Company behind Labubu collectible sees revenue and profit soar, alongside growth of 1000%+ in key territories
Pop Mart, the Chinese company behind the viral Labubu collectibles, saw first-half revenue growth of 204%, hitting £1.44bn (13.88bn yuan).
Adjusted net profit is up 363% at £487m (4.71 yuan) on a gross margin of 70.3%.
It’s biggest brand is The Monsters, which includes the most coveted Labubu character and accounts for 34.7% of revenue. Four other brands account for more than one billion yuan in earnings: Molly, Skullpanda, Crybaby, and Dimoo.
Founded in China in 2010, Pop Mart’s domestic market still drives the majority of its revenue (60%), with the rest of the APAC region accounting for 20%, followed by North and South America (16.3%), and Europe and the rest of the world at 3.4%. The Americas saw the most dramatic growth, up 1142% YoY, followed by Europe (729%). More established asian markets still saw growth between 135 and 250%.
Pop Mart’s brands adorn a host of products, but it is the core plush lines that performed best at retail, with YoY growth of 1276, while general figures grew 95%.
The company will continue its global retail roll out in the back half of 2025, including here in the UK through a new partnership with The Entertainer, and a dedicated retail space in Liverpool. It operates 571 ‘offline’ stores and 2597 ‘robot’ stores (vending machine-style concessions) in 18 countries, alongside a growing web and app retail business.
