泡泡玛特一季度公告：整体收益同比增长75%-80% 同日曝出“卖奶茶”

亿邦动力 2026-05-12 18:17

亿邦动力 2026/05/12 18:17

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本文核心公布了潮玩品牌泡泡玛特2026年第一季度的最新业绩，以及其最新的业务拓展动态，主要干货信息如下：

1. 业绩增长数据：泡泡玛特一季度整体收益同比上涨75%-80%，中国区收益同比增长100%-105%，线上渠道增速远高于线下，达到150%-155%，线下增速为75%-80%，海外不同区域也均实现不同幅度的正向增长。

2. 最新业务布局：泡泡玛特推出旗下独立甜品品牌POPBAKERY，目前已经在全国开出21家快闪点位，首家线下直营店即将落地秦皇岛阿那亚，新增茶饮业务，未来还可能推出咖啡产品；此前还跨界推出IP联名限量冷藏箱，开售几分钟就售罄，二手市场价格被炒至9万元。

本文披露了潮玩头部品牌泡泡玛特的最新增长数据和IP运营新方向，能给品牌从业者带来这些干货参考：

1. 当前增长态势：泡泡玛特一季度整体增速达到75%-80%，中国区实现翻倍增长，线上渠道增速远超线下，达到150%-155%，线上已经成为品牌重要增长引擎，海外多区域也实现稳定增长，多区域协同增长效果凸显。

2. IP运营新思路：泡泡玛特没有局限于潮玩单一品类，而是围绕核心IP不断拓展新的表达载体，先后布局乐园、饰品、甜品、积木、小家电多个领域，通过跨界融入消费者日常生活，进一步放大IP价值。

3. 新品类试水方法：拓展新业务时先以快闪模式多区域测试市场，验证后再落地核心直营店，有效降低试错成本。

本文披露了泡泡玛特的最新增长态势和业务拓展方向，能给各类卖家带来这些参考信息：

1. 市场增长机会：当前IP关联品类仍有极高增长空间，泡泡玛特核心业务中国区增速达到100%-105%，线上渠道增速超150%，线上赛道仍有较大增长潜力，围绕成熟IP做品类延伸更容易获得消费者认可。

2. 可借鉴的试错经验：泡泡玛特拓展新品类时，先采用快闪模式多地测试市场反应，验证需求后再落地常设直营店，这种轻资产试错模式非常适合各类卖家拓展新业务时参考。

3. 风险提示：跨界新品类短期内对业绩增量十分有限，不要盲目脱离自身核心优势跨界，泡泡玛特的跨界是基于自有IP的延伸，并非完全转行切入新赛道。

本文呈现了当前IP衍生消费品的市场需求变化，给相关生产工厂带来这些启发和机会：

1. 新产品需求机会：除传统潮玩产品外，头部IP方现在需要更多生活类衍生产品，将其作为IP表达的新载体，甜品周边、小家电等品类需求正在上升，工厂可以针对性开发IP衍生产品线，挖掘新的订单机会。

2. 市场需求特征：限量款IP联名生活产品的市场认可度极高，泡泡玛特首款IP冰箱全球限量不到2000台，开售几分钟就宣告售罄，还引发二手市场炒作，说明消费者对这类产品需求旺盛，工厂可以布局小批量高品质的限量衍生产品生产线。

3. 业务方向启发：工厂可以对接成熟IP方，开发IP联名定制产品，借力IP流量提升产品溢价，打开新的增长空间。

从泡泡玛特的最新动态可以看出IP运营行业的新发展趋势，给相关服务商带来这些干货信息：

1. 行业发展新趋势：头部IP企业已经从单一潮玩品类运营，向多品类全生活场景延伸，围绕核心IP做全场景覆盖已经成为头部IP的发展方向，会催生大量新的服务需求。

2. 客户痛点与新需求：头部IP拓展新品类时，普遍需要先测试市场，目前泡泡玛特的甜品品牌就是先通过全国多地快闪测试市场，服务商可以针对性推出快闪落地运营、多城市点位对接打包服务，匹配IP方的测试需求。

3. 新业务机会：头部IP频繁跨界餐饮、小家电等领域，需要对应的新品类营销、供应链对接服务，服务商可以提前布局这类跨界IP的服务业务，抓住新的增长点。

泡泡玛特的最新业务动态，给各类商业平台带来这些有价值的参考信息：

1. 品牌端需求变化：头部成熟IP品牌正在加速跨界多品类布局，从潮玩延伸到餐饮、小家电等多个领域，需要更多线下点位资源、线上流量资源支持，平台可以针对性推出针对成熟IP跨界业务的扶持政策，吸引这类品牌入驻。

2. 运营优化参考：泡泡玛特拓展新业务采用快闪先行、测试落地的模式，线下商业平台可以规划推出更多灵活的快闪点位资源，既可以吸引品牌试水、提升平台客流，也能降低品牌入场门槛。

