Pop Mart's mining bonanza is Labubu: Miniature versions of the beloved dolls are on the horizon.
Pop Mart, a Hong Kong-listed company, has reported an impressive 204% increase in revenue for the first half of 2025, with global revenue reaching 13.87 billion Chinese yuan, approximately 1.65 billion euros. This growth is largely attributed to the success of their latest product line, the Mini-Labubu dolls and the "Monsters Pin For Love" series, which includes a set of 30 letter charms.
The journey of Pop Mart began in 2010 when Wang Ning, its CEO, opened the first Pop Mart store in Beijing's Zhongguancun technology district. Since then, the company has grown exponentially, with profits increasing by 401% compared to the previous year.
One of the key drivers of Pop Mart's success is the Mini-Labubu dolls, which are approximately 10 centimeters tall and designed to be attached to phones. These adorable toys will be available in 30 different colours and will retail for 18 euros each. They will be sold in blind boxes, adding an element of surprise to the shopping experience.
The popularity of Labubus has been on the rise for a year, with fans forming long lines outside Pop Mart stores. In fact, the demand has been so high that Pop Mart had to stop selling physical Labubus in some countries like the UK and South Korea due to their popularity.
The "Monsters Pin For Love" series also includes a set of 30 letter charms, each with its own pattern and a Labubu metal charm. These charms are approximately 11 centimeters tall.
Pop Mart CEO Wang Ning introduced the Mini-Labubus during a conference call this week. The Mini-Labubu dolls and letter charms will be available for purchase on Pop Mart's website from August 29. Customers can choose between shipping and in-store pickup for their purchases.
Another popular toy, Lafufu, is also experiencing a craze. However, it's the Mini-Labubu dolls that are making headlines with their significant contribution to Pop Mart's total revenue. In the first half of 2025, the Monsters IP, including Labubu, contributed 4.81 billion Chinese yuan (570 million euros) to Pop Mart's total revenue.
The stock price of Pop Mart has reflected this success, with the stock price rising by around 18% in the last five days and more than 550% in the past year.
As Pop Mart continues to innovate and expand its product line, it's clear that the company is set to continue its upward trajectory in the toy industry.
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