Pop Mart — Distribution Channels: D2C vs. Wholesale

Annual net revenue a brand generated through the sales of physical goods to private end customers.

• D2C: US$4,985m

  Annual net revenue a brand generated both online and offline through the B2C sales of physical goods via direct-to-consumer channels associated with the brand (e.g., Apple selling via apple.com or its offline Apple Stores).

  • D2C Online: US$2,305m

    Annual net revenue a brand generated online through the B2C sales of physical goods via direct-to-consumer channels associated with the brand, i.e. its own online stores operated by the brand itself as well as its stores on marketplaces (e.g., Apple selling via apple.com or Apple selling via the Apple brand storefront on amazon.com).

    • Brand Revenue – D2C Online via Own Store: US$1,183m

      Annual net revenue a brand generated online through the B2C sales of physical goods via its own direct-to-consumer online stores operated by the brand itself (e.g., Apple selling via apple.com).

    • Brand Revenue – D2C Online via Third-Party’s Store: US$1,123m

      Annual net revenue a brand generated online through the B2C sales of physical goods via its own official brand storefronts hosted on third-party marketplaces, where the brand itself remains the seller (e.g., Samsung selling through its official brand store on amazon.com or tmall.com).

  • D2C Offline: US$2,680m

    Annual net revenue a brand generated offline through the B2C sales of physical goods via direct-to-consumer brick-and-mortar stores associated with the brand (e.g., Apple selling via its offline Apple Stores).

• Wholesale: US$197m

  Annual net revenue a brand generated by selling its physical goods to retailers which then sell the goods both online and offline to B2C end customers (e.g., the brand Samsung selling products to the retailer Walmart).

  • Wholesale Online: US$108m

    Annual net revenue a brand generated by selling its physical goods to retailers which then sell the goods online to B2C end customers (e.g., the brand Samsung selling products to the retailer Walmart which then sells them via walmart.com).

  • Wholesale Offline: US$89m

    Annual net revenue a brand generated by selling its physical goods to retailers which then sell the goods offline to B2C end customers (e.g., the brand Samsung selling products to the retailer Walmart which then sells them via its brick-and-mortar stores).