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Pop Mart

Pop Mart
Pop Mart: A leading entity in the designer toy industry, Beijing-based Pop Mart specialises in collectible ’blind box’ toys and consumer goods. Primarily serving young adults, particularly Generation Z women, they are known for pioneering the "Pop Toy IP + Blind Box" model in China and achieving significant global expansion. Their business focuses on IP creation, retail through stores and Robo-shops, and fostering a collector community. However, the company faces criticism regarding the environmental impact of non-biodegradable materials and excessive packaging.
The Labubu float from Pop Mart makes its way down Sixth Avenue during the Macy’s Thanksgiving Day Parade in New York City last November. Photo: AP
China exports

How China’s brands are thriving in the US despite rising geopolitical tensions

Chinese brands like Pop Mart are winning over American consumers by projecting a global image and targeting niche markets.

China’s soft power

Opinion | China’s brands must outgrow diaspora bubble to hit soft power potential

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China consumption

China’s Pop Mart opens new store in Singapore’s Sentosa as domestic sales slow

European Union

Opinion | As the UK discusses an EU return, Hong Kong offers lessons

Like Hong Kong, which functions as a special administrative region of China, could the United Kingdom rejoin the European Union with a special administrative name?

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Workers remove a Union Jack flag, near the Elizabeth Tower, commonly known as Big Ben, on May 14. Photo: Reuters
Hong Kong stock market

What Labubu fatigue? Star investor buys bigger stake in Pop Mart

China’s answer to Warren Buffett now owns a 7.65 per cent stake in the toy brand, despite a lukewarm reception for the new Labubu Hair Salon series.

China’s private sector

Can Pop Mart sustain the Labubu juggernaut as China sales cool?

Analysts warn of rising sales pressure as China demand tapers off, even as Pop Mart bets on new launches and overseas growth.

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IPO

Mainland China theme park operator applies for listing in Hong Kong

Company operates Millennium City Park in Kaifeng, a life-size recreation of a famous painting from the Northern Song dynasty.

An interactive digital display of “Along the River During the Qingming (Ching Ming) Festival” at the Palace Museum in Beijing in July 2018. Photo: Simon Song
China’s private sector

China market is the ‘world’s toughest gym’ for global brands: McKinsey

Innovation, speed, and entrepreneurial agility are needed in China; foreign firms must adapt or lose ground, says McKinsey’s Joe Ngai.

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Mainland China

Pop Mart’s quarterly revenue surges but tepid fan growth overseas dims outlook

In the first three months, revenue in China alone surged 100 to 105 per cent, while growth was 25 to 30 per cent in Asia-Pacific.

South Korea

Pop Mart comes with a cool idea for red-hot Labubu: mini-fridges

The Chinese toymaker is launching two limited-edition Labubu-themed mini-refrigerators priced at US$878 each.

Labubu plush toys and keychains became popular globally in 2024. Photo: Dickson Lee
Labubu

China’s Pop Mart eyes expansion at home and abroad for its Pop Land theme park

The company’s sole theme park in Beijing will launch its upgraded Labubu Forest Zone on Thursday.

Pop Mart’s Pop Land theme park in Beijing. Photo: AFP
Hong Kong stock market

China’s Warren Buffett calls Pop Mart a long-term buy, hints at owning stake

Duan Yongping sees Pop Mart as a promising long-term investment, praising its growth potential and unique business model.

China’s private sector

Chinese firms drawn to Brazil as they seek anchor for Latin America expansion

Chinese brands like Mixue, BYD, and Geely are surging into Brazil, leveraging strong trade ties and local strategies for growth.

Hong Kong stock market

China’s Pop Mart struggles despite buy-backs as Labubu reliance sparks concerns

Toymaker’s shares have fallen nearly 50 per cent since February as investors weigh slowing overseas growth and dependence on flagship line.

Pop Mart has stepped up efforts to support its share price through buy-backs. Photo: Getty Images
Hong Kong stock market

Hong Kong stocks fall with Asia as Iran conflict drives oil prices higher

Most Asian markets retreat as surging oil prices fuel concerns over the economic fallout, while aluminium producers rally on supply fears.

The Hang Seng Index retreated 0.8 per cent on Monday. Photo: Dickson Lee
Hong Kong stock market

Pop Mart shares dive despite soaring profit as investors fear Labubu dependence

Labubu and The Monsters series make up 38 per cent of 2025 revenue, while conservative growth guidance for 2026 weighs on confidence.

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China consumption

China consumer firms post strong results but analysts warn recovery may lag

Hong Kong-listed consumer firms report strong results but analysts say the gains reflect structural shifts rather than broad recovery.

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Wealth management

Hong Kong family office summit draws Pop Mart billionaire among global guests

City is ‘strong and unwavering’ as wealth management hub, Chief Executive John Lee says to kick off fourth Wealth for Good summit.

Chief Executive John Lee speaks at the principal dinner of the Wealth for Good in Hong Kong Summit on Monday evening. Photo: Handout
Trending in China

How ‘painful bag’ became a popular subculture among Chinese youth

For ita bag enthusiasts, these creations symbolise freedom to express diverse passions, providing joy and relief through self-expression.

Mainland China

Pop Mart’s Labubu headed to big screen in collaboration with Sony Pictures

The Chinese toymaker’s star character will appear in a film co-written and helmed by the director of Paddington and Wonka.

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Hong Kong stock market

Hong Kong stocks extend win streak amid stabilising oil prices despite Iran war

Hang Seng Index rises for a third day, the longest run since January, as Wall Street rally and steadier oil prices boost mood.

The Hang Seng Index rose for the third consecutive day on Wednesday. Photo: Jelly Tse
China-Japan relations

Why Japan thinks China’s growing cultural clout is something it needs to counter

The global success of Chinese video games and animation – as well as the appeal of traditional culture – has triggered a reaction in Tokyo.

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Illustration: Henry Wong
China property

China mall shuffle: as EVs exit, who’s filling the ground-floor showrooms?

New demand for mall space comes from brands riding fresh trends, including Unitree Robotics, Pop Mart and Lululemon.

China consumption

Chinese bubble tea chain Mixue straps in for theme park project

World’s largest food-service chain is looking to monetise its Snow King mascot and give a boost to hometown economy.

Hong Kong stock market

Why HKEX’s board lot reform could pose challenges for HSBC and others

HSBC, Xiaomi, AIA and Pop Mart are among some 650 Hong Kong-listed firms that may need to change trading units under proposed lot reforms.

HKEX allows listed companies to determine their own lot size, resulting in about 2,700 listed companies having 44 different lot sizes. Photo: Sun Yeung
Hong Kong stock market

Hong Kong stocks slide for a second day as US-Iran war rattles sentiment

Risk-off sentiment is seen across major Asia-Pacific markets, with South Korea’s Kospi benchmark falling 7.2 per cent.

Financial data is displayed at the New York Stock Exchange. Photo: AP
Blackpink

Pop Mart’s Merodi Hong Kong debut highlights challenges of sustaining IP success

Toymaker’s latest character launch draws tepid demand, raising questions about the company’s reliance on Labubu’s success.

Hong Kong stock market

Hong Kong stocks fall as market reopens after 3-day Lunar New Year holiday

Tech heavyweights Alibaba, Baidu and Kuaishou drop as trading commences in the Year of the Horse.

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