Pop Mart’s Aggressive US Expansion: Over 20 New Stores Set to Boost Presence in American Malls

Pop Mart, renowned for producing the popular Labubu figures, is set to expand its presence in the United States. This decision has been well-received by the corporation’s shareholders.

Pop Mart has unveiled an ambitious plan to inaugurate more than 20 new outlets across malls in the United States. The company intends to join forces with Simon Property Group to realize this expansion. With the completion of this initiative, Pop Mart’s total outlets in the U.S. and Canada will exceed 60.

Pop Mart marked its initial foray into the U.S. market by launching its first store in the American Dream Mall, New Jersey, in September 2023. By 2024, the firm had expressed intentions to manage as many as 200 stores within the region.

The company observed a decline in its share price from its peak in August. However, the announcement of the U.S. expansion and subsequent investment brought about a significant turnaround. The company’s shares noticed a single-day increase of 10% – marking the most substantial growth since August 20.

The first half of the previous year saw a dramatic 1142% year-on-year revenue increase in the U.S., amounting to US$315 million. This figure considerably surpassed the 135% growth recorded in China during the corresponding period.