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.
潮玩行业经历集体收缩，潮玩星球、暴蒙、漫库等品牌关店，GOODSLOVE一个月内关闭12家门店。LABUBU出现破发现象，行业面临单店盈利模型跑不通的挑战。
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 rising 23.8% to 17.173 billion yuan, while net profit growth slowed to 9.5% and gross margin stood at 69%.
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's H1 2026 revenue reached 17.17 billion yuan, up 23.8%, with net profit of 5.16 billion yuan. THE MONSTERS family generated 4.45 billion yuan, and Twinkle Twinkle revenue hit 2.65 billion yuan, growing 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 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.
