Labubu, a plush toy doll, is hanging off handbags around the world. And the monster-like accessory has helped its parent company’s revenue skyrocket.
Pop Mart, a character-based entertainment company and toymaker, reported a 400% first-half net profit this week. On a call with analysts on Wednesday, CEO Wang Ning, 38, said that the company could reach 30 billion yuan ($4.18 billion) in revenue this year “quite easy,” per Reuters.
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The Labubu brand is part of the Pop Mart’s Monsters series, which alone generated around $670 million in revenue in the first half of 2025, the company reported. Ning said on the call that it should lead to earnings of over $1 billion for the series by the end of the year. That’s a 688% increase year-over-year, per the New York Times. Meanwhile, Wired reports that Labubu had more sales than Mattel’s Barbie and Hot Wheels.
Two Labubu plush bag charms on an LV bag seen during Copenhagen Fashion Week, on August 07, 2025, in Copenhagen, Denmark. Edward Berthelot/Getty Images
Pop Mart is also planning to open 10 new locations by the end of the year in the U.S., where it currently has 40 staffed stores, and a mini Labubu for cell phones, which will launch this week, its CEO said Wednesday.
The company is popular in China, with more than 40 million collecting “members,” and it even has its own amusement park. It has other lines of toys in addition to Labubu, including Dimoo, Molly, and Skullpanda. But it’s the toys from The Monsters books series, created by Kasing Long, that took off globally. On its website, Pop Mart says the Labubu is “a small monster with high, pointed ears and serrated teeth,” which is a part of the series, inspired by Nordic mythology.
Who Founded Pop Mart?
Pop Mart was founded by its CEO, Ning, in 2010. The company went public in Hong Kong in 2020.
Forbes reports Ning’s net worth is around $26 billion.
How Much Is a Labubu?
On the Pop Mart website, the toys are sold at around $20 to over $900. There are also keychains and accessories sold for less. If you can even get one, that is.
The toys sell out during exclusive drops, and shoppers often wait in long lines at stores. It’s partially due to the company’s viral “blind box” method of packaging, a Kinder Joy-like experience where you don’t know what character you get until you open the box.
The plush toy gained popularity on TikTok, and customers call the dolls “cute and affordable.” But viral success came when Lisa from the popular K-pop group, Blackpink, began posting about them on Instagram in 2024.
There’s even a name for fakes: “Lafufu.”
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