Pop Mart is riding a wave of demand for its Labubu line as it rolls out a themed exhibition in Shanghai. The “monsters Convenience Store” show, built around POP MART’s Labubu IP, drew visitors as the company reported another wave of strong half-year results that underscored the global appeal of its collectibles.
In the first six months of 2025, Pop Mart’s revenue jumped 204.4% year over year to 13.88 billion yuan, while net profit attributable to shareholders surged 396.5% to 4.57 billion yuan. The results came in ahead of last month’s forecasts, which had called for at least 200% revenue growth and a 350% rise in profit.
Labubu plushies—the distinctive sharp-toothed, big-eared “ugly‑cute” dolls—have become a global sensation, with even a $30 Labubu keychain spotted on bags carried by Rihanna and Lisa of Blackpink. Analysts say this level of brand resonance helps Pop Mart’s pricing power and global reach, supporting continued growth for IP-led toy offerings.
Pop Mart’s shares traded about 10% higher in mid-afternoon trading after having kited down earlier in the session, reflecting both the stronger-than-expected earnings and the stock’s typical volatility in a relatively thin market. Analysts cited the possibility of short-seller cover as a driver of the late-session strength, alongside profit-taking by domestic hedge funds and retail investors. At the same time, longer-term institutional investors may view Pop Mart as a China consumption play, supporting a positive longer-term outlook.
Commentators noted that Labubu’s momentum could continue to lift Pop Mart’s top line, especially as the company broadens its footprint with more IP collaborations and themed experiences that convert fans into buyers. The Shanghai exhibition adds a tangible fan engagement layer to Pop Mart’s growing ecosystem, which blends digital reach with real-world experiences.
Summary
– Pop Mart reports six-month revenue of 13.88 billion yuan and net profit of 4.57 billion yuan, up 204.4% and 396.5% respectively.
– Results beat prior forecasts for robust growth.
– Labubu remains a major driver of brand exposure, with high-profile name checks and widespread social media visibility.
– Market reaction was positive, with shares up around 10% intraday amid ongoing volatility and investor mix shifts.
Additional notes and context
– The Labubu line’s popularity underpins Pop Mart’s strategy of leveraging recognizable IPs to fuel both product sales and experiential events.
– The Shanghai exhibition reinforces a trend toward experiential marketing as a complement to product launches, potentially boosting brand loyalty and repeat purchases.
– Investors should monitor the sustainability of Labubu demand, competitive pressure in the global collectibles space, and Pop Mart’s ability to monetize IP collaborations beyond one-off successes.
Overall, Pop Mart’s strong six-month results and the ongoing Labubu wave provide a hopeful signal for continued growth, even as the stock may remain subject to short-term volatility in a fluctuating market.