China’s famous toy company Pop Mart CEO Wang Ning has announced that the company’s annual revenue could exceed ¥30 billion (around $4.18 billion) this year. This figure is much higher than the company’s initial target of ¥20 billion ($2.78 billion).
What are Pop Mart and Labubu?
- Pop Mart was founded in 2010 by Wang Ning. The company sells collectible designer toys through the “blind box” model—buyers don’t know which toy they will get until they open the box, which adds a surprise element.
- Its most famous character is Labubu, designed by Hong Kong artist Kasing Lung. Labubu’s mischievous face, tiny sharp teeth, and “ugly-cute” look have made it a global hit.
Story Behind the Name “Labubu”
The name “Labubu” sounds playful and childlike, matching its innocent yet mischievous personality.
It is easy to remember and has international appeal.
It doesn’t carry any mythological depth; instead, it is the result of the artist’s creative imagination and vision.
Pop Mart’s Major Achievements in 2025
1. Revenue Surge
The company delivered a stellar performance in the first half of the year.
- The “The Monsters” series (which includes Labubu) alone generated 4.81 billion yuan ($670 million), accounting for around 35% of total revenue.
- Other popular series such as “Molly” and “Crybaby” also crossed 1 billion yuan in revenue.
2. Profit Soared
- Net profit surged by 396–400% in the first six months.
- Year-on-year, the company’s total revenue rose by 204%.
3. Global Expansion
- Pop Mart is rapidly expanding its international presence, entering markets in the U.S., Middle East, Europe, and Latin America.
- In the U.S. alone, the company currently operates 40 stores and plans to open 10 more by year-end.
4. Cultural Influence
- Labubu has been embraced by global celebrities including Rihanna, David Beckham, and Blackpink’s Lisa.
- The resale market is booming, with some limited-edition figures fetching hundreds of thousands of dollars.
5. Counterfeit Risks
- Counterfeit toys under the name “Lafufu” have appeared in the market, posing choking hazards for children.
- The U.S. Consumer Product Safety Commission (CPSC) has issued a warning regarding these fake products.
6. Entertainment Ambitions (Disney-like Scaling)
- Pop Mart aims to build a Disney-style franchise around its IPs, including animated films and theme parks.
- However, the company acknowledges that these will not become a major revenue source in the short term.
7. Stock Boom & Investor Cautions
- Since the beginning of 2025, Pop Mart’s shares have surged by over 230%.
- The company’s market valuation has surpassed that of giants like Mattel and Sanrio.
- Still, some analysts warn that such rapid growth may lead to overvaluation risks in the long run.
Conclusion:
Pop Mart has created a global sensation this year with its cute and unique IP characters, especially Labubu.
CEO Wang Ning stated that the company will easily surpass revenue of ₹30 billion ($4.18 billion).
However, the threat of counterfeit toys and potential overvaluation in the stock market could become future challenges for the company.
