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Retail and Ecommerce Market, News, Insights in Asia

POP MART opens another store in Brisbane, expanding business in the City of Olympics 2032

POP MART opens another store in Brisbane, expanding business in the City of Olympics 2032

BEIJING, Nov. 2, 2023 /PRNewswire/ — On 27 September, POP MART opened its second Brisbane store at Westfield Mt Gravatt, which is also the largest POP MART store by far in Australia. After opening the Indooroopilly Store in July, POP MART tapped into the “Sunshine City” once again.

POP MART’s second Brisbane store at Westfield Mt Gravatt

As the third largest city in Australia, Brisbane is located on the south of Sunshine Coast and the north of the international tourist attraction Gold Coast. With an annual sunshine time of 7.5 hours on average, Brisbane is known as the “Sunshine City”. The 2032 Summer Olympics will also be hosted in Brisbane, and this city is under intensive infrastructure construction with up to AUD 19 billion investment. This is expected to further enhance Brisbane’s urban environment and make Brisbane a leading premium tourist destination in the world. Because of Brisbane’s business potential, POP MART has opened two stores in Brisbane in just three months.
Westfield Mt Gravatt, the shopping mall where the new store is located, is in the south of Brisbane and about 12 kilometers from CBD. It is one of the major local shopping malls in Brisbane, with over 470 brands including supermarkets, restaurants, cinemas, and other entertainment facilities.
At the entrance of Mt Gravatt Store, you can see the photoshoot site of the giant DIMOO statue, which is decorated with floor-to-ceiling glass windows. The jungle-like setting is full of Australian styles. The store has also set up a decorative wall inside, featuring The Monsters Family including LABUBU, ZIMOMO, TYCOCO… These familiar and mischievous characters are welcoming customers into this “fairy forest”.
A wide range of popular POP MART limited-edition art toys were displayed and sold at Mt Gravatt. The opening day of 27 September welcomed the return of PUCKY the Ghost – Sparkle Pink and A Boy – Mint. More limited-edition products joined the grand celebration on 30 September, including SKULLPANDA Dark Maid, LABUBU Shepherd, and Ice Erosion Molly “Prisma”. The Brisbane-limited ZIMOMO Sunny Figurine made its debut, hoping to bring fun and surprises to local fans.

Westfield Mt Gravatt

As China’s leading pop culture and entertainment company, POP MART started its business in Australia in 2021. In August 2022, with the first Australian store opened in Melbourne, POP MART was pursued and loved by young Australian consumer groups.
This year, POP MART has opened three physical stores in Sydney. So far, POP MART has eight physical stores, 16 Robo Shops, and one e-commerce channel in Australia. Shared by the business director of POP MART Australia, POP MART will continue its development in Australia, communicate with consumers from different cultural backgrounds, and create more artistic and cultural interactions.
The continuous global expansion plays an important role in boosting sales. The Company’s 2023 semi-annual report shows that POP MART’s business outside the Chinese Mainland has maintained fast growth. In the first half of 2023, the revenues generated in Hong Kong, Macao, Taiwan, and other countries was RMB 376 million with a year-on-year growth of 139.8%, and it has achieved an operation profit of RMB 78.89 million.
At the 2023 semi-annual report performance briefing, Wang Ning, Chairman and CEO of POP MART, said that POP MART is expected to harvest RMB 1 billion in revenue outside the Chinese Mainland. He is confident that it will exceed the entire group’s pre-IPO revenue in 2019 next year as if another successful story of POP MART is replicated overseas.

Autohome Inc. Announces 2023 Q3 Earnings: Fifth Straight Quarter of YoY Growth in Top and Bottom Lines

Autohome Inc. Announces 2023 Q3 Earnings: Fifth Straight Quarter of YoY Growth in Top and Bottom Lines

Data Products and New Energy Business Maintain Strong Momentum, Exploration of Synergies Within Diverse Ecosystem Continues
HONG KONG, Nov. 2, 2023 /PRNewswire/ — Autohome Inc. (NYSE: ATHM; HKEX: 2518) (“Autohome” or the “Company”), the leading online destination for automobile consumers in China, today announced its third quarter financial results for 2023. The Company delivered steady revenue and profit growth during the quarter, with net revenue increasing by 3.4% year-over-year to RMB1.91 billion and the adjusted net income attributable to Autohome was RMB604 million. This marks the fifth straight quarter of top- and bottom-line growth on a year-over-year basis, with the adjusted net margin reaching a high level of 31.7%.