3. 风险规避提示：IP衍生限量款产品很容易引发二手市场炒作，平台要注意规范相关交易行为，规避非理性炒作带来的风险，同时也可以打造热门IP产品专属招商专区，吸引流量。

本文披露了潮玩龙头泡泡玛特的最新业绩和业务动向，呈现了潮玩行业发展的新特征，对产业研究者有这些参考价值：

1. 产业发展新动向：当前头部潮玩企业已经走出单纯销售潮玩盲盒的阶段，进入IP全场景价值拓展的新阶段，通过把IP植入不同品类的消费品，拓宽IP的商业价值边界，这是潮玩行业当前最新的发展方向。

2. 行业增长新特征：泡泡玛特一季度实现75%-80%的高速增长，中国区翻倍增长，线上渠道增速远超线下，说明线上已经成为潮玩行业增长的核心动力，同时出海业务也保持稳定增长，出海成为行业重要增长极。

3. 商业模式创新参考：泡泡玛特的跨界并非转行切入新赛道，而是把新品类作为IP表达载体，核心还是围绕IP价值变现，这种轻资产延伸的商业模式，为IP运营行业提供了新的研究样本。

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声明：快读内容全程由AI生成，请注意甄别信息。如您发现问题，请发送邮件至 run@ebrun.com 。

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Quick Summary

This article reveals Pop Mart's latest financial results for the first quarter of 2026 and its new business expansion updates, with key takeaways as follows:

1. Growth performance: Pop Mart posted a 75%-80% year-over-year revenue increase overall in Q1. Revenue in the China market jumped 100%-105% YoY, with online channels outpacing offline significantly, growing 150%-155% YoY compared to 75%-80% for offline. All international markets also delivered positive growth of varying degrees.

2. New business initiatives: Pop Mart has launched POPBAKERY, an independent dessert brand under its umbrella. The new brand now operates 21 pop-up locations across China, with its first permanent brick-and-mortar store set to open in Aranya, Qinhuangdao. Pop Mart has also added ready-to-drink tea to its new product lineup, and may launch coffee offerings in the future. Prior to this, the company rolled out a limited-edition IP-branded insulated cooler that sold out within minutes of launch, with resold units going for as much as 90,000 RMB on the secondary market.

This article discloses the latest growth data and new IP operation directions of leading art toy brand Pop Mart, offering key insights for brand practitioners:

1. Current growth trajectory: Pop Mart delivered 75%-80% overall YoY growth in Q1, with its China business doubling year over year. Online growth hit 150%-155% YoY, far outpacing offline, establishing online as a core growth engine for the brand. All international markets also posted steady growth, highlighting the success of the company's multi-region growth strategy.

2. New approach to IP operation: Rather than limiting itself to the art toy category, Pop Mart continues to expand new expression channels around its core IPs, having entered theme parks, accessories, desserts, building blocks and small home appliances. By integrating IPs into consumers' daily lives through cross-category expansion, the company further amplifies IP value.

3. Test-and-learn for new categories: When expanding into new businesses, Pop Mart first tests the market via pop-ups across multiple locations before opening core permanent stores, which effectively lowers the cost of trial and error.

This article covers Pop Mart's latest growth trajectory and business expansion direction, offering the following key insights for sellers of all types:

1. Market growth opportunities: IP-linked product categories still have substantial room for growth. Pop Mart's core China business grew 100%-105% YoY, with online growth exceeding 150%, proving the online channel still holds major growth potential. Extending product lines around established IPs is far more likely to earn consumer recognition.

2. A replicable low-risk expansion model: When entering new categories, Pop Mart first tests market demand via pop-ups in multiple locations before opening permanent stores. This asset-light trial-and-error model is highly valuable for sellers looking to expand into new business areas.

3. Risk warning: Cross-category expansion delivers very limited near-term revenue gains. Sellers should not abandon their core competencies to pursue blind expansion. Pop Mart's cross-category moves are extensions of its existing IP portfolio, not a full pivot into entirely new industries.

This article outlines current shifts in market demand for IP-derived consumer goods, offering the following insights and opportunities for relevant manufacturing factories:

1. New product demand opportunities: Beyond traditional art toys, leading IP holders are now seeking more lifestyle-derived products as new channels for IP expression. Demand for categories such as IP-branded desserts and small home appliances is rising. Factories can develop targeted IP-derived product lines to tap into new order opportunities.

2. Market demand characteristics: Limited-edition IP-linked lifestyle products enjoy extremely high market acceptance. Pop Mart's first IP-branded refrigerator had a global run of fewer than 2,000 units and sold out within minutes of launch, triggering secondary market speculation. This demonstrates strong consumer demand for this product type, and factories can set up small-batch, high-quality production lines for limited-edition derivative products.

3. Strategic direction insights: Factories can partner with established IP holders to develop custom co-branded products, leverage IP traffic to increase product premiums, and unlock new growth opportunities.

Pop Mart's latest moves reveal new development trends in the IP operation industry, offering the following key insights for relevant service providers:

1. New industry trends: Leading IP companies are shifting from operating only in the art toy category to expanding across multiple categories and full lifestyle scenarios. Full-scene coverage around core IPs has become the core development direction for top IP holders, which will generate substantial new service demand.

