Pop Mart posts nearly quadruple profit on Labubu surge overseas

Pop Mart International Group, the Beijing-based toy maker behind the Labubu character, reported a blistering first half of 2025, with net profit nearly quadrupling and revenue doubling from a year earlier as the Labubu phenomenon went global. The company posted about 13.9 billion yuan in total sales and roughly 4.6 billion yuan in profit for the six months, driven by overseas demand for its The Monsters line led by Labubu, and by a widening margins profile that has the company expanding aggressively outside China.

Central to Pop Mart’s surge is Labubu, a toothy-grinned, rabbit-eared plush figure whose popularity has transcended traditional toy aisles. The Monsters IP, which houses Labubu and related characters, accounted for about a third of total revenue in the period. Labubu’s own sales reached about 4.8 billion yuan, while plush products overall posted a revenue surge of more than 1,200% and represented roughly 44% of total revenue. The company has attributed much of the surge to a strategy focused on high-margin items sold in blind boxes, followed by social-media-driven demand from celebrities and fans alike.

Geographically, overseas markets have become a major growth...