I can’t describe that excited thrill of getting a Labubu doll from one of the blind boxes from Pop Mart.
Do I have a problem? I don’t know.
But I can’t get enough of it!
This week, I am covering Pop Mart International and how it has defied the odds. Furthermore, I take a look also at U.S. banks making a big push up.
I sent out thousands of emails to investors to keep my company afloat in 2012. Only one replied, and gave me 2 million yuan. It was Mai Gang.
- Paraphrased from Wang Ning, the CEO of Pop Mart International.
It’s crazy to think that Pop Mart is as big as it is now.
What started off as a niche designer toy seller has exploded into the cultural scene across China and the world.
On 12 June 2025, Pop Mart launched a new line of collectibles for its Labubu …
And sold out within seconds online.
I admit it’s actually hard to get a good grasp of Pop Mart and Labubu. It is after all dependent on a collectible toy trend which can change overnight.
Who knows when will consumers move on the next big thing?
But at least for now, they are still hooked. And hooked badly.
Here are the facts:
Revenue has more than quadrupled from HKD2.8 billion in 2020 to HKD14.1 billion in 2024.
Its market capitalisation has tripled to US$42.8 billion in 2025 from US$15 billion in 2024. It’s the 43rd biggest company in China, on par with CITIC, Trip.com and China Pacific Insurance. $POP MART(09992)$
Its numbers don’t lie.
However, while it’s all good and dandy, there are some negatives to keep an eye out too.
The Chinese government is starting to clamp down on ‘blind boxes’ (which is a big feature of Pop Mart International).
Its recent drop by Morgan Stanley in one of its key indexes, sent share price down.
Counterfeits are a big problem.
In any case, my friend Su Wei is joining the queue for a Labubu this weekend, wish him luck!
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