Pop Mart eyes bigger footprint worldwide

Pop Mart International Group Ltd expects annual revenue to reach 20 billion yuan ($2.75 billion) in 2025, reflecting a 50 percent year-on-year rise, and anticipates growth in overseas markets to exceed 10 billion yuan as the company pushes to become a global cultural and consumer brand, its top executive said.

The company said on Wednesday it had posted a strong performance for 2024, with revenue up 106.9 percent to 13 billion yuan and net profit surging 185.9 percent to 3.4 billion yuan. The growth last year was fueled by its plush toy category and overseas market expansion.

"The global attention and affection we have garnered make it possible for us to become a world-class cultural and consumer brand," Wang Ning, chairman of Pop Mart, said during the company's annual results announcement.