Labubu dollmaker Pop Mart has reported a near 400% increase in profits in their half-year results.
Shares in the Chinese company have risen more than 230% since the beginning of 2025 and it is now more valuable than Mattel, Sanrio and Hasbro combined, according to Sky News.
Just one month ago, the Chinese toy giant snapped up a £63m Oxford Street store and has had previous pop-ups in Harrods and Hamleys.
The group’s sales have now tripled to £1.4bn, while net profit reached nearly 400% to £474m during the first six months of the year, according to the Financial Times.
A key product behind the growth has been Labubu dolls, a viral grinning member of ‘The Monsters’ series, designed by illustrator Kasing Lung.
The dolls have been notoriously hard to buy and are favourites of celebrities, including football superstar David Beckham and media personality Paris Hilton.
The 38-year-old Pop Mart boss Wang Ning reported on Wednesday that his company was on track to meet its revenue goal of £2.06bn in 2025 and in June he was named China’s 10th richest person.
Around 40% of Pop Mart’s sales are reported to have come from outside China and executives are now saying that expansion in emerging international markets is being explored.
Wang said: “I think for overseas markets we’re still very positive, and we also believe there’s still very broad space for growth.”
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