00:00Hey guys, welcome back to another episode of Brand Story. Today we're going to be talking
00:05about Popmart, so let's get into it. I think everyone in the world knows what a vending
00:11machine is. It is that thing you go to when you re-at the movies and you have to buy
00:16overpriced
00:17snacks. But did you know that there is more to vending machines than just your average snack?
00:23What if I told you there was a vending machine that sold toys and that this toy was exclusive?
00:30That would be pretty cool, right? Well, in Hong Kong, there is an entire chain of stores that does
00:37just that. And they've been doing it since 2010, the company is called Popmart. But before we get
00:44into how they became the biggest designer toy company in the world, let me tell you a little
00:49bit about their history. Popmart was founded in 2010 by two brothers named Ryan and Peter Tsai.
00:55They were born in mainland China, but moved to Hong Kong as teenagers. And it was here where they
01:02went to university and studied business. While they were students, they noticed that there weren't any
01:09fun or trendy cafes around campus, and so they decided to open one themselves. However, this wasn't
01:17exactly a huge success. There weren't many customers and they barely made any money. This meant they had to
01:24find a way to reinvent themselves if they wanted to make it in the business world. And so after graduating,
01:31they did the only logical thing they could think of and opened a vending machine store.
01:37Now don't get me wrong, vending machines are a great business and can be very profitable if you do it
01:43right.
01:43and then I'll get back to the next meeting again and see you in the next meeting.
01:43So if you want to do better, it's going to be really soon.
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