Pop Mart, the Beijing-based collectibles powerhouse known for its blind-box toys, is making bold moves to transform itself from a retail sensation into a full-fledged global cultural brand. At the heart of this transformation is Labubu, a mischievous and toothy character from artist Kasing Lung’s The Monsters series, which has taken the world by storm and captured the attention of fans and celebrities alike—including Rihanna and David Beckham.
At a recent investor briefing, CEO Wang Ning told analysts that Pop Mart is on track to generate 20 billion yuan ($2.78 billion) in revenue by 2025, confidently suggesting that 30 billion yuan this year “should be quite easy” following a blockbuster first half. The company reported an extraordinary near-400% surge in net profit, driven largely by robust international demand where margins tend to be higher than in China.
With over 40 stores already in the United States, Pop Mart is doubling down with plans to open 10 more by the end of the year. But the expansion doesn’t stop there. Company executives pointed to promising markets across the Middle East, Central Europe, and Latin America, adding that sales from North America and Asia-Pacific could match China’s by as early as 2024.
The company’s signature product remains the blind box: a sealed toy package priced between $10–$20, beloved by collectors for the thrill of the unknown. But Pop Mart is now evolving its intellectual properties beyond the toy aisle. Labubu, its flagship character, is being adapted into new formats, including a mini phone charm launching this week—part of a strategy to extend the character’s influence across everyday consumer culture.
The bigger vision? Entertainment. Wang revealed the company is investing in animated films, theme parks, and other storytelling mediums that could make Pop Mart’s characters fixtures in global pop culture. While these moves may not yield immediate revenue, they are central to Pop Mart’s ambition to become “Asia’s answer to Disney or Sanrio”—companies that have turned beloved characters into multi-generational global franchises.
From humble beginnings in retail to ambitious IP-driven growth, Pop Mart’s trajectory signals the rising global influence of Asian consumer brands. With strong creative assets and a growing fanbase, its transformation could reshape the global entertainment and merchandising landscape—and Labubu might just be the face that leads the charge.
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