Pop Mart to launch Paris flagship as overseas growth slows
Chinese collectible toymaker Pop Mart will open its first European flagship store on Boulevard Haussmann in Paris. CEO Wang Ning met with LVMH's Bernard Arnault and other executives to discuss potential collaborations. The expansion comes as the company's overseas revenue share declined in the first half.
The flagship will be situated on the same boulevard as major department stores, placing the brand among established luxury retailers. During his visit, Wang presented a Labubu figure to Bernard Arnault and met with Dior's Delphine Arnault and Louis Vuitton's Pietro Beccari, following a July trip to Apple's headquarters where he spoke with Tim Cook and incoming CEO John Ternus.
Morningstar's Jeff Zhang suggests the meeting primarily boosts brand visibility, noting a prior Labubu collaboration with Moynat. He expects further integration of Pop Mart IPs into LVMH's luxury products, though such premium co-branded items may not drastically alter overseas revenue. This push occurs as the company's international revenue share dipped in the first half.
The expansion could signal a growing acceptance of Chinese pop-culture IPs within Western luxury markets, potentially reshaping consumer preferences for collectibles. Shoppers on Boulevard Haussmann may encounter new cross-brand collaborations, while European retailers might face increased competition for discretionary spending. This move may also foster broader cultural exchange, as Chinese brands leverage high-profile partnerships to gain prestige and visibility among affluent international audiences.