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Pop Mart launching mini version of Labubu; sales could reach $5.4b
The Straits Times
|August 21, 2025
Pop Mart chief executive Wang Ning said on Aug 20 that his toy company was on track to meet its targeted revenue goal of 20 billion yuan in 2025 and that "30 billion yuan (S$5.4 billion) this year should also be quite easy".
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HONG KONG/SHANGHAI -
Mr Wang was speaking with analysts after Pop Mart announced record half-year results on Aug 19, with the makers of the ugly-cute Labubu doll reporting that net profit soared nearly 400 per cent as demand for the toys surged, particularly in higher-margin overseas markets.
Until now most popular as a charm for handbags, Pop Mart says it will this week launch a mini version of Labubu that can be attached to mobile phones.
Pop Mart executives also said on Aug 20 that expansion in emerging markets in the Middle East, Central Europe and Central and South America was being explored.
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