Pop Mart’s Labubu Continues Global Domination with New Releases and Soaring Sales
By Michelle Chapman
Shanghai, China – The enchanting world of Labubu, the whimsical monster with pointy ears and a toothy grin, is set to expand its reign over the global collectible toy market. Chinese toy behemoth Pop Mart announced this month the highly anticipated release of new mini-sized Labubu plush pendants and a never-before-seen long-fur vinyl doll, cementing the character’s status as a critical driver of the company’s remarkable financial success.
Labubu, a creation of renowned artist and illustrator Kasing Lung, first sprang to life in 2015 within the pages of three picture books inspired by Nordic mythology. These early artistic renditions introduced the world to the mischievous yet endearing creature. However, it was a pivotal deal struck in 2019 between Lung and Pop Mart, a company celebrated for its “blind box” collectible figurines and a keen eye for viral trends, that truly catapulted Labubu into mass appeal. The character’s explosive popularity took a dramatic leap in 2023 when Pop Mart launched Labubu plush keyrings, which rapidly became a ubiquitous sight and a social media sensation.
New Offerings to Captivate Collectors
Pop Mart’s latest rollout, scheduled for August 29, introduces several exciting additions to the Labubu universe:
- The Monsters Pin For Love Series: Mini Labubu Vinyl Plush Pendants: These adorable, mini-sized pendants will be available in a vibrant array of colors, each corresponding to a letter of the alphabet. Priced at $22.99 each, collectors can personalize their monsters or spell out messages.
- The Monsters Pin For Love Series: Letter Pendant Blind Boxes: Adding an element of surprise, this series also includes 30 unique letter pendant blind boxes. Each box, retailing for $18.99, contains a distinct pattern and a charming Monsters character.
- The Monsters Big Into Energy Series: Rock the Universe Vinyl Plush Doll: Marking a significant first for the franchise, this plush doll will feature long fur, crafted with a specialized dyeing technique that guarantees no two figures are exactly alike. Adorned with a pearl-and-alloy heart necklace, this premium collectible will be available for $114.99.
These new products will be accessible globally starting August 29 through Pop Mart’s official website for both in-store pickup and shipping, on the company’s dedicated app, and via its official TikTok accounts, leveraging the platform that has often fueled viral toy crazes.
A Financial Phenomenon
Labubu has proven to be an undeniable “bonanza” for Pop Mart, playing a central role in the company’s meteoric financial growth. According to Pop Mart’s annual report, the company’s total revenue more than doubled in 2024, reaching an astounding 13.04 billion yuan (approximately $1.81 billion USD). The plush toy category, spearheaded by characters like Labubu, saw an extraordinary revenue increase of over 1,200% in 2024, contributing nearly 22% of Pop Mart’s overall revenue.
This upward trajectory continued into the first half of the current year. Pop Mart recently reported that its profit attributable to shareholders skyrocketed by nearly 400% during this period. Concurrently, overall revenue jumped by more than 200% to 13.88 billion yuan (approximately $1.93 billion USD). The company’s global expansion efforts also bore fruit, with revenue in the Asia Pacific region surging by over 250% and, most notably, revenue in the Americas soaring by more than 1,000%, indicating a rapidly growing international fanbase for Labubu and other Pop Mart creations.
