The company's business is strongly driven by its IP. Pop Mart operates 81 IPs, including 12 proprietary IPs. It also concentrates on its revenue from its iconic IPs.
The company is currently revising its retail plans in China as the market is rapidly changing but it will retain a mix of formats including hyper stores, pickup points, experience centers, distribution centers and e-commerce platforms, said Kuliga.
The company will replace the defective reflectors free of charge.
The company is banking on online paid knowledge services and will increase investments through offering online lessons related to pregnancy, childbirth and parenting to help mothers eradicate anxiety, said Chu Yang, vice-president of Dingxiangyuan and founder of Dingxiang Doctor and Dingxiang Mama.
The company said it will invest 700 million yuan (0.6 million) in its China Growth Program, aiming to inject new momentum into its Chinese business development.
The company went on record as saying that 74 out of its 112 stores in the country were ordered to close because of fire safety violations, and the 13 other outlets settled on suspending business at their own discretion.
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The company is planning to open new routes from Wuhan to Ukraine, Turkey and Iran.
The company will sell herbal tea in cans specially tailored for the program, among other measures, such as appointing young celebrities Zhou Dongyu and Liu Haoran as its image ambassadors, to increase the brand's appeal to young consumers.
The company said that the new investments will bring the count of such offshore centers to eight, adding to existing facilities in Hong Kong, Singapore and Toronto.
The company will also do underwater tunnels, in addition to its underground tunnels business, Musk said.