In 2025, Labubu, the plush elf from Pop Mart's "The Monsters" series, became a global sensation. The character, created by Hong Kong artist Kasing Lung, has captivated collectors worldwide with its unique design inspired by Nordic folklore.
Pop Mart's revenue more than doubled in 2024 to ¥13 billion (~US$1.81 billion). Plush toy sales, largely driven by Labubu, increased by over 1,200%.
A four-foot-tall Labubu doll sold for approximately 1.08 million yuan (~$150,275) at a Beijing auction on June 10, 2025. The auction saw all 48 lots sell for a total of 3.73 million yuan (~$520,000).
The success of Labubu is fueled by its collectibility and the blind-box sales model. Global pop icons like Lisa from Blackpink, Rihanna, and Dua Lipa have been seen with the character, increasing its popularity. Pop Mart UK even paused sales to curb supply issues.
Pop Mart's CEO saw a $1.6 billion increase in wealth in late April due to soaring demand for Labubu. Labubu represents Asia's growing influence in global consumer culture and is a prime example of successful emotional branding.