In July 2025, PunkVerse announced the opening of its first overseas flagship experience store in Ho Chi Minh City, Vietnam.
This milestone marks not just an international expansion but the strategic starting point of PunkCode’s global initiative to upgrade the collectible toy industry by combining original IP, immersive XR experiences, and innovative asset-participation models.
Unlike traditional collectible toy companies that rely primarily on product sales, PunkVerse aims to build a global experiential retail network where users can engage more deeply and share in the brand’s long-term growth. By merging strong IP development, immersive retail experiences, and a new ownership structure, PunkVerse creates a scalable, participatory ecosystem that unlocks PunkCode’s international growth potential while supporting a compelling valuation story for investors.
1. PunkVerse as PunkCode’s Global Expansion Vehicle
PunkVerse is not a standalone brand but a core business module that PunkCode has launched for international markets.
PunkCode is a comprehensive collectible toy company that integrates original IP creation, artist collaborations, toy manufacturing, immersive XR retail, and global distribution capabilities. Its business model extends far beyond traditional toy sales, incorporating interactive experiences and new forms of consumer participation.
PunkCode is positioning itself as a first-of-its-kind “Art Toy Culture Stock” and “XR Technology Stock,” representing a new generation of companies that combine cultural creativity with technology-driven retail experiences.
The company’s three-pillar competitive strengths are:
• IP Strength – PunkCode owns a strong portfolio of original and collaborative IPs. Its proprietary “Space Ape” and “Punk Ape” characters have high commercial potential, while partnerships with renowned artists such as Zhang Daqian and Guan Shanyue bring cultural depth and collectible value. This “original + collaboration” strategy enhances both short-term market impact and long-term brand equity.
• Technology Strength – PunkVerse is among the first companies to blend physical collectibles with immersive XR retail formats. Its proprietary XR system has already been deployed in over 100 venues worldwide, showing strong user engagement and commercial results.
• Channel Strength – With 62 distribution partners across 7 countries, PunkVerse has built a robust global network, ensuring rapid IP rollout and market entry.
PunkCode has already completed the structure for a Nasdaq listing under the ticker “PKCD” in pre-market trading and is expected to go public in 2026. PunkVerse, as the company’s flagship international project, is expected to become a key driver of growth and a central pillar of PunkCode’s global strategy.
2. Why Vietnam Was Chosen as the First Market
The decision to launch in Vietnam follows clear business logic:
• Demographics and Consumption Potential
Vietnam has around 100 million people, with more than 50% under the age of 35. Its rapidly growing middle class is expected to reach 56 million people—about half of the population—by 2030. This young demographic makes Vietnam highly receptive to cultural and experiential consumption.
• Retail and Payment Infrastructure
Vietnam is one of Southeast Asia’s fastest-growing digital payment markets, with mobile payment penetration exceeding 60%. This infrastructure supports seamless in-store participation and loyalty programs, reducing barriers for customer engagement.
• Low Competitive Saturation
Compared to China, Japan, and South Korea, Vietnam’s collectible toy market is still in its early stages. Few local brands have scaled successfully, and international players have yet to establish a strong presence, leaving significant growth opportunities.
For PunkVerse, the Vietnam flagship store is more than an overseas outpost—it serves as a test case for validating a new retail format that integrates cultural experience, customer participation, and brand engagement.
3. Business Model Innovation: Turning Stores into Assets
Traditional retail often ends at the point of purchase, leaving customers with limited long-term involvement. As consumer behavior evolves and offline retail faces rising costs, leading brands have started experimenting with models that encourage customers to become stakeholders.
Industry Benchmarks
• Hema Fresh’s “Mini-Store Partner Program” (2021) allowed employees and partners to co-invest and share profits. Pilot stores saw over 15% sales growth within three months, with some achieving more than 30% profit improvement.
• Luckin Coffee’s franchise model has been a key factor in its rapid expansion. By transferring operational risk to franchisees while providing strong supply chain support, Luckin significantly shortened ROI cycles. By 2024, franchise stores accounted for over 65% of its total locations.
PunkVerse’s Approach
PunkVerse builds on this logic but goes further by combining high-value IP with immersive XR experiences and customer participation.
• Stores are partially open to equity participation from users, local communities, and operators—up to 40% per store—combined with profit-sharing and loyalty rewards.
• XR immersive experiences increase customer engagement, repeat visits, and social media visibility.
This model transforms stores from simple retail outlets into asset nodes, where customers are not just consumers but also co-builders and long-term beneficiaries.
4. Valuation Logic and Market Comparables
PunkCode’s business model has clear parallels with industry leaders:
• Pop Mart, which built a scalable valuation story through IP development, blind-box retail, and channel expansion, trades at around 60x P/E.
• Funko, leveraging licensed pop culture products, trades at around 15x P/E.
PunkCode differentiates itself by combining cultural IP, immersive retail formats, and equity participation, enabling stronger customer loyalty and long-term value capture.
Analysts project PunkCode’s P/E ratio could reach 60–120x post-listing. For 2025, PunkCode targets RMB 200 million in revenue, spanning toy sales, e-commerce, and XR experience businesses. As PunkVerse scales internationally, the company’s growth narrative is expected to strengthen further.
5. Global Expansion Strategy
The Vietnam flagship store is only the first step. According to PunkCode’s roadmap, flagship experience centers will open in Singapore, Thailand, South Korea, and Dubai between late 2025 and 2026, alongside a “1,000 Store Plan.”
Each store will adopt a standardized “40% equity + profit-sharing + loyalty rewards” framework, encouraging participation from local users, communities, and partners.
This distributed asset network will accelerate PunkVerse’s global market penetration while transforming consumers into stakeholders—creating a sustainable, long-term value cycle.
The launch of the Vietnam flagship store marks a key milestone in PunkCode’s mission to redefine how cultural IP and immersive retail can create lasting value.
By opening store equity, combining high-quality IP with XR experiences, and empowering customers as stakeholders, PunkVerse shifts from one-time transactions to long-term, value-sharing relationships.
As PunkVerse rolls out its 1,000 Store Plan globally, it is set to become a new benchmark for next-generation retail, bridging cultural creativity, immersive experiences, and participatory growth.
Media Contact
Company Name: PunkVerse
Contact Person: Mr.Lee
Email: Send Email
City: Shenzhen
State: Guangdong
Country: China
Website: https://punkcode.com/