Pop Mart Profit More Than Doubles Driven by Labubu-Doll Craze

Bloomberg2025-03-26

Pop Mart International Group Ltd. said it will continue to expand its global footprint with focus on North America and Europe, after reporting its profit more than doubled last year thanks to the ...

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It will also look at strengthening cooperation with artists and brands to promote the “cross-boundary integration of pop culture,” the maker of Labubu dolls said.Net income for the Beijing-based toys company rose 188% to 3.1 billion yuan ($427 million) in 2024 compared to 1.1 billion yuan a year earlier, beating the 2.71 billion yuan analyst estimate. Full-year sales more than doubled to 13 billion yuan.The performance of Labubu was “particularly impressive,” it added. Thirteen of its intellectual property products generated sales of over 100 million yuan.The brand has become a global phenomenon after K-pop band Blackpink’s Lisa revealed how she obsesses over toys from the Chinese company. 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