2. Client pain points and new demand: When expanding into new categories, leading IP players generally need to test the market first. Pop Mart, for example, launched its dessert brand via pop-up tests across multiple cities in China. Service providers can develop targeted packages covering pop-up operation and multi-location coordination to match IP holders' testing needs.

3. New business opportunities: Leading IP players are increasingly expanding across categories into food and beverage, small home appliances and other sectors, requiring corresponding new-category marketing and supply chain connection services. Service providers can get ahead of the curve by building out service offerings for cross-category IP expansion to capture new growth.

Pop Mart's latest business updates offer valuable insights for all types of commercial platforms:

1. Shifting demand from brands: Mature leading IP brands are accelerating cross-category expansion, moving beyond art toys into food and beverage, small home appliances and other fields. They need increased access to offline location resources and online traffic support. Platforms can roll out targeted support policies for cross-category expansion projects from mature IPs to attract these brands to their platforms.

2. Operational optimization insights: Pop Mart follows a "pop-up first, permanent location later" model for new business expansion. Offline commercial platforms can reserve more flexible pop-up location resources, which not only attract brands to test new concepts and boost platform foot traffic, but also lower the barrier to entry for participating brands.

3. Risk mitigation: Limited-edition IP-derived products are highly prone to speculation on secondary markets. Platforms should regulate relevant trading activity to avoid risks from irrational speculation. At the same time, platforms can build dedicated sourcing zones for popular IP products to drive traffic.

This article discloses the latest financial performance and business moves of art toy industry leader Pop Mart, outlines new characteristics shaping the art toy sector, and offers the following reference value for industry researchers:

1. New industry development trajectory: Leading art toy companies have moved beyond the stage of simply selling blind box art toys, and entered a new phase of full-scene IP value expansion. By integrating IPs into consumer goods across multiple categories, companies are expanding the commercial value boundaries of their IPs, which represents the latest development direction for the art toy industry.

2. New industry growth characteristics: Pop Mart delivered 75%-80% high-speed growth in Q1, with its China business doubling year over year. Online growth far outpaced offline, confirming online has become the core growth driver for the art toy industry. Meanwhile, the company's overseas business maintained steady growth, establishing global expansion as a key growth pole for the industry.

3. A new case for business model innovation: Pop Mart's cross-category expansion is not a full industry pivot, but rather uses new categories as IP expression vehicles, with core monetization still centered on IP value. This asset-light extension model provides a new research sample for the IP operation industry.

Disclaimer: The "Quick Summary" content is entirely generated by AI. Please exercise discretion when interpreting the information. For issues or corrections, please email run@ebrun.com .

I am a Brand Seller Factory Service Provider Marketplace Seller Researcher Read it again.

【亿邦原创】5月12日，泡泡玛特（9992.HK）发布2025年第一季度最新业务状况公告，2026第一季度整体收益(未经审核)，较2025年第一季度同比增长75%-80%，其中，中国收益同比增长100%-105%，亚太同比增长25%-30%，美洲同比增长55%-60%，以及欧洲及其他地区同比增长60%-65%。

在中国各渠道的收益（未经审核）方面，2026年第一季度，线下渠道同比增长75%-80%，线上渠道同比增长150%-155%。

同日，据媒体报道，泡泡玛特旗下甜品品牌POPBAKERY首家线下店即将落户秦皇岛阿那亚，该店将集甜品茶饮于一体，但核心业务以甜品为主。

此前，有消息人士称泡泡玛特旗下甜品品牌POPBAKERY首家直营店即将落地于秦皇岛阿那亚。与以往不同的是，该门店首次增设了茶饮产品。未来，泡泡玛特或将进一步推出自营茶饮与咖啡产品。

据悉，POP BAKERY是泡泡玛特旗下的独立甜品品牌，自今年2月起，陆续以快闪形式落地青岛、成都、西安、深圳、武汉的等地。截至5月11日，在全国已经拥有21家主题甜品快闪点位。

值得关注的是，前不久，泡泡玛特还跨界到小家电领域。2026年4月30日，泡泡玛特首款家电产品——THE MONSTERS生活家系列冷藏箱（下称LABUBU冰箱）正式开售。两个版本、全球各限量999台，定价5999元，开售几分钟即告售罄。而在开售前，这款容积仅121升的迷你冰箱，二手平台报价一度被炒至9万元。

对此，一位接近泡泡玛特的知情人士称，泡泡玛特并非传统意义上进军家电行业，而是将小冰箱等作为承载IP表达的全新载体。从过往乐园、饰品、甜品、积木等业务路径来看，泡泡玛特对新业务的探索是为了进一步拓宽IP的创新表达，让泡泡玛特能以更丰富的形态陪伴融入消费者日常生活。他表示：“从业绩的角度来看，太早期了，短期内对业绩增量不会有太大影响。”

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