LABUBU: new series, collabs, drops and resale.
Summaries are AI-generated
POP MART's Americas revenue grew 748.4% in 2025 but fell 16.5% in the first half of 2026, signaling the end of online traffic dividends. The company plans a California headquarters to shift from distribution to localization.
POP MART is partnering with Sony to bring LABUBU from blind boxes to the big screen. The company is building a cross-format IP ecosystem by opening POP Bakery, expanding collaborations, and adding digital experiences, while using data and artist collaboration to drive growth.
POP MART reported strong 2025 revenue and profit growth, with the LABUBU series contributing nearly 40% of total revenue. Despite the solid performance, the stock price has fluctuated violently due to cooling secondary market prices, stretched valuations, and concerns about the sustainability of the trend. The company is expanding overseas stores and cultivating other IPs to reduce reliance on a single hit character.
LABUBU's global popularity boosted POP MART's 2026 first-half revenue by 23.8%, with its THE MONSTERS series contributing 26% of total revenue. The article dissects the supply chain from IP development to manufacturing, logistics, and e-commerce, confirming business relationships with three listed companies: POP MART, Ecmoho, and Aoki Technology, while warning investors to distinguish between online rumors and actual performance impact.
POP MART released its 2026 interim results on August 20, with revenue up 23.8% to 17.173 billion yuan, but net profit growth slowed to 9.5%. Management lowered full-year expectations, causing the stock to drop over 8% on the day of the report.
2026 mid-year results show a 11% drop in overseas revenue. Wang Ning labels 2026 a 'year of operational adjustment' and leads visits to Apple and LVMH to learn ecosystem and brand building.
The POP MART City Park Carnival Shanghai tour kicked off on September 4 at the Oriental Pearl Tower City Plaza, running until November 1. The event replicates iconic park scenes, features POP BAKERY dessert pop-ups, and offers combo tickets to extend visitor stay and boost spending.
The LABUBU-themed tour opened on Sept 4 at Shanghai's Oriental Pearl Tower and runs through Nov 1. The event recreates park scenes with interactive games and features POP BAKERY pop-ups and bundled tourism tickets.
The POP MART City Park Carnival tour kicked off on September 4 at the Oriental Pearl Tower City Plaza in Shanghai, running until November 1. The event recreates park scenes with interactive games and links with POP BAKERY desserts and hotel packages to extend visitor stay and boost consumption.
POP MART International Group released its 2026 H1 report with revenue of 17.17 billion yuan, up 23.8%. Two of its IPs, LABUBU and Twinkle Twinkle, both generated over 2 billion yuan, with Twinkle Twinkle growing at 580.6%.
POP MART reported 17.2 billion yuan in 26H1 revenue, up 24%, but overseas revenue fell 11%. THE MONSTERS (LABUBU) revenue dropped, while Twinkle Twinkle became the second-largest IP. Figure sales stagnated, with plush toys driving growth.
POP MART's 2026 H1 revenue reached 17.17 billion yuan, up 23.8%, but THE MONSTERS revenue, home to LABUBU, fell 7.5%, and plush product revenue share rose to 57.2%. The company announced a share buyback plan of 2-5 billion HKD over the next 6 months, with the stock price dropping over 8% and market cap falling below 200 billion HKD.
POP MART reported 17.17 billion yuan revenue and 5.16 billion yuan net profit in the first half of 2026. THE MONSTERS revenue was 4.45 billion yuan, down 7.5%, while Xingxingren revenue was 2.65 billion yuan, up 580.6%. The company announced a buyback of between 2 and 5 billion yuan in the next six months.
LABUBU's cooling popularity has slowed down POP MART's growth. Founder Wang Ning stated on the August 20 interim earnings call that the company is unlikely to meet its 20% revenue growth target for the year.
The LABUBU 'Retro Barbershop' series launched on June 25 at 10 PM. While the secret figure initially saw a resale premium of over 6x, several regular items dropped below the retail price within 30 minutes, with a decline of more than 30%.
