BEIJING, July 29 — Pop Mart, the Beijing-based maker of collectible ‘blind box’ toys including the toothy-grinned Labubu, has expanded beyond toys by opening its first international bakery in Singapore.
The company has transformed its best-known characters into edible creations, offering treats such as black sesame Labubu popsicles and Molly double cheesecake.
Located opposite Universal Studios Singapore, the two-storey bakery sells 45 toy-inspired pastries and beverages priced from S$5 (about RM16.55) to S$32 (about RM105.90).
Singapore is the first stop in the company's international bakery expansion.
"We're also considering opening bakeries in Europe and the United States. It's a matter of timing, and we need to address issues like local supply chains," Pop Bakery head Zhang Xiaoyang said in an interview.
He added that Pop Mart also plans to open dessert shops across Southeast Asia, including Malaysia, Thailand, and Indonesia.
The Singapore outlet follows the launch of Pop Mart's first bakery in the northern Chinese coastal city of Qinhuangdao in April, after the company tested the concept through more than 30 dessert truck pop-up events across China.
The expansion comes as the company faces rising production costs, while analysts have questioned the long-term sustainability of its business model after sales and earnings growth fell short of expectations in recent quarters.
"Pop Bakery is a great diversification tool because there's only so much a toy company can do, and they've probably hit the ceiling with toy manufacturing," said Laura Pan, a lecturer at SDA Bocconi School of Management.
However, she said it remains to be seen how well Pop Mart's bakeries would perform in the US, given signs that the Labubu craze is beginning to lose momentum.
Following global demand for its plush toys, bag charms and collectibles, Pop Mart has increasingly diversified beyond toy sales and said it aims to emulate entertainment giant Disney by turning short-term popularity into long-term brand success.
Earlier this year, the company announced a partnership with Sony Pictures to develop a Labubu film and opened an expansion of its Pop Land theme park in Beijing.
"We hope to use our intellectual property to accompany all aspects of consumers' lives, and desserts are one of them," Zhang said.
He added that Pop Mart prides itself on creating edible, three-dimensional versions of its characters, unlike other entertainment companies that typically use flat designs or plastic decorations on pastries.
