Chinese toy maker Pop Mart is forecasting a 350 per cent profit jump for the first half of 2025 as global demand for the wildly popular Labubu characters surges.

Shanghai

Chinese toy company Pop Mart is projecting a 350% surge in profits for the first half of the year, fueled by the global popularity of its Labubu toys. Originally based on storybook characters from 'The Monsters,' Labubu figures have become highly sought after, with demand increasing after celebrities such as Blackpink's Lisa promoted them.

The collectible toys are sold in blind boxes, adding an element of surprise that has driven repeat purchases and a thriving resale market. Some rare Labubu figures are now selling for hundreds of dollars, and a life-sized version was recently auctioned for over $200,000 Canadian. While the long-term staying power of the trend is uncertain, Labubu toys have become a social media sensation and a sought-after collectible worldwide.

Labubu maker Pop Mart forecasting a 350% profit surge

It's furry, colorful, and some even call them ugly. But these toys, called labooboos, have become a global phenomenon. I'm happy that she's happy. This one is the second version. Garhwantoi has carried labooboos in his store since January. This guy. But after K-pop superstar Lisa from the group Blackpink and other celebrities popularized the toy, he's been struggling to maintain his stock since. When I first started, I was probably selling maybe like two to three a week, but I'd say that it's like 10 times higher now. Labooboos are storybook characters turned toys, originating from the book series The Monsters. Chinese toy maker Popmart started selling the elf-like characters in 2019. The company is now forecasting a 350% profit surge for the first half of this year. Part of the excitement comes from the gamble. Each box carries a specific character, but you don't know which one you'll get until you open it. And some are more rare than others. That surprise keeps them coming back for more. And that also leads to an economy of buying and selling where those dolls are now traded for higher prices than they were originally purchased for. The high demand is driving up the price. Now in Canada, selling upwards of $70. Some rare finds even selling for hundreds on resale. A life-sized labooboo was also auctioned for more than $200,000 Canadian. It became a status kind of thing. A small luxury is something that is a bit more affordable to people now. And the more that people talk about one particular thing, the more they want to get involved with it. Labooboos have taken over social media feeds across the globe. But whether the toy will just be a short-lived fad or a long-standing character is still up for debate. Michelle Song, CBC News, Toronto.

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