Labubu Rakes in Profits: Pop Mart’s Annual Revenue Expected to Exceed $4 Billion

Pop Mart CEO Wang Ning stated today (20th) that his toy company is on track to achieve its 2025 revenue target of 20 billion yuan ($2.78 billion), adding that "reaching 30 billion yuan ($4.18 billion) this year should also be effortless."

Amid surging demand for toys, particularly in high-margin overseas markets, Pop Mart released a record-breaking semi-annual financial report on the 19th, showing that the manufacturer of Labubu saw its net profit skyrocket by nearly 400%.

Pop Mart’s stock price surged over 5% in Hong Kong trading today. Company executives also announced plans to explore expansion into emerging markets in the Middle East, Central Europe, and South America.

Wang Ning, who founded Pop Mart in 2010, said, "We remain highly optimistic about overseas markets and believe there is still significant growth potential." He added that combined sales in North America and the Asia-Pacific region this year are equivalent to Pop Mart’s 2024 sales in China.

Pop Mart currently operates about 40 stores in the U.S. Wang Ning revealed that the company will enter a "relatively rapid store expansion phase" over the next one to two years, with plans to open 10 additional stores in the U.S. by year-end.

Year-to-date, Pop Mart’s stock price has surged over 230%, pushing its market capitalization past industry giants like Barbie maker Mattel and Hello Kitty parent company Sanrio.

Pop Mart’s next goal is to build a Disney-style empire. Executives expressed optimism about opportunities for its characters to feature in animated films and theme park attractions, though such moves are not expected to generate substantial direct revenue in the short term. (Edited by Liu Xianghua)