Wang Ning plans to expand Bubble Mart IP into more fields

CCTV News cited the founder and CEO of Pop Mart (09992), Wang Ning, as saying that Pop Mart is seeking to expand the application of its IP from toys into more areas to create a more sustainable brand series.

In an interview aired yesterday on CCTV, Wang Ning stated that Pop Mart’s IP is not limited to toys and can extend to theme parks, video content, and desserts; the company has established a more sustainable IP management approach.

Wang Ning added that the popular character Labubu currently has “good conditions” to further enrich its IP connotation.

In addition, Pop Mart is collaborating with Sony Pictures to produce a movie featuring Labubu as the main character, promoting the character’s extension from merchandise sales to a broader content and experience realm. Wang Ning noted in the interview that this movie is expected to expand into theme parks, derivative products, and other experiential projects in the future.

At the same time, Pop Mart is accelerating its expansion into the daily consumer goods sector. Company executives stated at last Wednesday’s earnings briefing that Pop Mart will begin selling small household appliances on JD.com next month. Executives also disclosed that the expansion project of its theme park located in Beijing is set to open this summer, with phase two expected to start construction in 2027.

Additionally, Pop Mart is expanding new retail formats related to its characters. The company currently operates seven jewelry stores in mainland China, selling themed accessories, and plans to open its first dessert shop in the first half of the year, having previously tested the concept through pop-up stores.

However, the performance of other major characters has lagged. Sales of Crybaby and Molly have both fallen short of expectations; among them, Molly, as the company’s earliest flagship IP, highlights the challenges older IPs face in maintaining long-term growth.