Newscasts - Labubu-maker Pop Mart sees revenue hit over $4 bln this year

Pop Mart International

20/08/2025 16:28

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Source: 'Reuters - Business videos'

Description: Pop Mart chief executive Wang Ning said on Wednesday his toy company was on track to meet its targeted revenue goal of $2.78 billion in 2025, and that "30 billion yuan ($4.18 billion) this year should also be quite easy." Fiona Jones reports. 

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Video Transcript:

Labubu doll maker Pop Mart said Wednesday it sees revenue hitting over $4 billion this year. The toy company also announced record half-year results. Frenzied demand for the furry Labubu dolls, especially in overseas markets, sent net profit soaring nearly 400%. Pop Mart was the most actively traded stock by turnover on the Hong Kong exchange on Wednesday. Shares rose more than 12.5% to their highest close since making their debut just under five years ago. Pop Mart's primary business is producing and selling collectible toys. Many of them are sold in blind boxes, packages that consumers buy without knowing which version of the toy is inside. Labubu has become a favorite of celebrities including Rihanna and David Beckham and has sold out around the world. Most popularly a charm for handbags, Pop Mart says it will this week launch a mini version of Labubu that can be attached to phones. The toy company also said it's about to begin store expansion. It currently has 40 stores in the US and expects to open 10 more there by the end of this year. It said emerging markets including the Middle East and Central and South America are also being explored. Pop Mart said on Tuesday "The Monsters" series, of which Labubu is a part, raked in almost $670 million in the first half. That’s nearly 35% of total revenue. The company’s shares have risen over 230% year-to-date, with a market cap of more than $50 billion. It makes Pop Mart more valuable than legacy industry giants like Barbie-maker Mattel.