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Pop Mart opens Sentosa store as softer China sales weigh on growth
The new two-floor outlet adds its first overseas Pop Bakery concept in Sentosa, as analysts expect revenue growth to slow in 2H 2026 due to a high-base effect.
Pop Mart International is expanding overseas again, opening a new store on Singapore’s Sentosa Island that includes both a stand-alone Pop Mart location and its first overseas Pop Bakery dessert store in the same venue, according to SCMP Economy. The Sentosa site, a two-floor space positioned directly opposite Universal Studios Singapore, places Pop Mart on the ground floor and Pop Bakery upstairs. The move follows softer domestic sales in China and a normalization of demand after Pop Mart’s strong intellectual property cycle in 2025. Analysts cited improved inventory availability as reducing the scarcity-driven foot traffic that helped shape the brand’s identity. Morningstar senior equity analyst Jeff Zhang said the Sentosa store reflects the company’s “future” retail format with mixed-type offerings, and he expects Pop Mart to open more duplexes in the coming years. Zhang also highlighted multiple growth levers beyond toys, including theme park operations, films, games, and licensing income. He expected non-toy revenue to rise to more than 20 percent of revenue by 2030, from 12 percent in 2025, while adding that year-on-year revenue growth is expected to slow further in the second half of 2026 due to the high-base effect from last year.