A Deep Dive into the Global Phenomenon of Pop Mart "Labubu" Fever: Unpacking the 350% Profit Surge

Chinese designer toy company POP MART has announced that it expects its net profit for the first half of 2025 to increase by more than 350% compared to the same period last year, surprising both the industry and investors. The driving force behind this explosive growth is the "LABUBU" series, created by Hong Kong artist Kasing Lung. These "mischievous monster" figurines, characterized by their pointed ears and jagged teeth, have sparked a global craze, particularly among younger audiences, thanks to their blind box format, limited collaborations, and photogenic appeal on social media. This has led to long lines and high resale prices in the United States, Europe, and Southeast Asia. Sales in North America have surged approximately 5.5 times year-on-year, and the cumulative number of members has surpassed 46 million. Furthermore, POP MART's unique omni-channel network, which includes over 500 overseas directly-operated stores and 2,300 Robo Shops, has created a sense of supply constraint and exclusivity, pushing profit margins to 67%. This article will provide a comprehensive analysis of POP MART's remarkable success in over 10,000 words, focusing on six key aspects: ① the rapid growth of financial indicators, ② the development story and IP strategy of LABUBU, ③ the "Kidult" market and Gen Z consumer psychology, ④ measures against resale and counterfeit products, ⑤ implications for the Japanese market, and ⑥ potential risks and medium- to long-term outlook.