In the opening half of 2025, Pop Mart experienced a significant surge in revenue, reaching a staggering $2 billion, thanks in large part to Labubu's dedicated efforts.
Pop Mart Valuation Soars as Revenue Skyrockets
Chinese toy company Pop Mart has seen a significant surge in its market valuation, reaching a new high of $38 billion. This impressive figure surpasses the combined market valuations of Barbie-maker Mattel, Nerf-seller Hasbro, and Hello Kitty-owner Sanrio.
The company's impressive growth can be attributed to a substantial revenue increase in the first half of 2025. Pop Mart reported a year-on-year revenue growth of 204.4%, totaling RMB 13.88 billion ($1.95 billion). Net profit also surged by 385.6% to RMB 4.68 billion ($659 million).
A significant driver of this revenue increase was sales from the THE MONSTERS series, including the Labubu IP. Revenue from the Labubu monsters amounted to 4.81 billion yuan ($669.88 million), representing a rise of 668%.
Pop Mart's international business is also experiencing rapid expansion, especially in the Americas, where revenue grew by an impressive 1,142.3%. The company is focusing its overseas strategy primarily on the US market with a "quality over speed" approach, opting not to rush store openings.
Pop Mart plans to open around 100 more outlets outside China in 2025, signaling broader ambitions for their global growth. The company has already established a strong presence, with 571 stores and 2,597 automated robot shops across 18 countries and regions.
The Labubu monsters, a character created by Hong Kong-based artist Kasing Lung, accounted for 34.7% of Pop Mart's total revenue during the same period. These collectible figurines have gained popularity since becoming part of Pop Mart's blind box lineup in 2018 and have become a viral sensation, with celebrities like Lisa, Rihanna, David Beckham, and Marc Jacobs fueling the worldwide craze.
The rise in shares of Pop Mart has led to a significant increase in its market valuation. Shares in Pop Mart have risen more than 200 percent in the last year. The company's toys are generally priced higher in international markets, generating more revenue.
Labubus have become a must-have accessory among wealthy collectors, with the current trend being to have one (or many) dangling from a Hermès Birkin or other designer bag.
Pop Mart expects foreign sales to surpass domestic sales in 2025, with North America outperforming Southeast Asia. The company is also looking to expand into new markets such as the Middle East and Central Europe.
With its impressive growth and expanding global presence, Pop Mart is poised to continue its dominance in the toy industry.
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