On June 3rd, Chinese trendy toy brand Pop Mart reached a historic high in its stock price, touching HKD 235.6 per share, with its market value surpassing HKD 310 billion for the first time.
The recent surge in Pop Mart's stock price is closely linked to the global success of its original IP, Labubu. At the end of April this year, Labubu 3.0 was officially released, sparking a global buying frenzy. On April 25th, the POP MART app topped the shopping chart in the U.S. App Store; by May, the search popularity of Labubu surpassed that of the classic IP, Hello Kitty. JPMorgan forecasts that sales of the MONSTERS series will rise from HKD 3 billion to HKD 14 billion in the next three years, with overseas market growth reaching 152% this year. By 2027, Pop Mart’s overseas revenue is expected to account for 65% of total sales.
Source: Pop Mart Official Website
Represented by Labubu, Pop Mart is making strong progress in international markets. Pop Mart's journey abroad began in 2018 and has since expanded to 23 overseas countries and regions, including South Korea, Japan, and Singapore, with physical stores now open in the U.S., U.K., Canada, and New Zealand.
According to the Q1 2025 report, overseas revenue increased by 475% year-on-year. The Americas region saw the fastest growth, followed by Europe, emerging as new performance drivers after the Asia-Pacific market. As of May 29th, Pop Mart's market value surpassed HKD 300 billion, with its stock price soaring from HKD 16 at the beginning of 2024 to over HKD 200 by May 2025, marking a tenfold increase.
Source: Pop Mart Q1 2025 Latest Business Update Announcement
JPMorgan notes that Pop Mart's core competitiveness lies in offering "affordable enjoyment" and "real-time emotional connection." Pop Mart's success validates the shift in consumer logic in the post-materialistic era—consumers are not only buying physical toys but also emotional projections, community belonging, and social currency.
Founded in 2010, Pop Mart is a Chinese trendy cultural and entertainment brand, with a business scope that includes global artist discovery, IP incubation and operations, consumer engagement, promotion of trendy toy culture, and innovation in business incubation and investment. Currently, Pop Mart’s global success may signify the emergence of a new global IP ecosystem led by Chinese companies.