Pop Mart International Group, the Beijing company behind collectible blind-box toys including the toothy Labubu, said it delivered a 185% increase in revenue for 2025 versus the prior year, reporting 37.12 billion yuan. Management said the top-line result was in line with market expectations.
The company highlighted robust global demand for its product lines - from plush toys and bag charms to a broader range of collectibles tied to intellectual properties such as The Monsters, Molly and Crybaby. That international appetite has helped transform Pop Mart from a domestic blind-box retailer into one of Chinas most closely watched consumer brands as it pursues further expansion overseas.
On a year-on-year basis, Pop Marts revenue almost tripled, rising from 13.04 billion yuan to 37.12 billion yuan. Profit attributable to owners rose sharply as well, to 12.78 billion yuan, up 308% from 3.13 billion yuan the year prior.
A central factor behind the companys recent momentum has been Labubu, the toothy character that has helped give Pop Mart broad appeal outside China. To support rising demand and bolster supply-chain resilience, the company said in January that it had added manufacturing capacity in Mexico, Cambodia and Indonesia.
Pop Mart also announced strategic moves aimed at strengthening its presence in international markets. The company plans to designate London as its European headquarters and has entered a collaboration with Sony Pictures to develop a film based on Labubu. Management framed these steps as part of a broader push to deepen its overseas footprint.
Summary
Pop Mart reported 2025 revenue of 37.12 billion yuan, up 185% year-on-year and in line with market expectations, driven by global demand for its IP-led blind-box products and supported by expanded manufacturing and international market initiatives.
- Key points
- 2025 revenue rose 185% to 37.12 billion yuan, matching market expectations - consumer goods and retail sectors impacted.
- Profit attributable to owners increased to 12.78 billion yuan, a 308% rise year-on-year - corporate earnings and investor sentiment affected.
- Overseas expansion accelerated with added manufacturing in Mexico, Cambodia and Indonesia, and plans to set London as the European hub - global supply chain and logistics sectors impacted.
- Risks and uncertainties
- Reliance on key intellectual property such as Labubu for overseas appeal could concentrate demand risk - affects consumer brands and licensing markets.
- Execution risk in scaling international manufacturing and establishing a European headquarters may affect supply-chain resilience and operating costs - impacts manufacturing and logistics sectors.