Pop Mart’s Labubu Doll Craze Fuels 400% Profit Growth and Global Expansion Plans

Pop Mart, the Chinese toy giant behind the viral Labubu doll, has reported record-breaking results with net profit soaring nearly 400% in the first half of the year. The surge was driven largely by booming demand in international markets and the company’s aggressive expansion strategy.

CEO Confident About 2025 Revenue Targets

Pop Mart’s Chief Executive, Wang Ning, told analysts that the company is on track to hit its 2025 revenue target of 20 billion yuan (€2.4 billion). He also suggested that achieving 30 billion yuan this year “should be quite easy,” highlighting strong momentum across both domestic and global markets.

Labubu: From Handbag Charm to Global Sensation

Labubu, part of “The Monsters” series created by Hong Kong artist Kasing Lung, has become a cultural phenomenon. Known for its toothy grin, the collectible has captured fans worldwide, with celebrities like Rihanna and David Beckham showcasing the toy.

Until recently popular as a handbag charm, Pop Mart is now releasing a mini Labubu designed for smartphones, expected to further boost sales.

Expansion Beyond China

Executives confirmed that Pop Mart is actively exploring emerging markets in the Middle East, Central Europe, and Latin America. Ning emphasized that overseas markets still hold “very broad space for growth,” predicting that sales from North America and Asia-Pacific will soon match those from China.

In the United States, where Pop Mart already operates about 40 stores, the company plans a period of “relatively rapid store openings.” At least 10 new US stores are expected by the end of this year.

Blind Boxes and Beyond

Pop Mart’s core business remains its collectible toys sold in blind boxes, priced between €10 and €20. Each box offers a surprise figure, making the unboxing experience part of the excitement for fans and collectors.

Looking ahead, the company is also exploring opportunities in content and entertainment, including animated films and theme park attractions featuring its characters. While these projects may not bring immediate revenue, executives believe they will strengthen Pop Mart’s brand value and long-term growth.

A Global Toy Powerhouse in the Making

With soaring profits, growing celebrity appeal, and expansion into new regions, Pop Mart is quickly positioning itself as a global leader in the collectible toy market. The Labubu phenomenon is at the center of this growth story, proving that a single toy can spark worldwide demand and redefine the future of the industry.

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