Prime Highlights
- Pop Mart shares jumped over 12% after reporting stellar first-half earnings and unveiling a new Labubu doll.
- CEO Wang Ning announced plans for a mini Labubu doll that can attach to phones, driving further global excitement.
Key Facts:
- The company’s revenue grew 204% to 13.88 billion yuan (€1.66 billion), and net profit rose 386% to 4.68 billion yuan (€559.39 million).
- Pop Mart operates nearly 600 stores and 2,600 vending machines across more than 30 countries, with international sales making up 40% of revenue.
Key Background:
Pop Mart, the company behind the viral Labubu dolls, saw its shares rise over 12.5% in Hong Kong trading on Wednesday after announcing strong first-half earnings and unveiling a new doll. Collectors worldwide continue to embrace the furry elf toys from the popular “The Monsters” series.
The company’s revenue grew 204% to 13.88 billion yuan (€1.66 billion) in the first half of 2025. Its net profit rose 386% to 4.68 billion yuan (€559.39 million), beating analysts’ forecasts. About 40% of sales came from outside China, showing Labubu’s global popularity.
“The Monsters” series brought in 4.81 billion yuan (€574.99 million), or 34.7% of Pop Mart’s revenue. Fans enjoy the surprise, as they don’t know which doll they will get until they open it.
The company went public in Hong Kong in December 2020 with a market capitalization of around €6 billion, and its shares have climbed over 300% since then. Pop Mart now has nearly 600 stores and 2,600 vending machines in over 30 countries. It opened its first store in London in January 2022.
CEO Wang Ning said the company plans to expand in the Middle East, Central Europe, and Central and South America. Pop Mart currently runs 40 stores in the US and will open 10 more by the end of 2025. Wang also announced a mini Labubu doll that attaches to phones, adding another product to the lineup.
Analysts have praised Pop Mart’s growth but caution that trends can shift quickly. ADanni Hewson, head of financial analysis at AJ Bell, said the elf-like Labubu dolls are generating strong profits and healthy cash flow. Consumers can be capricious, and Pop Mart will need to maintain its momentum to avoid a one-hit wonder.”
Pop Mart remains on track to hit its 2025 revenue target of 20 billion yuan (€2.39 billion), and Wang indicated that reaching 30 billion yuan this year is achievable. Strong financials, global expansion, and innovative products continue to position Pop Mart as a leading player in the collectibles market
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