Pop Mart eyes unboxing of new stores, fresh designs in Philippines

MANILA, Philippines — The company behind collectible designer toys in blind boxes such as Labubu and Crybaby, is looking to expand in the Philippines by opening new stores and working with local creatives for new designs.

In a statement yesterday, the Department of Trade and Industry (DTI) said that a delegation from Pop Mart International Group visited the country on April 10 to explore opportunities.

During the visit, Pop Mart International Group vice president Karen Chen presented the company’s plans in the Philippines for this year.

“These plans involve forging partnerships with local business enterprises and expanding their physical presence through new store openings,” the DTI said.

At present, Pop Mart has two pop-up stores in the Philippines located at SM Mall of Asia in Pasay and SM Makati.

Pop Mart also conveyed its strong interest to work with Filipino creatives in developing new intellectual property and original designs.

“Through this creative engagement, Pop Mart seeks to create collectibles that are deeply inspired by the Filipino culture,” the DTI said.

The delegation also met with officials from government offices such as the Board of Investments, Consumer Protection and Advocacy Bureau, Design Center of the Philippines and the Intellectual Property Office of the Philippines, as well as the Philippine Franchise Association.

Facilitated by the DTI’s Philippine Trade and Investment Center in Beijing and the Foreign Trade Service Corps, the meeting focused on discussions on regulatory frameworks, market entry requirements, intellectual property and potential partnership opportunities.

Pop Mart’s plans in the Philippines form part of its aggressive market expansion in Southeast Asia, where it has seen a six-fold increase in revenue given the popularity of its toys and other collectibles.

The expansion also seeks to build on Pop Mart’s strong performance in 2024, as it posted a 106.9-percent jump in revenues (13 billion yuan) and a 185.9-percent surge in net profit (3.4 billion yuan).

Headquartered in Beijing in China, Pop Mart has over 500 stores in more than 30 countries.