Pop Mart buys its UK retail partner Mogic 

(Source: Pop Mart)

Chinese collectible toys brand Pop Mart has acquired UK-based retailing company Mogic for an undisclosed sum as part of its plan to strengthen its presence in the European market. 

“With Mogic’s capability in the local marketplace, Pop Mart plans to enhance its product range and customer experience with new and innovative collectible experience,” the brand said in a statement. 

Pop Mart entered the UK early last year with Mogic as its partner and opened its first store in Shaftesbury Avenue, central London. The launch also marked the Chinese brand’s debut in greater Europe. 

The company said the acquisition of Mogic aligns with its DTC strategy, which focuses on the direct shopping experience and gathering insights from customer habits. The brand also plans to diversify its market channels and restructure its approach to the UK and Ireland. 

“The restructuring plan is multi-dimensional, including a thorough assessment of sustainability amidst recent inflationary pressure and other unfavourable [conditions],” it said. 

In February, Pop Mart expanded its footprint into its second European market France, introducing its first location inside the Westfield Forum des Halles shopping mall.

The brand also recently expanded in Malaysia with the first store opened inside the Pavillion Kuala Lumpur shopping mall on Jalan Bukit Bintang, two years after its foray into the market via an e-commerce platform.

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