SEHK:9992Specialty Retail
Is Morgan Stanley Reframing Pop Mart (SEHK:9992) as a Global IP Platform Rather Than a Toy Seller?
Morgan Stanley recently released a research report on Pop Mart International Group, arguing that investors have misread a slowdown in North American sales as weakness rather than a shift from online to offline channels and broader IP diversification.
The report frames Pop Mart as an emerging global IP platform whose overall growth potential may be underappreciated when attention centers too narrowly on US sales and the Labubu line.
Next, we’ll examine how Morgan Stanley’s focus on Pop Mart’s...