The LABUBU 'Retro Barbershop' series launched on June 25, with common items dropping below the retail price within 30 minutes, some by over 30%, while the secret item 'Mist White Noise' still commands a 4x premium.
The 'Retro Barbershop' series launched on June 25 with randoms at 159 yuan and a 1:72 chase rate. Regulars like 'Rainy Afterglow' dropped to 100 yuan within 30 minutes, a 30% drop, while the chase 'Misty White Noise' rose to 855 yuan.
LABUBU, the first Chinese art toy IP invited to the World Cup opening ceremony, appeared in Mexico City. POP MART and FIFA launched a collaboration series, transforming LABUBU into a blue football hero.
The 2026 designer toy market shifts from LABUBU's mischief to CRYBABY's emotional storytelling. CRYBABY saw 21% sales growth from Q2 to Q3 2025 on resale platforms, with rare figures exceeding $200. Analysts project the market at $15 billion by 2026, emphasizing narrative-driven collections.
POP MART launched the LABUBU x Sanrio 'Dream Adventure' blind box on March 12, selling out online immediately. The secret figure traded at 919 yuan, with common figures seeing over 20% resale premiums and some full cases priced above 1,000 yuan.
POP MART announced the THE MONSTERS x Sanrio family vinyl-face plush pendant blind box, launching online at 22:00 and selling over 30,000 units in one minute. The series includes 6 regular and 1 chase figure, priced at 159 yuan per box or 954 yuan for a full set. The LABUBU x HELLO KITTY vinyl plush figure, priced at 599 yuan, also sold over 9,000 units.
LABUBU sales underperformed during US Black Friday, with resale prices dropping significantly. POP MART's stock has fallen nearly 44% from its August peak, raising concerns about overseas growth sustainability and the loss of IP scarcity.
POP MART's stock has fallen over 40% from its peak, with a market cap loss of HK$200 billion and a 31% drop in institutional holdings. Labubu's hidden figures have seen a premium cut of over 50%, and regular styles are now trading below retail prices on second-hand platforms, with analysts predicting a shift from explosive to sustainable growth.
POP MART's stock price fell over 1/3 from its yearly high due to live stream controversies, underperforming new products, and resale market price drops. The company boosted production, limited purchases, and cancelled points redemption to fight scalpers and return to product value, yet hot items like Labubu saw resale prices crash, raising concerns about IP value and quality control.
The LABUBU '1 AM' series blind box, priced at 790 yuan for a full set, saw no queues and plummeting sales on launch day, with secondary market prices falling below 600 yuan. Experts note that IP popularity is cyclical and brands must return to quality and user trust.
Bandai Spirits will host the TAMASHII NATION 2025 exhibition in Akihabara from Nov 14‑16, 2025 across four venues, debuting new items such as Super Alloy LABUBU and Super Alloy Jagariko King, plus a dual‑spider controller from Astro Bot. Reservations for the METAL BUILD Kamen Rider Zero‑One begin at 16:00 on Nov 13, while commemorative items are sold via a lottery starting at 10:00 on Nov 14 through the Tamashii web store.
Dragged down by the broader HK new consumer sector, POP MART fell 8.08% on Oct 21, its largest single-day drop in six months. Despite the pullback, Q3 revenue surged 245%-250%, and LABUBU and Starry series show strong resale premiums.
POP MART's H1 2025 revenue reached 13.88 billion yuan, up 204.4%. THE MONSTERS series earned 4.81 billion yuan, driven by LABUBU. Plush category revenue was 6.14 billion yuan, accounting for 44.2%, overtaking figures for the first time.
POP MART reported a revenue growth of at least 200% and a net profit increase of over 100% for the first half of 2025. Despite the strong performance, the market remains unimpressed, reflecting a disconnect between fundamentals and secondary market sentiment.
LABUBU is a blind box figure from POP MART that has gone viral due to celebrity endorsements from Lisa, Rihanna, and others. With over 300 variants, the official retail price is around US$32 per box, but limited editions can reach US$7,000 on the resale market. Some UK stores temporarily halted sales due to fighting, and the manufacturer is adjusting the release mechanism.
