Core Viewpoint - The company has established a strategic partnership with Bandai Namco, leading to significant expansions in retail and IP collaboration, particularly in the collectible toy market [1]. Group 1: Strategic Partnerships and Expansions - The company announced a deep strategic cooperation with Bandai Namco, leveraging the success of the Gundam pop-up store in Changsha in April 2024 [1]. - In December 2024, the company obtained distribution rights for Bandai Namco's Gundam base and related merchandise, opening the first Gundam base in Jiangsu [1]. - The company plans to open China's first Bandai model store in March 2025, featuring popular IPs such as Gundam, Pokémon, and Doraemon [1]. Group 2: Business Performance and Growth Strategy - The company achieved a breakthrough in cross-industry collaboration in 2024, expanding into the trendy toy consumption sector [1]. - The company will implement a dual-track expansion strategy focusing on "core regional cities + key business districts," with initial plans to enter high-quality commercial spaces in Changsha [1]. - Over the next three years, the company aims to expand its national presence at a rate of 3-5 new stores annually, enhancing store profitability through digital operations and limited product strategies [1]. Group 3: Revenue Performance of Gundam Base Stores - The Suzhou Gundam base store, which opened in December 2024, has exceeded expectations in its first five months of operation [2]. - The store achieved industry benchmark levels in single-store sales efficiency and demonstrated high member repurchase rates, indicating strong IP loyalty [2]. - The store has already reached profitability in its first quarter of operation [2].

Core Insights - The collaboration between Starbucks and Mayday demonstrates the band's strong market appeal and ability to generate revenue through diverse commercial ventures [1][2] - The limited edition products, such as the "Star Cup," sold out quickly, indicating high demand and the effectiveness of IP crossovers in enhancing consumer product value [1][3] - The phenomenon of fans engaging in intense purchasing behavior reflects the growing trend of fan economy and the commercialization of celebrity brands [2][6] Group 1: Product Launch and Sales Performance - Mayday's collaboration with Starbucks includes a range of products like glass cups and thermos bottles, with prices set at 199 yuan and 249 yuan respectively, all of which sold out on the first day [1][3] - The resale market for these products has seen significant price increases, with original prices nearly doubling on second-hand platforms [2][3] - The STAYREAL brand, co-founded by Mayday's lead singer, has seen substantial sales growth, with popular items like carrot-themed merchandise generating over 21.88 million yuan in revenue [5] Group 2: Fan Engagement and Cultural Impact - Fans have adopted a unique symbol, the carrot, as a means of identification and community among Mayday supporters, showcasing the cultural significance of the band [3][7] - The integration of merchandise into everyday life reflects a shift in consumer behavior, where emotional connections to brands drive purchasing decisions [7] - The establishment of STAYREAL pop-up stores during concert tours has created a ritualistic experience for fans, further solidifying the brand's presence in the fan economy [6] Group 3: Broader Industry Trends - The rise of concert-related revenue streams highlights a shift from traditional ticket sales to a comprehensive consumption ecosystem, including merchandise and food services [5][6] - The success of celebrity brands like STAYREAL contrasts with other celebrity ventures that have struggled, emphasizing the importance of quality and consumer perception in brand longevity [6] - The evolution of fan economy indicates a transition towards a model where content and emotional engagement are key drivers of consumer behavior [7]