Overview

• Pop Mart forecasts a year-over-year profit increase of at least 350% in the first half of 2025, attributing the gain to booming sales of Labubu blind-box plush key rings.
• A limited-edition Labubu x Vans Old Skool plush reached nearly $9,000 in eBay bids, underscoring the dolls’ growing appeal as secondary-market investments.
• New flagship outlets, including one on London’s Oxford Street, have opened as Pop Mart accelerates its global retail footprint and explores beauty and lifestyle tie-ups.
• In response to a flood of counterfeits, Chinese customs seized over 46,000 fake dolls and Pop Mart rolled out QR-code and UV-verification measures to authenticate genuine Labubus.
• Despite safety incidents and intellectual property scrutiny from state media, Labubu pop-up events continue selling out within hours around the world.