With the rise of subcultures of consumption among Generation Z, for both industry and academia, it has become an important question about which corporation leverages these subcultures to establish and manage relationships with consumers. This research conducts a longitudinal single-case study of Pop Mart to explore the implementation process and underlying mechanisms of a relationship marketing bonding strategy centered on subculture of consumption. The research finds that, driven by different relationship marketing objectives, firms have formulated a relationship marketing bonding strategy in three stages: subculture relationship identification, subculture community relationship reinforcement, and subculture ecosystem relationship enhancement. In these contexts, the subculture of consumption functions as a "pivotal cue", "emotional bonds", and "spiritual pillars", respectively. These strategies are achieved through mechanisms of "cue guiding""relational identification" and "cultural identification and innovation". Furthermore, the company's approach to providing value to consumers has progressively shifted from "one-sided" to "co-creation", offering consumers a more diverse range of economic and emotional values. This research identifies the special cultural and cognitive connections of consumer subcultures, revealing their implementation processes and role as a mechanism for executing a relationship marketing bonding strategy centered on the subculture of consumption. It represents a ground-breaking attempt to integrate subcultures of consumption into relationship marketing bonding strategy research, creating a theoretical bridge for dialogue between the two research fields.