What Sun Yuanwen never expected was that his first entrepreneurship in his life would have originated from a movie. It was the movie “Ready Player One” that gave me a great inspiration for Chaowan to start a business.” Sun Yuanwen told the “Frontline of Entrepreneurship” that the film connected more than 100 IPs in just over two hours. And this just dispelled his long-standing concerns about being a fashion play collection store: too many IPs or affecting sales. Afterwards, Sun Yuanwen compared Chaowan with other consumer goods markets through research on Chaowan users, visited many offline stores, and also referred to the research of professional research institutions and the sales data of MINISO. , Sun Yuanwen finally took the step of entrepreneurship and established the trendy play brand TOP TOY in December 2020.
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Up to now, TOP TOY has opened more than 80 stores in more than 30 cities across the country, and has rapidly deployed major core business districts in first- and second-tier cities such as Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu, and Chongqing. The company’s GMV has exceeded 3 100 million yuan, and the Cameroon Email List number of online users is nearly 3 million. In just one year, how did TOP TOY grow into a “dark horse” in the fashion game industry?Sun Yuanwen is also one of countless people who have done work that is not so related to their major after graduation.
“I majored in mechanics at university, but after graduation, I joined an international fast fashion giant as a management trainee.” Sun Yuanwen, founder and CEO of TOP TOY, recalled to “the forefront of entrepreneurship”. The reason for making such a choice has nothing to do with Sun Yuanwen’s mother. In Sun Yuanwen’s childhood memories, his mother was in business. Therefore, Sun Yuanwen has cultivated a certain skill in dealing with people and selling goods since he was a child. “It’s a legacy of two generations in our family,” he said.
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Thanks to the five-year experience in the above-mentioned fast fashion giants, in addition to the rapid promotion within the company, Sun Yuanwen also has a deep understanding of the retail market. After leaving the fast fashion giant, Sun Yuanwen joined MINISO. By June and July 2020, Sun Yuanwen gradually came up with the idea of starting a business in Chaowan.
He first conducted research on Chaowan users and defined the users he wanted to serve as pan-two-dimensional users. According to their research, the scale of domestic pan-two-dimensional users is as high as 300 million to 400 million. Then, Sun Yuanwen compared Chaowan with other consumer goods markets. Relevant data shows that the compound growth rate of China’s fashion play market has reached 34.6% in the past five years, and it is expected that the compound growth rate will exceed 40% in the next five years. “The trendy toy market is growing much faster than many consumer products,” he said.