Summary
Pop Mart, the Chinese company known for its Labubu dolls, expects its profits to increase by 350% for the first half of the year. This growth is due to a worldwide interest in their dolls and effective cost management.
Key Facts
- Pop Mart expects profits to grow by 350% in the first six months of the year.
- The company says its revenues have more than tripled from the previous year.
- Labubu dolls are popular collectible toys that resemble small elf-like creatures.
- Collectors are following the trend and eagerly buying the Labubu dolls, causing them to sell out quickly.
- Pop Mart sells its toys in "blind boxes," where buyers don't know what's inside until they open them.
- Since launching Labubu dolls in 2019, Pop Mart has expanded with over 2,000 vending machines and stores globally.
- The company started trading shares on the Hong Kong Stock Exchange in 2020.
- About 40% of the company's revenue in 2024 came from sales outside mainland China.
