Chinese toy company Pop Mart has teamed up with Uniqlo to launch a collection combining one of its most popular IP characters "The Monsters" with the fashion brand's T-shirt.
The collection "We are the Monsters" marks Uniqlo's first time teaming up with a Chinese toy brand. The latest collection comes in various colours for both adults and children. It is available in the US, Canada, Japan, Vietnam, Australia, and China.
"Pop Mart's licensing business continues to upgrade, making breakthroughs from FMCG, food, beauty and other industries to fields such as 3C, clothing, hotels, and virtual products. Through in-depth customised cooperation with top brands, we will continue to promote IP innovation, enhance the commercial value of IP, integrate art toy culture IP into more scenes, and create a more mature and refined business framework," said Yang Jianpeng, licensing director of Pop Mart.
In addition to "The Monsters", various Pop Mart IP figures, such as Molly, Pucky, Dimoo, Skullpanda, Sweet Bean and Bunny, have also collaborated with international brands. Moreover, Pop Mart has carried out cross-border collaborations with many brands, such as Lays, Haagen Dazs, vivo, Paris L'Oreal, and Kiehl's, covering notable brands in FMCG, beauty, daily use and other fields, including the recently launched "Lays x SWEET BEAN" series.
On the other hand, Uniqlo has launched multiple brand collaborations with major pop culture and art icons worldwide, including famous artists and internationally renowned IPs such as Murakami, KAWS, and Marvel. The launch of the "We are the Monsters" collection was the first creative co-branding between Uniqlo and China's art toy brand.
Apart from this collaboration, Pop Mart maintained fast growth of its business and experienced a year-on-year increase of 78.7% in revenue in 2021. Revenue from retail store sales increased by 67% year on year from ¥1.002 billion (US$151.6 million) in 2020 to ¥1.67 billion (US$253 million) in 2021, primarily due to the effective control of the domestic pandemic in 2021 with all retail stores remaining normal operation, while the severe pandemic in early 2020 having a significant impact on retail store sales. There was a net addition of 108 new stores in 2021. As of 31 December 2021, there were a total of 295 retail stores.
Moreover, revenue from online sales increased by 97.4% year-on-year from ¥951.9 million (US$144 million) in 2020 to ¥1,879.2 million (US$284 million) in 2021. Online revenue of Pop Mart was derived from Pop Draw, Tmall flagship store, JD.com flagship store and other online channels.
Advertising and marketing expenses increased by 70.9% from ¥92.2 million (US$14 million) in 2020 to ¥157.6 million (US$23.85 million) in 2021, mainly due to the increase in the promotion of online channels and the planning costs for events such as “6.2” Big Children’s Day.
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