Rapid sale of 10,000 Black Myth: Wukong figurines by Shouchuan C&C within a minute
Shouchuan C&C: Chinese Company Revolutionizing the Action Figure Market
Hangzhou Shouchuan Cultural and Creative (Shouchuan C&C) is making waves in the global action figure industry, with a focus on Chinese animation and a strategic shift towards collectible action figures.
Established in 2013 by a group of art and film enthusiasts, Shouchuan C&C initially operated as a studio, handling outsourcing for games and films, and providing art education and training. However, in 2018, the company underwent a significant transformation, shifting its entire business focus toward action figures. This move was driven by declining profits in other sectors, increasing market demand for collectible action figures, and strategic positioning to capitalize on the growing global toy industry trend.
Prior to this shift, Shouchuan C&C primarily collaborated with classic Western film IPs. However, the company's first partnership with a domestic IP came with the collaboration with Game Science. This collaboration resulted in an action figure for the Chinese AAA game, Black Myth: Wukong, showcasing Shouchuan C&C's mastery in applying action figure technology to Chinese games.
The success of Black Myth: Wukong is believed to signal a new era of growth for Chinese AAA games. The physical collector's edition of the game, priced at RMB 1,998 (USD 281) and limited to 10,000 units, sold out within a minute of its release. Xiaomi CEO Lei Jun was among the collectors who purchased the collector's edition.
Zhong Chuan, chairman of Shouchuan C&C, stated that the company has experienced a significant breakthrough with the release of Black Myth: Wukong. Zhong Chuan, a devoted collector himself, began creating his own action figures in 2018, starting with Marvel's Loki.
Shouchuan C&C operates two brands: QueenStudios, established in 2018, specializes in non-articulated sculptures aimed at high-end collectors, and INART, launched in the second half of 2022, produces articulated action figures at a 1:6 scale.
The company plans to continue its collaboration with Game Science and explore partnerships with Chinese film IPs. Shouchuan C&C also secured licenses from Disney and Marvel in 2018 and further licenses from Warner Bros. in 2019.
The market for collectible action figures was still in its infancy in China in 2018, but Shouchuan C&C's growth is supported by a relatively smooth financing process, with Series A funding secured in 2020 and Series B round completed in 2021.
In addition to its focus on action figures, Shouchuan C&C has recently expanded into the music industry by signing a deal with Michael Jackson's copyright holders. The company also plans to develop different trendy derivatives for different regions based on market research and began to pivot toward overseas and global business starting in the second half of 2023, targeting markets in the US, Southeast Asia, Australia, and Europe.
Despite the challenges posed by the pandemic, Shouchuan C&C conducts market research through exhibitions, fan gatherings, and other means to understand the IP and character preferences of different markets. The company's success is a testament to its commitment to innovation and its understanding of consumer trends.
