Cwink Pop Mart Toy Company, which stands for the hugely popular Labubu dolls, said its profits have increased rapidly.
Pop Mart, whose stock value exceeds $40 billion, also said profitability has increased by building brand awareness around the world and controlling costs. Shops that have long queues around the world.
Pop Mart is best known for selling toys in “Blind Boxes” – a package that hides its contents until they open it. This marketing tactic has been criticised for promoting gambling and compulsive shopping.
Labubu Dolls, which launched in 2019, has helped the company become a major retailer that controls more sharing. The company’s stock valuation has risen nearly 600% over the past year.
Sales outside mainland China accounted for nearly 40% of the company’s total revenue in 2024.
Many shops around the world have had to suspend sales of Labubu dolls due to high demand. Such as Kim Kardashian and Lisa with the K-Pop group BlackPink. Labubu in the United States has increased by 5,000 per cent since last year, according to estimates by research company M Science.
“I haven’t seen anything like this with other manufacturers around 400 in China.
The fierce excitement around buyers has created a rapid resale market, where dolls originally sold for around $10 can reach prices in the hundreds of dollars.