Labubu meets LVMH: Pop Mart to open flagship store in Paris amid cooling overseas sales

The firm’s overseas revenue share slipped in first half, and Pop Mart is focusing on boosting international growth Chinese collectible toymaker Pop Mart International is pushing forward with global retail expansion amid slowing overseas sales and will open its first European flagship store in Paris’ Boulevard Haussmann, the same street as iconic department stores Galeries Lafayette and Printemps, according to the company. Last week, Pop Mart founder and CEO Wang Ning travelled to Paris ahead of the brand’s coming store opening. While in Paris, Wang met Bernard Arnault, chairman and CEO of LVMH, gifting him a Pop Mart Labubu doll. This follows another high‑profile meeting at Apple’s Cupertino headquarters in July, when Wang met Tim Cook and then‑incoming Apple CEO John Ternus. They discussed creative design, digital ecosystems and global consumer trends, Pop Mart said. Also present at the meeting in Paris were Delphine Arnault, CEO of Dior and Arnault’s eldest daughter, and Pietro Beccari, CEO of Louis Vuitton. “We think the business ties between Pop Mart and LVMH are underpinned by potential collaborations around Pop Mart’s major IPs [intellectual properties],” said Jeff Zhang, an equity analyst at Morningstar.

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