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POP MART's New Store in Hangzhou Allegedly Closed Due to Scalping; Company Response: Opening Delayed on Internal Adjustments
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A blind box stock POP MART (09992.HK), the global darling, faces hot demand for its Labubu figures. A Pop Mart branch in Hangzhou, originally dated to open yesterday (15th), announced closure shortly after opening, citing “internal adjustment, with the opening delayed and further notice to be given later”, Chinese news broke. Customers queued for four hours at the store, and once opened, a group of suspected scalpers rushed in to “grab blind boxes” (buying an entire set directly), causing dissatisfaction among other customers, leading to the store’s swift closure, Chinese media quoted on-site customer’s report. Videos circulating online showed many citizens still queuing outside the Pop Mart store, with some holding multiple blind boxes as they leave, sparking dissatisfaction among those waiting in line, while a store employee announced sales had to stop. Another report indicated that the Pop Mart pop-up store in Guangzhou opened, selling new Labubu products, luring a large number of fans and scalpers. The pop-up store required pre-booking entry slots via the Pop Mart mini-program for RMB0.01, with slots selling out almost instantly, forcing those wanting to buy in bulk to purchase entry slots at a premium in the secondary market. AASTOCKS Financial News Website: www.aastocks.com |
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