During the period, revenue from the online marketplace and others business increased 25.2% year-over-year, accounting for 31.4% of total revenue. This led the Company’s overall growth and further optimized its revenue structure. Among them, data products generated strong growth momentum, with year-on-year revenue growth of more than 30%. At the same time, the Company made substantial progress in deepening its collaborative efforts with new energy vehicle (“NEV”) automakers. Revenue from NEV brands was up by nearly 70% year-over-year as a result.
Mr. Quan Long, Chairman and Chief Executive Officer of Autohome, said, “Year to date, the domestic automobile industry has rebounded significantly and will continue to improve in the future. At the same time, the rapid rise of NEVs has accelerated the transformation and upgrading of the automotive industry. In this new market environment, Autohome is focused on capitalizing on the major opportunities NEVs and digitalization present, supporting our partners in the transformation of their businesses, and broadening the services we have on offer. This will ultimately create a one-stop ecosystem that spans the entire consumer cycle – from the research and purchase phase through to the use and exchange of cars – to drive long-term sustainable growth.”
Improvement of content ecosystem construction, exploration of diverse business lines integration, and user traffic hitting new highs
In terms of business segments, Autohome accelerated the build out of its content ecosystem to further widen the platform moat, where its user traffic reached a new high. According to QuestMobile, in September, Autohome’s mobile daily active users (“DAUs”) increased 39.3% year-over-year to 69.01 million, underscoring its ability to steadily strengthen its leadership position in the automotive media vertical. In the field of innovative business, the Company continues to explore new ways to develop, integrate, and create synergies between the diverse business models across its ecosystem. In addition, the Company also upgraded the foundational infrastructure and capabilities of its digital platform to enhance the value of its data products and seamlessly integrate big data and cutting-edge technologies to power the digital transformation of dealers.
Upgrade of new retail model, revenue from NEV brands soared year-over-year
In the field of NEV, Autohome launched its first brick-and-mortar NEV experience store last September. The Autohome Energy Space franchise stores recently launched in cooperation with TTP in Chengdu Station and Chongqing have presented the opportunity to further refine the “new retail + used cars” business model and drive further business development.
Autohome’s new retail business has entered a stage of rapid development, and new retail stores have been opened in four cities: Shanghai, Haikou, Chengdu, and Chongqing. In addition, the construction of new retail stores in 13 cities has already begun, including in Beijing and Guangzhou, with more than 20 stores in various cities to be opened by the end of this year. Meanwhile, the Company is also expanding cooperation with NEV automakers. In the future, the Company will rapidly increase the penetration of Autohome Energy Space franchise stores across the country, allowing Autohome to turn its online advantages into offline business across a broad range of markets. TTP will also leverage the Autohome Energy Space network to accelerate the expansion of its operations nationwide.
About AutohomeAutohome Inc. (NYSE: ATHM; HKEX: 2518) is the leading online destination for automobile consumers in China. According to QuestMobile, in September 2023, the mobile DAUs reached 69.01 million with an increase of 39.3% year-over-year. Its mission is to engage, educate and inform consumers about everything auto. Autohome provides occupationally generated content, professionally generated content, user-generated content, and AI-generated content, a comprehensive automobile library, and extensive automobile listing information to automobile consumers, covering the entire car purchase and ownership cycle. The ability to reach a large and engaged user base of automobile consumers has made Autohome a preferred platform for automakers and dealers to conduct their advertising campaigns. Further, the Company’s dealer subscription and advertising services allow dealers to market their inventory and services through Autohome’s platform, extending the reach of their physical showrooms to potentially millions of internet users in China and generating sales leads for them. The Company offers sales leads, data analysis, and marketing services to assist automakers and dealers with improving their efficiency and facilitating transactions. Autohome operates its “Autohome Mall,” a full-service online transaction platform, to facilitate transactions for automakers and dealers. Further, through its websites and mobile applications, it also provides other value-added services, including auto financing, auto insurance, used car transactions, and aftermarket services.
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Acer Announces Q3 2023 Net Income at NT$2.01 Billion, up 44.2% Quarter-on-quarter

Acer Announces Q3 2023 Net Income at NT$2.01 Billion, up 44.2% Quarter-on-quarter

Margins for gross profit, operating income, and net income all grow both year-on-year and quarter-on-quarter
TAIPEI, Nov. 2, 2023 /PRNewswire/ — Acer Inc. (TWSE: 2353) announced its financial results for the third quarter of 2023: consolidated revenues were NT$67.44 billion with 15.8% growth quarter-on-quarter (QoQ) and 3.9% growth year-on-year (YoY); gross profits reached NT$7.29 billion with 10.8% margin, higher than both the previous quarter and the same period last year; operating income was NT$1.55 billion, up 47.8% QoQ and 86.6% YoY, with 2.3% margin; net income[1] was NT$2.01 billion, up 44.2% QoQ and 7.0% YoY; and earnings per share was NT$0.67.

In the third quarter, businesses other than computers and displays contributed 24.2% of total revenues, and 30.0% of operating income. For year-to-quarter, businesses other than computers and displays contributed 27.2% of total revenues and 49.7% of operating income.
Acer Group’s revenue and profit have reached a new high after the pandemic. Due to new business expansion and contributions, along with the optimization of the computers and displays business, the revenue and profit are also better than pre-pandemic levels.

[1] Net income is reported as profit-after-tax in Acer’s financial statements

About Acer
Founded in 1976, Acer is one of the world’s top ICT companies with a presence in more than 160 countries. As Acer evolves with the industry and changing lifestyles, it is focused on enabling a world where hardware, software and services will fuse with one another, creating ecosystems and opening up new possibilities for consumers and businesses alike. Acer’s 7,700 employees are dedicated to the research, design, marketing, sale, and support of products and solutions that break barriers between people and technology. Please visit for more information.
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