling toys. Pop Mart is redefining the way original characters are created, marketed and, crucially, embraced by their loyal fan base. I believe Pop Mart has the potential to revolutionize the toy retail landscape.

Historically, characters have mostly been introduced to fans through animated content which is developed, produced and then shared on screens - large and small - across the globe This process requires a significant, and sometimes onerous, amount of time and resources, and only those IPs which build a massive, documented audience are in with a chance of securing a coveted toy deal. As most of you understand, selling toys is one of the few ways that an IP can make any money. ey player in this value chain - and one who's usually behind the scenes – is the IP creator.

Creators of shows, although absolutely critical at the IP's inception, are not typically involved in the development or marketing of the toys based on their characters. Most creators get left off the e-mail chain once the Consumer Products team takes over to develop style guides, design the toys, pitch at Toy Fair or Licensing Expo and sell the toys at retail. Only those creators with the strongest track records (or the priciest entertainment lawyers) ever get to see a penny of the revenue that their IPs might earn in the world's toy aisles.

At Pop Mart, things are quite different. Pop Mart creators typically sign deals before any animated content is created, and they are invited to personally oversee the design of the toys that Pop Mart sells. Pop Mart creators are encouraged to appear at Pop Mart stores to share their creative process and engage with Pop Mart fans. Finally, most Pop Mart creators participate directly in the revenue of all their IP's toy sales.

Such artist-centric practices are almost unheard of in our industry and have at least two positive knock-on effects, which are a big factor in Pop Mart's success. Firstly, they build loyalty between creators and Pop Mart, something which is sorely missing in the entertainment business, where creators regularly jump ship to a competing platform or toy company. Secondly, they foster loyalty between Pop Mart and its customers who feel they're on the inside track with their favourite characters and their cool creators. It's this bespoke loyalty which has led international celebrities like Rihanna or Blackpink's Lisa to show off their Pop Mart toys, and it's what inspires fans to queue around the block whenever a new Pop Mart store opens its doors.

These aren’t the only factors contributing to the meteoric rise of Pop Mart over the past five years. According to Pop Mart's 2024 Annual Report, last year the company reported global revenues of 13.04b RMB (US$1.8b), a YOY growth rate of 375.2% (excluding mainland China) and an expanding presence in nearly 100 countries and regions. The company’s stock price is up 83% since 2020 with no signs of slowing downdespite tariffs.

I've read a lot of interesting theories about why Pop Mart's characters are so addictive, including this one from Annabel Rackham at BBC News, who wrote: "While it's difficult to pin their recent rise in popularity to one particular ingredient, celebrity endorsement, social media unboxing videos and their ability to stir up nostalgia are all contributing factors." I would add that the success of Pop Mart can be attributed to one key ingredient: Love.

The writer Aaron Sorkin famously wrote in Vanity Fair that "The most powerful delivery system ever invented for an idea is a story." I agree with Mr Sorkin, and I would also argue that the most powerful delivery system ever invented for love is characters. Kids - as well as teens and adults – are driven to purchase character-based toys if they've cultivated a significant amount of love for that character. This type of love historically evolves over time as fans share new experiences with characters through various forms of media such as shows, films, games, manga, etc.

Pop Mart has developed what I consider to be a fast, new and highly potent "love delivery system." It starts with the creators' love for their character, which is protected and nurtured during the toy's development and marketing; this ensures the love remains intact until it finds a home in the heart of a customer. This love is usually felt most intensely at the moment a Pop Mart fan opens up his or her blind box. If you've never tried it, you really should.

As one Pop Mart staffer, Yuki Qi, wrote online, "Our star Lububu has taken cuteness to a whole new level. Her round, chubby face is super soothing...it's just pure dopamine overload. Every time I see it, my mood instantly lifts - it's truly my mental candy. I just can't help but love it."

It's not that other toy companies don't appreciate loveof course they do. But no one's ever corralled the emotion in quite the way Pop Mart does. In a world filled with uncertainty, a strong dose or two of love from a Pop Mart toy can provide real solace.