The Labubu manufacturer makes a fortune: profits increase fivefold

BarcelonaThe Labubu craze not only forces people to queue up at Barcelona's Portal del Àngel to get one, no matter how hot it is, but it also makes money, a lot of money. Pop Mart, the Chinese company that produces and sells them, has broken records and increased its profits fivefold during the first half of the year thanks to these plush toys with a simultaneously devilish and tender appearance.

The toy not only appeals to Barcelona residents of all ages, but has become a global phenomenon on par with stars like Madonna. On her last birthday, the artist left behind iconic nicknames like "Material Girl" to blow out the candles. of a large cake in the shape of Labubu where you could read "Happy birthday Madudu" (a play on words with Madonna and Labubu). Singer Rihanna and soccer player David Beckham have also fallen for the charms of this doll, which is described as "ugly-cute."

"Labubu has established itself as one of the most desirable brands in the world," celebrates Pop Mart, which promises to "launch superior designs" and propel this line of business "to a lasting, world-class level." Until now, the most popular use of these dolls has been as accessories for backpacks or bags, but the company has announced that this week it will launch a mini version of Labubu that can be attached to phones, following the successful trail of Sonny Angel. The possibility of featuring these dolls in films or bringing them to amusement parks is also being considered.

With all this global Labubu fever, Pop Mart, which is listed on the Hong Kong Stock Exchange, saw profits rise 396.5% in the first six months of 2025 compared to the previous year, reaching around $637 million ($548 million). For its part, sales for the Beijing-based company have tripled, growing by 204% to $1.932 billion (€1.661 billion).

Precisely, the popularity of this character around the world significantly boosted sales outside of its native China. In this sense, the domestic market for Labubu went from representing 77% of all revenue to 60% in the first half of that year. Of the remaining 40% that the foreign market now represents for Pop Mart, the greatest growth was recorded in the Americas, where it multiplied its turnover by 12, and in Europe, where it was eight times higher. As explained by its CEO, Wang Ning, the company is exploring strengthening its presence in destinations such as the Middle East and Latin America.

All this, without forgetting, as the Hong Kong newspaper highlights South China Morning Post, that Pop Mart, "the world's most valuable toy producer," is consolidating itself as an "exporter of soft power (soft power) from China". In this sense, for many years the Asian country was understood by the West as an important producer of low-cost goods, but the success of Labubu is now joined by other cultural impacts on a global scale such as that of the popular video game Black Myth: Wukong, who managed to break global player records.

Inspired by Norse mythology

This mischievous, pointy-eared monster with a devilish grin named Labubu is inspired by Norse mythology. He was designed in 2015 by Hong Kong artist Lung Ka-sing for a series of picture books: The MonstersLabubu is one of the characters, but he's joined by others, such as Zimomo, Mokoko, Pato, Spooky, and Tycoco. Pop Mart recognized his potential and added him to its product line, releasing the first collectible figures in 2019.

Its popularity spread worldwide last year and became a viral phenomenon on social media. It took advantage of a marketing strategy that involves releasing limited editions. Pop Mart bases its business on the production and sale of collectible toys, many of which were developed by artists and sold in blind box –boxes with surprise products– for around fifteen euros. This has led some to warn that it is encouraging gambling addiction, as many people compulsively buy products until they get the desired Labubu.