China's POP MART Targets $4 Billion In Sales This Year
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Pop Mart’s Labubu toys are fueling a 240 percent stock surge and making CEO Wang Ning one of China’s youngest billionaires.
Pop Mart, listed primarily on the Hong Kong Stock Exchange, has been the primary beneficiary of the Labubu craze. During the first half of 2025 alone, Pop Mart reported its net profit soared nearly 400%, with sales of Labubu-related products generating an estimated $418 million and comprising a substantial portion of revenue outside of China.
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Dupes of the internet-viral Labubu dolls are being sold around the world. Chinese authorities are now seizing them by the thousands in a counterfeit crackdown.
Labubus dolls are only available through online purchases and in-store pickups, if you can find one in stock. Adding to the scarcity factor is the blind-box packaging.
The U.S. Consumer Product Safety Commission has issued an urgent warning about fake Labubu dolls for posing a serious choking risk to young children.
First created in 2015 by the Hong Kong artist Kasing Lung, Labubus are fuzzy elf toys from the Chinese brand Pop Mart with keychain rings attached. After K-pop superstar Lisa started wearing them on her designer handbags in 2024, the toys became baubles displayed like precious gems on purses and backpacks worldwide.
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