Overview

• Pop Mart’s 2024 revenue more than doubled to 13.04 billion yuan as plush toy revenue surged over 1,200%.
• Labubu first appeared in 2015 picture books by Kasing Lung and achieved global retail expansion after plush key-ring launches in 2023.
• High-profile celebrities such as Rihanna, Kim Kardashian, Dillon Brooks and Lisa of Blackpink have showcased Labubu on social media.
• The company is developing beauty collaborations to extend Labubu into cosmetics and lifestyle products.
• Pop Mart is strengthening authentication systems across its retail and online channels to curb counterfeit Labubu toys.