In 2024, the serrated-toothed doll Labubu became a cultural phenomenon in Asia and beyond, significantly boosting its producer PopMart's financial performance. The Chinese toymaker, famous for its collectible "blind box" mystery toys, reported an impressive annual sales growth of 107% compared to the previous year, reaching RMB 13.04 billion ($1.8 billion). Profits surged by 204%, largely driven by the success of its "The Monsters" toy line, which includes Labubu. This series alone contributed RMB 3.04 billion, or 23% of the company's total revenue. The global popularity of these toys has also fueled a 400% increase in PopMart's stock price over the past year.

PopMart attributes much of Labubu's success to its unique design and emotional appeal, along with endorsements from celebrities like Lisa from Blackpink, who posted about the doll on her Instagram account. Retail analysts point out that Labubu’s exclusivity and trendy image in Asia have played crucial roles in its widespread adoption. In terms of pricing, products from "The Monsters" collection vary widely in the US market, ranging from $8.99 for a small badge to $179.99 for a large plush toy.

The company's retail presence is predominantly concentrated in China, where it operates 401 physical stores and 2,190 vending machines. Globally, PopMart has expanded its footprint with 130 international outlets, including new openings in Italy, Spain, the UK, and the US. This strategic expansion highlights the brand's ambition to capitalize on the growing global demand for collectible toys.

As the popularity of Labubu continues to soar, it signifies a shift in consumer preferences towards unique and emotionally resonant products. The significant rise in PopMart's revenue and stock value underscores the potential of niche markets in driving substantial economic growth. With its robust expansion strategy and continued innovation, PopMart is well-positioned to maintain its leadership in the collectible toy industry and further explore untapped global markets.