Pop Mart International said in a positive profit alert that the company is expected to see 350% profit growth in the first six months of 2025, coupled with 200% revenue growth across the same period.
The company known for its main product line of Labubu Dolls, attributes this growth to a boosted recognition of the Pop Mart brand and its specialised product categories; an increase in profits from overseas customers; and finally tighter cost controls in the form of product cost optimisation and stronger expense controls—all of which have led to improved profit levels for the company.
While the figures look promising, they are unaudited and have yet to be reviewed by a set of independent auditors or the company’s audit committee.
Revenues for the company skyrocketed in 2024, with sales of 13.03 billion Chinese Yuan, up from sales of 6.3 billion Chinese Yuan in 2023, as per figures from Yahoo Finance.
Labubu Dolls became hugely popular as an accessory after K-pop singer Blackpink frequently posted about her favourite versions on Instagram. A fashion trend was quickly formed with celebrities like Dua Lipa and Rihanna toting high-end miniature-looking elves on their purses.
High-end versions of Labubu frequently get sold as well, with the most expensive one being a human-sized version sold for over $150,000 at the Yongle International Auction in Beijing, as reported earlier by Coinheadlines.