Pop Mart International is seeing exponential growth in its international business, with a 135% increase in 2023 and >100% growth expected in 2024, trading at 24x 2024 earnings.
Boomeranged on Tue, 23 Apr 2024 09:00
Pop Mart announced the 1Q24 operational update yesterday after market close. Sales grew 40-45% yoy in the quarter, as domestic China sales grew 20-25% yoy and international sales surged 245-250% yoy. Note that the growth is on a normal base and the growth is well above management's guidance of >30% for the full year 2024.
SUMMARY
(Sign Up to Access)
Get started on the Smartkarma Research Network with a complimentary Preview Pass to:
Unlock all research summaries
Follow top, independent analysts
Receive personalised alerts and emails
Access Briefings, Analytics, and Events
Upgrade anytime to our paid plans for full-length research, real-time analyst discussions, and more.
Join a thriving community of 45,000+ investors, including the top global asset managers managing over $13trn in assets.