Pop Mart’s Labubu mini toys drive 250% global sales surge
Chinese toy manufacturer Pop Mart, creator of the popular Labubu dolls, reported a 250% surge in global revenue in the third quarter after launching miniature versions of its monster-themed toys, reports a Kazinform News Agency correspondent.
The company said the August release of mini Labubu figures significantly boosted international sales, with revenue in the United States soaring by more than 1,200% and European sales rising over 700%. Pop Mart’s shares gained 5.5% in Hong Kong, raising its market capitalization to about USD 45.5 billion.
The brand’s global success was further strengthened by celebrity endorsements from figures such as Kim Kardashian and Lisa from K-pop group Blackpink, which fueled interest in Western markets. Partnerships with Coca-Cola and Japan’s One Piece manga franchise also expanded the company’s global visibility.
Pop Mart continues to rely on its popular “blind box” sales model, where buyers discover which figure they receive only after purchase. While this approach has driven consumer excitement and collectibility, it has also drawn criticism for its resemblance to gambling mechanisms.
Despite recent caution from investment banks such as JPMorgan over potential overvaluation, Pop Mart’s stock, listed since 2020, has risen by more than 280% since its debut. The company now operates over 2,000 retail outlets and vending machines worldwide, consolidating its position as a leading force in the global designer toy market
Earlier, Kazinform News Agency reported on the global phenomenon surrounding one of the world’s most talked-about collectible toys — Labubu, created by Hong Kong-born artist Kasing Lung and brought to international prominence by the Chinese toy company Pop Mart.
