Labubu craze accelerates Pop Mart’s global ambitions

Pop Mart International Group Ltd, a China-based trendy collectible toy maker, is banking on the new global craze surrounding its plush product series of Labubu figures, the company’s beloved intellectual property under The Monsters series.

The new limited collection has driven significant consumer engagement, with long lines at retail locations in major cities around the world, including Los Angeles and London.

The fervor surrounding Labubu has also translated into digital success. On April 25, Pop Mart’s official app soared 114 spots in the US App Store, achieving fourth place in the overall category and top spot in shopping, according to the company.

Pop Mart

Wang Ning, Pop Mart’s chairman and CEO, said in its 2024 annual report that Labubu’s remarkable success last year propelled The Monsters’ revenue to 3 billion yuan ($415.2 million), a 726.6 percent increase compared to the previous year.

Pop Mart’s largest IP

The franchise now constitutes 23.3 percent of the company’s total revenue, making it Pop Mart’s largest IP.

A global audience

This sentiment reflects Pop Mart’s strategic focus on emotional value, collectibility and social attributes that resonate with a global audience.

About E. J. McKay

E.J.McKay is a Shanghai-headquartered investment bank with a special focus on mergers & acquisitions. We are one of the most long standing independent investment banks in China, with core business of mergers & acquisitions and financing advisory.