Core Insights - The recent collaboration between Tong Shifu and the IP "Nezha 2" has sparked significant interest, with 10 licensed products announced, covering various price points [1] - Despite frequent collaborations, Tong Shifu's revenue growth has been slow, with licensed IP income contributing only about 10% to total revenue over the past three years [3][9] - Tong Shifu, established in 2013, has quickly gained market share in the copper cultural craft market, holding a 35% share as of 2024, but operates in a niche market with a total size of only 1.6 billion yuan [4] Company Overview - Tong Shifu entered the derivative market in 2017 and has since engaged in over 30 IP collaborations, including both domestic cultural IPs and popular international franchises [3][9] - The brand primarily targets male consumers aged 30-35, with an average transaction value exceeding 750 yuan [4] - The company's flagship store on Tmall shows that original products, particularly the "Great Sage" and "Copper Gourd" series, are the best sellers, generating significant revenue [6] Market Position - The copper cultural craft market is relatively small compared to the broader metal cultural craft market, which is dominated by gold products [4] - Despite the brand's efforts to expand through IP collaborations, many licensed products have underperformed in sales compared to original offerings [7][11] - The founder of Tong Shifu has acknowledged the challenges in monetizing IP collaborations, emphasizing the importance of brand visibility over direct sales [11] Product Strategy - Recent collaborations with well-known IPs like "Nezha 2" are seen as more aligned with the brand's identity, potentially attracting a younger consumer base [25][28] - The company has faced criticism for the design of some licensed products, which have been perceived as lacking coherence with the original IPs [15][22] - Future product launches are expected to focus on designs that resonate more with consumer expectations and the brand's traditional craftsmanship [28]
雷军押注的小众文创，为何在IP衍生品市场掀不起浪？
3 6 Ke·2025-05-29 11:40