Market Shifts After POP MART's IPO: Differentiation Strategies of TOP TOY, X11, and 52TOYS

After POP MART's IPO, its market cap halved and the blind box bubble deflated. Brands like TOP TOY, X11, and 52TOYS are opening multi-category stores to reduce reliance on blind boxes, using cultural spaces and designer signings to educate consumers. AI-generated

Why it matters：Analyzes market shifts after POP MART's IPO and compares strategies of TOP TOY, X11, and 52TOYS.

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