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Pop Mart Founder Joins China's Top 10 Billionaires
Pop Mart's Labubu mini dolls boosted global sales by 250% in Q3, with US revenue up over 1,200% driven by celebrity endorsements and blind box marketing.
- Recently, Pop Mart said its global revenue for the three months to the end of September jumped about 250% after the August launch of mini Labubu dolls.
- Marketing experts note Pop Mart’s blind boxes create lottery-like uncertainty, while celebrity exposure from Lisa, member of Blackpink, and franchises like Marvel amplify Labubu’s viral appeal on social media.
- International figures show Pop Mart’s America sales surged over 1,200%, Europe rose more than 700%, with over 2,000 vending machines worldwide and first-generation Labubu fetching $150,000 recently.
- On Thursday, investors pushed Pop Mart shares up more than 5.5% in Hong Kong, lifting its value to about $45.5b despite regulatory scrutiny from China and Singapore and criticism by People’s Daily.
- Other retailers are entering the blind-box market, with Miniso UK selling one every three minutes and rising 63% in sales over the past year, while counterfeit Labubu items and AI doll prototypes pose risks and opportunities.
Insights by Ground AI
26 Articles
26 Articles
Wang Ning - founder of the Pop Mart chain of stores and famous for his Labubu collectible toys, entered the top ten richest billionaires in China with a fortune of 22.3 billion USD
Coverage Details
Total News Sources26
Leaning Left4Leaning Right1Center7Last UpdatedBias Distribution59% Center
Bias Distribution
- 59% of the sources are Center
59% Center
L 33%
C 59%
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