LABUBU: new series, collabs, drops and resale.
Summaries are AI-generated
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 released its 2026 H1 report with 17.17 billion yuan revenue, up 23.8%. THE MONSTERS revenue fell 7.5% to 4.454 billion yuan. Vinyl product revenue reached 9.825 billion yuan, rising to 57.2% of total revenue. The company announced a 2-5 billion HKD share buyback plan, but the stock dropped over 8% and market cap fell 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.
POP MART Japan announced that its first store in Okinawa will open on July 25, 2026 at Hotel Collective 1F, 2‑5‑7 Matsuo, Naha City. The shop will feature a wide lineup such as the 10‑year THE MONSTERS ‘Hair Salon’ series and the CRYBABY ‘Cry Me An Ocean’ collection, and customers spending over ¥12,000, ¥15,000 or ¥24,000 will receive exclusive CRYBABY scarves, eye masks or picnic mats respectively.
The LABUBU 'Retro Barbershop' series launched on June 25 at 10 PM. While the chase figure initially saw a resale premium of over 6x, several regular items dropped below the 159 yuan retail price within 30 minutes, a drop 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 secret ratio. Regulars like 'Rainy Afterglow' dropped to 100 yuan within 30 minutes, a 30% drop, while the secret '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.
POP MART Japan says the THE MONSTERS 10th Anniversary exhibition will run from June 11 to July 5, 2026 at the Azabudai Hills Gallery, with electronic tickets on sale from May 25 on the official website at ¥2,500 each, including bonuses. During the run visitors can see original artwork, enjoy a themed café menu, shop at a POP UP store and join a lottery for a limited‑edition soccer towel, plus an immersive projection theater showing ‘The Story of Puca’.
POP MART Japan will host the ‘MONSTERS BY MONSTERS: NOW AND THEN’ 10‑year anniversary exhibition in Tokyo’s Azabu‑dai Hills Gallery from June 11 to July 5, with tickets on sale from May 25 on the official website. The show features an immersive projection theater, painting and sculpture zones, and eight themed areas—including limited‑edition merchandise and a raffle—offering a comprehensive look at Kasing Lung’s LABUBU universe.
On April 14, POP MART's stock rose over 8%, returning above HK$160 per share. Investor Deng Yaping voiced support and confirmed buying after the earnings report. Goldman Sachs' report highlights that the THE MONSTERS family, home to LABUBU, exceeded 10 billion yuan in revenue, and collab plush toys with Sanrio and FIFA sold out online.
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 has fallen by over 1/3 from its yearly high, with short sellers citing slowing growth and high IP concentration. The company boosted production and implemented purchase limits to curb scalpers, aiming to return to product value, yet prices for hot items like Labubu have collapsed on the secondary market, 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 consumption sector, POP MART fell 8.08% to HK$250.4 on Oct 21. Despite Q3 earnings surging and JPMorgan raising the target price, the stock is down ~15% from its August peak. Meanwhile, new releases like LABUBU show high resale premiums, with the WHY SO SERIOUS hidden figure trading at 13.4x the retail price.
POP MART Japan announced that its “Why So Serious” Halloween pop‑up shop will run from October 24 to October 31, 2025 at Cat Street in Shibuya, Tokyo. Entry is by a fully pre‑sale lottery, with the application page opening on October 17 and closing on October 19 23:59. The shop will feature characters such as LABUBU, Twinkle Twinkle, DIMOO, HACIPUPU and MOLLY, and will sell blind‑box plushies, accessories and limited SKULLPANDA items released on October 10, 2025.
POP MART's stock fell to HK$269 on September 10, with a market cap loss of HK$29.5 billion. Labubu 'Id' resale prices dropped from HK$4,356 to HK$834 in 90 days, and scalpers have paused buying, with full case prices falling.
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.
Created by artist Kasing Lung in 2015, LABUBU went viral in 2023 through keychain blind boxes, driven by celebrities like Rihanna and Blackpink's Lisa. In 2024, POP MART's revenue exceeded 13 billion yuan, with blind box toy revenue up over 1200%, with adult consumers as the main force.
From Sep 11 to Nov 3, 2026 Sanrio Puroland will host the Halloween event “PUROMONSTERSCRAMBLE” featuring a “KAWAII×MONSTER HALLOWEEN” theme. The event marks the first collaboration with POP MART’s LABUBU, including a 360‑degree immersive live show, DJ time, limited‑edition goods and a horror‑themed boat ride.
Global designer toy trends 2026 move past Labubu's massive 2025 run. Pop Mart's Monsters series, led by Labubu, generated $670 million in the first half of 2025 alone and drove total company revenue...
The LABUBU x Sanrio 'Dream Adventure' blind box recently launched, with the chase figure seeing a resale premium of over 5 times to 919 yuan, while ordinary versions like Pudding Dog and Pochacco traded below the original price, with a lowest transaction of 145 yuan.
