POP MART announced that its cooperative production base in Mexico has commenced operations to meet the robust demand for trendy toys in the rapidly growing North American market.
A spokesperson for POP MART informed media that production partners in Mexico, Cambodia, and Indonesia have joined the company's supply network. POP MART does not operate its own manufacturing facilities.
Since the Labubu doll became a global phenomenon last year, the Chinese trendy toy company has been actively increasing its production capacity. Soaring demand for these collectible dolls—often sold as "blind boxes" to encourage collecting different styles—across regions from China and Japan to the United States and Southeast Asia has frequently led to stockouts in physical stores and driven up resale prices.
As one of the few Chinese brands to achieve global consumer appeal, POP MART is ramping up its investment in the U.S. market, planning to double its number of American stores this year. Currently, POP MART operates approximately 60 stores in the U.S., along with 100 "roboshop" vending machines.
However, concerns over the sustainability of Labubu's popularity continue to weigh on the Hong Kong-listed stock price of POP MART. Since hitting a record high last August, its share price has declined by approximately 40%.
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