Chinese toy brands expanding overseas.
Summaries are AI-generated
POP MART's Americas revenue grew 748.4% in 2025 but fell 16.5% in the first half of 2026, signaling the end of online traffic dividends. The company plans a California headquarters to shift from distribution to localization.
POP MART's first European flagship opened recently on Boulevard Haussmann in Paris, making it the first Chinese art toy brand in this core business district. The store blends Eastern creativity with Parisian aesthetics, featuring independent themed spaces for MOLLY, HIRONO, CRYBABY, and THEMONSTERS, along with interactive installations. This marks a milestone in POP MART's European expansion, with overseas stores reaching 221 and overseas revenue share steadily increasing as of mid-2026.
The co-created toy IP CHOUCHOU, featuring an 'imperfect' image, has garnered market attention. With Li Yuchun deeply involved in the design, it is seen as a new sample for Chinese original IPs going global.
The 10th IBTE Indonesia International Toy, Stationery, and Baby Products Expo will be held from August 18 to 21, 2027, at the Jakarta International Expo with an exhibition area of 20,000 square meters.
The IBTE Indonesia International Toy and Art Toy Exhibition will be held from August 18 to 21, 2027, in Jakarta, covering 20,000 square meters with over 1,000 booths and expecting 40,000 international buyers. The event features categories like building blocks, blind boxes, figures, and anime merch, aiming to provide a B2B platform for Chinese companies to enter the Southeast Asian market.
2026 mid-year results show a 11% drop in overseas revenue. Wang Ning labels 2026 a 'year of operational adjustment' and leads visits to Apple and LVMH to learn ecosystem and brand building.
Blokees' H1 2026 revenue reached 1.7757 billion yuan, up 32.7%, but gross margin fell to 44.3%. The 9.9 yuan product accounted for nearly half of sales, while overseas revenue surged 228.5% to 365.9 million yuan.
52TOYS attended both Wonder Festival in Japan and San Diego Comic-Con in July. The Alien Beast Box variant, Street Fighter 6 exclusives, and Disney Stitch products sold out, showcasing the brand's strength and overseas expansion.
POP MART and Mixue Group debuted on the 2026 Fortune China 500, with POP MART ranking 393rd with $5.164 billion revenue. The Hang Seng Stock Connect Consumer ETF heavily invests in emotional consumption sectors like designer toys, with the sector currently at historically low valuations.
A CITIC Securities report notes that Blokees will focus on brick vehicle exports in 2026, featuring affordable Marvel, Star Wars, and Transformers IP, and has entered Walmart, Amazon, and Target.
Blokees Group's stock has fallen from a historical high in June 2025, with a maximum drop of 74.51%. Despite solid fundamentals, the valuation is undergoing continuous repair due to slower new product launches, unlocking of restricted shares, and banks cutting target prices. The company is boosting confidence through share buybacks funded by its own cash reserves.
POP MART Japan announced that its first store in Okinawa will open on July 25, 2026 at Hotel Collective 1F, 2‑5‑7 Matsuo, Naha City. The shop will feature a wide lineup such as the 10‑year THE MONSTERS ‘Hair Salon’ series and the CRYBABY ‘Cry Me An Ocean’ collection, and customers spending over ¥12,000, ¥15,000 or ¥24,000 will receive exclusive CRYBABY scarves, eye masks or picnic mats respectively.
TOP TOY opened its first US store in Times Square on June 26, 2026, becoming the first Chinese designer toy brand to operate locally. The 158-square-meter store features themed zones for Nommi, Disney, and Sanrio, adopting a 'global IP + local adaptation' strategy.
52TOYS recently opened a new store at Hong Kong International Airport Terminal 1, featuring a retro terminal design, themed zones for POUKAPOUKA, NOOK, and CiCiLu, and exclusive airport merchandise.
KAYOU's IPO faces hurdles while new players like Suplay and Hitcard seek funding. The industry is shifting from low-price cards to high-value collectibles, with Chinese brands gaining an edge overseas.
MOMOTOY debuted DunDunShou and other series at the 139th Canton Fair, featuring AI companionship and gold craftsmanship. The brand secured tens of millions in investment and aims to open 50 stores globally by 2026.
MOMOTOY showcases Dun Dun Shou, Li Xiang Shen Cai, and other series at the Canton Fair, featuring AI emotional companionship and gold luxury craftsmanship. The brand secured tens of millions in investment and reached a 250 million yuan valuation within four months, planning to open 50 global stores by 2026.
On March 31, TOP TOY, a Miniso subsidiary, refiled for a Hong Kong stock market listing with JPMorgan and UBS as joint sponsors. This marks the company's second attempt to list on the HKSE after its first application failed last September.
MOMOTOY secured tens of millions in funding with an investment of 250 million yuan four months after its establishment. The company debuted 38 original IP products at the Shenzhen toy show and plans to participate in the 2026 Canton Fair.
The 38th Shenzhen Toy Fair & Art Toy Fair will be held from April 9 to 11 at the Shenzhen World Exhibition & Convention Center, with overseas buyer pre-registrations up 137.5% year-on-year. The fair features a dedicated AI Smart Toy Zone and expands the art toy exhibition area.
Dongguan's Yanchuang Culture and Duolang Culture sold out their first overseas exhibition stock on the first day. Yanchuang invests 5-10 million yuan annually to incubate new IPs, while Duolang's overseas sales accounted for about 30% of total revenue last year.
Kayou gave away 20,000 sets of horse-themed cards for 1 cent at the 2026 Spring Festival Gala, while a Pokémon card sold for 114 million RMB. The article compares these events, noting the card category is expanding its consumer base, and analyzes the strategies of Kayou, Suplay, and Hitcard regarding national trend IPs and financing.
Kayou became the first card partner of the Spring Festival Gala, launching the 'Galloping Steed Collection' gift boxes. The Gala distributed cards and announced an online sale, with 20,000 sets selling out instantly.
Mattel's stock fell 25% after its disappointing holiday earnings report, and the company announced the acquisition of the remaining stake in Mattel163 held by NetEase.
New toy brand OHKU achieved nearly 10 million yuan in monthly revenue and over 50% gross margin within a year of founding, securing a 100 million yuan first-round funding in late 2025. With 80% of revenue from overseas markets and 4,000+ sales points globally, it focuses on its own IP 'Fuzzy Monster'.
Sunsunny and Suplay have filed HK IPO applications, joining previously queued companies like Kayou and 52TOYS. Sunsunny ranks first in the affordable 3D IP toy market, while Suplay leads the non-battle card market.
2025年国内非对战式卡牌市场规模达235亿元，同比收缩26.8%。卡游、集卡社等头部品牌热销品数量下滑，但TCG、球星卡及影视综收藏卡等细分赛道表现亮眼，资本与出海布局持续加码。
Sunny submitted a prospectus to the HKEX on January 8, backed by Hillhouse Capital and targeting affordable designer toys priced between 3.9 and 19.9 yuan. Relying on licensed IPs, the company's gross margins are lower than peers like POP MART, and it plans to use IPO funds to strengthen its in-house IP capabilities.
Over 15 major funding events worth hundreds of millions occurred in China's designer toy sector in 2025. Listed companies like Wanda Movie, Tencent Literature, and Quantum Song entered via investment or M&A, while Kaiyuan Network launched AI toys and Yuanlong Yatu expanded retail channels, with Pop Mart seeing significant overseas growth.
POP MART's Q3 2025 revenue grew 245%–250%, while TOP TOY's Q3 revenue increased 111.4% to 575 million yuan. KK Group's IPO attempts failed four times, with cumulative losses of 7.636 billion yuan from 2020 to 2022.
