Labubu maker Pop Mart meets 2025 revenue expectations

Pop Mart International

25/03/2026 04:56

BEIJING, March 25 (Reuters) - Pop Mart International Group 9992.HK, the Beijing-based maker of collectible "blind box" toys - including the viral, toothy-grinned Labubu - on Wednesday said its 2025 revenue rose 185% from a year earlier and was in line with market expectations for 37.12 billion yuan ($5.38 billion).
Riding a global wave of demand for its plush toys, bag charms and collectibles from hit intellectual properties like The Monsters - including Labubu - Molly and Crybaby, Pop Mart has grown from a domestic blind-box retailer into one of the country's most closely watched consumer brands, as it continues to ride a wave of popularity to further overseas expansion.

Last year, Pop Mart nearly tripled revenue to 37.12 billion yuan from 13.04 billion yuan a year earlier. It reported profit attributable to owners of 12.78 billion yuan, up 308% from 3.13 billion yuan a year earlier.

A key driver has been Labubu, the toothy character that helped turn Pop Mart into a rare Chinese brand with broad overseas appeal. In January, the company said it had added manufacturing capacity in Mexico, Cambodia and Indonesia to support demand and strengthen supply-chain resilience.

The company also said it plans to make London its European headquarters and has teamed up with Sony Pictures to develop a film about Labubu, underscoring its push to expand further in overseas markets.

 (Reporting by Casey Hall in Shanghai, Sophie Yu in Beijing; Editing by Thomas Derpinghaus)

 ((casey.hall@thomsonreuters.com))