TOP TOY Begins its Adventure in Thailand and Indonesia | ENGLISH
The popularity of toy brands among Southeast Asian youth has surged in recent years. This trend is shown by the recent Labubu craze in Indonesia, which sparked heated discussions on social media. Even weeks after its grand opening, the Pop Mart store remains crowded, with customers lining up from 4 am. As of now, there are few brands that stand out in this category, including TOP TOY.
Recently, the brand entered Indonesia through a shop-in-shop format inside Miniso Land Central Park. This collaboration allows TOP TOY to test the market before going further. TOP TOY also plans to open its first store in Thailand.
In addition, TOPTOY is set to launch its first store in Thailand at The Mall Lifestore Bangkapi around October/November 2024. This marks a strategic move for the brand as it aims to capture more opportunity outside China. TOP TOY also plans to open in Mega Bangna and Central Ladprao (เซ็นทรัล ลาดพร้าว).
For those who don't know, TOP TOY was established as a spin-off brand by the Miniso Group in late 2021. The brand offers a wide range of collectible toys and merchandise. Similar to its sister brand, TOP TOY also use intellectual properties (IP) from various companies as their main power. As of July 2024, the brand has 195 stores across China.[1]
TOP TOY store in China - Source: TOP TOY
52TOYS, a Chinese toy brand established in 2015, is poised to accelerate its growth in Southeast Asia. The brand has garnered positive feedback in Thailand and intends to capitalize on the region's growing demand.
Meanwhile, Pop Mart is also accelerating its store expansion in Indonesia and Thailand. In Indonesia, the company plans to open new stores in Kota Kasablanka and Senayan City.
REFERENCES
[1] - https://filecache.investorroom.com/mr5ir_miniso/322/MINISO%202024%20First%20Half%20Year%20Prensentation.pdf
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