The Chinese toy store “Kidsland” will be focusing more on delivering toys targeted for adult or “Kiddults” in order to make up for the slump created by the Corona pandemic, The Arkansas Democrat Gazette writes.
Kidsland is one of the largest Lego distributers in China and has ties with the Lego brand leading all the way back to Legos beginning encounter with the Chinese market in 2001. But due to the Corona epidemic’s big cut on the Kidsland company’s revenue the store is now betting on the so-called Pop Toys marked, which is collectible toy figurines that are more appealing to the adult consumers. In July the company opened the first of its “kkplus” stores in Hong Kong selling products like “Garfield” or “Tom and Jerry” figurines.
The assistant chief executive officer and chief financial officer of Kidsland, Sherman Hung, is very optimistic about the pop toys market, as he says “We believe in three to five years, the ‘kidult’ market will be as big as the traditional toy market, making it appealing for us to address”
Kidsland is now also planning to open new kkplus stores in the mainland of China.
“We’ve already been talking with different partners in mainland China, with Beijing, Shanghai, Guangzhou and Shenzhen being our primary targets,” Sherman Hung says.
The Chinese toy market is on its way to becoming the largest in the world by 2022, by that time passing the U.S.’s $25 billion industry, according to Bloomberg Intelligence. One of the tendencies of this growing market is the emerging pop toy categories. Different companies have already started selling collectibles, and today the Chinese market for designer toy collectibles is valued at $6 billion by the analysis firm iiMedia Research.