Moncler has become the first luxury brand to partner with POP MART’s MEGA COLLECTION. On January 1, the Italian house announced its partnership with China’s leading figurine brand POP MART via a teaser on Weibo.
This partnership, which features the MEGA COLLECTION 1000% SPACE MOLLY × MONCLER and is limited to 2000 collectibles worldwide, has built hype among local art toy collectors. The release raffle of 300 collectibles was available for sign-up between January 14 and 18 on Moncler’s official WeChat Mini Program.
Moncler has recorded high growth in China in the post-pandemic era, thanks to its reimagined product design and localized marketing and communication strategies. According to Moncler Group’s financial results over the first nine months of 2021, brand revenue in the Chinese Mainland doubled in Q3 2021 compared to the same period in 2019.
Along with its Genius collections, this latest initiative of tapping into the collectibles trend should continue to grow Moncler’s business in China. To understand the brand’s big-picture strategy in the Chinese market, Jing Daily looked at the details of this first-ever collaboration between the top luxury and collectible markets and why it appeals to today’s younger generations.
What is the POP MART MEGA COLLECTION?
As a leading company in China’s collectibles industry, POP MART has abundant IP resources from popular ACG (Anime, Comics, and Games) content, high-quality supply chains, and advanced online and offline channels. This unicorn has successfully grown the artistic trend of toy collecting (beloved by Gen-Z consumers), thanks to affordable “blind boxes” containing small, cartoon-style figurines.
However, POP MART’s vision goes far beyond the accessibly-priced segment. In June 2021, the company launched its first 1000% SPACE MOLLY, which marked its first foray into the high-end collectibles market. With prices $629 and $925, the item is ten times more expensive than a regular-sized MOLLY toy.
Compared to other extra-large-sized collectible toys, this MEGA COLLECTION features sophisticated design details and high-resolution surfaces. The brand also applied NFC anti-counterfeiting technology to all the collectibles — a large jump in investment for the company’s product research development. This elevated dedication to craftsmanship and creativity has made the MEGA COLLECTION a perfect match for luxury houses like Moncler.
More importantly, the launch volume of the MEGA COLLECTION is usually less than 3,000 figures. This scarcity — as well as the company’s vision for building the collection as “young people’s first collectibles” — is sure to disrupt an art collectibles market dominated by wealthy global elites.
An unexpected crossover between art and luxury
Sharing a spirit of exploration and innovation, Moncler and POP MART came together to create the MEGA COLLECTION 1000% SPACE MOLLY × MONCLER. As such, this version of the SPACE MOLLY has become an emblem of Moncler Grenoble’s technical expertise and forward-thinking approach to design while representing the brand’s commitment to enhanced alpine performance.
Wearing the Moncler Grenoble’s special-edition capsule for Winter 2022, SPACE MOLLY is dressed up in futuristic white & silver, adorned with black, gold, and other colors from the collection. She travels with determination through time and space, leading and encouraging her followers to explore uncharted territory.
Moncler Grenoble collection is designed specifically for alpine use, and pieces protect wearers with cutting-edge materials and functional details. By dressing up a popular IP in this high-performance puffer, Moncler discovered a new way to tap into China’s winter sports boom.
Moncler’s big-picture strategy in China
Collectible toys have become a top consumption trend among Chinese millennials and Gen Zers. Additionally, their distribution via affordable “blind boxes” has led to a craze for new products that borders on mania at times.
The size of the collectible toy market increased from $970 million (6.3 billion RMB) in 2015 to $3.2 billion (20.7 billion RMB) in 2019, a compound growth rate of 34.6 percent. And the market should continue rising and is projected to surpass $11.7 billion (76 billion RMB) in 2024, according to iiMedia Research analysis.
With this positive trajectory, the market will get further segmented, which will offer fresh opportunities to luxury houses. In the case of SPACE MOLLY × MONCLER, the brand’s partnership with a local IP elevates its cultural relevance with local collectors. But it also helps grow its brand image, from a tight focus on dedicated winter fashions to a full-fledged lifestyle label.