OHKU单月营收近千万，中国潮玩奇袭欧美市场

Core Insights - A number of Chinese brands, including the emerging brand OHKU, are successfully penetrating the high-end markets in Europe and North America, diverging from the trend of focusing on Southeast Asia [1][2] - OHKU achieved nearly 10 million yuan in monthly revenue within its first year, with over 80% of its income coming from the European and American markets [1] - The leading player, Pop Mart, reported a staggering year-on-year revenue growth of 1265%-1270% in the Americas and 735%-740% in Europe and other regions for Q3 2025, indicating that these markets are becoming new growth engines for Chinese toy brands [1] Strategic Approach - OHKU's strategy involves a differentiated approach by targeting North America and Europe directly, avoiding the saturated Southeast Asian market [2] - The North American toy consumption per capita is 12.1 times that of China, while Europe is 4.6 times higher, showcasing the vast market potential [2] - OHKU employs a "direct sales + distribution" light asset model, balancing brand control and expansion speed, which is key to its success [2] Channel Strategy - OHKU utilizes a "1+N" channel strategy, starting with flagship stores to drive regional networks, establishing over 800 sales points in the U.S. alone [4] - The company has built a global sales network with over 3000 terminal points, including more than 2500 overseas sales points covering core markets in Europe and North America [4] - OHKU has developed a comprehensive online and offline sales system in China [4] Product Development and Localization - OHKU's flagship IP "Fluffy Monster" has shown strong sales performance, with expectations of annual sales exceeding 100 million yuan [6] - The company has over 28 IPs in its portfolio, including key IPs like Fluffy Monster, DREAM BOY, and MOI, indicating a robust IP incubation capability [6] - OHKU's localization strategy involves deep integration into local markets through the establishment of local teams and participation in global industry events [8] Industry Growth and Competition - The global toy industry is projected to exceed $15 billion (approximately 1000-1100 billion yuan) by 2027, indicating a significant growth phase for the industry [9] - The competition is evolving from "shelf space" to "mind share," with brands increasingly focusing on direct consumer engagement through events and user-generated content [10] - Pop Mart reported overseas revenue of 5.59 billion yuan in the first half of 2025, a 440% year-on-year increase, with a gross margin of 70.3% [10] Future Outlook - OHKU plans to accelerate store openings globally, focusing on key cities in Europe, North America, and the Asia-Pacific region [12] - The next few years will be crucial for Chinese toy brands to transition from "hot sales" to "sustained success" in the global market [12]