泡泡玛特王宁谈公司转折点：“塞翁失马焉知非福”

Core Insights - The founder of Pop Mart, Wang Ning, discussed a pivotal moment for the company when the Japanese toy brand Sonny Angel, which accounted for 30% of their sales, refused to grant distribution rights [1][2] - Wang Ning noted that this refusal forced the company to rethink its strategy and reduce reliance on Sonny Angel, which eventually decreased its contribution to sales to 10%, then 5%, and ultimately to 0% [1][2] - This situation led the company to explore new opportunities, resulting in the signing of a new artist, which contributed to the creation of the Molly brand [1][2] Company Strategy - The initial reliance on Sonny Angel was significant, making up 30% of the sales system at the time of the first store opening in Shanghai [1][2] - The inability to secure distribution rights from Sonny Angel prompted the company to make strategic reductions in its product offerings [1][2] - The transition away from Sonny Angel has allowed the company to innovate and expand its product line, exemplified by the introduction of the Molly brand [1][2]