Key facts
- Pop Mart has opened its first "Pop Bakery" concept store in Southeast Asia.
- The new Pop Bakery is located at Singapore's Resorts World Sentosa.
- A new Pop Mart store has also opened at Singapore's Resorts World Sentosa.
- The expansion occurs amid a slowdown in Pop Mart's domestic sales.
- Demand for Pop Mart products is normalizing after a strong IP cycle.
Chinese toymaker Pop Mart has expanded its international presence with the opening of its first "Pop Bakery" concept store in Southeast Asia. The new venture is situated at Singapore's Resorts World Sentosa, a popular integrated resort. This launch is accompanied by the opening of a new Pop Mart store at the same venue. The expansion into Singapore comes at a time when Pop Mart is navigating a slowdown in its domestic sales. The company is also observing a normalization of demand, which follows a period characterized by a strong performance driven by its intellectual property (IP) cycle. This strategic move into a new regional market aims to diversify revenue streams and offset the challenges faced in its primary market.