It’s safe to say that POP MART is no longer a fad. Shortly after its founder and CEO Wang Ning teased a mini version of its internet-breaking viral toy LABUBU, which can be attached to a smartphone, the Chinese toymaker released its H1 2025 financial report. The report, in turn, pushed the POP MART market value up 12.32% to 423.6 billion HKD (54.21 billion USD). Its gross profit margin is now at 70.3%, equal to that of Hermès.
In the first 6 months of the year, the “LABUBU craze” boosted the brand’s revenue growth by a staggering 204.4% year-on-year (YoY) to 13.88 billion RMB (1.93 billion USD). Operating profit jumped a whopping 436.5% to 6.04 billion RMB (841.67 million USD), while net profit was up 385.6% to 4.68 billion RMB (652.16 million USD).
POP MART separates its business between domestic and overseas markets. In China, revenue grew steadily by 135.2% YoY to 8.28 billion RMB (1.15 billion USD), while overseas business now contributes 40.3% of the company’s total income. Overall, the overseas market grew 439.6% YoY to 5.59 billion RMB (778.96 million USD). The Asia-Pacific region contributed the most, but America was the fastest-growing market, up 1,142.3% YoY to 2.27 billion RMB (316.32 million USD).
Unsurprisingly, THE MONSTERS, the IP collection LABUBU belongs to, remains the top-selling IP, generating 4.81 billion RMB (670.27 million USD), up 668% and contributing 35% of sales. Plush toys also overtook figurines to become POP MART’s biggest selling category, surging 1,276.2% to 6.14 billion RMB (855.61 million USD). This means that innovation and new products continue to drive the growth of POP MART, both in revenue and in market value.
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