Pop Mart’s Global Expansion and Record Growth in 2024

Pop Mart International Group is continuing its global push, with a focus on North America and Europe. After a strong year in 2024, the company is set for even further growth, fueled by its popular Labubu dolls and celebrity endorsements.

Pop Mart soars with Labubu dolls and global expansion

Strong Financial Performance

In 2024, Pop Mart’s net income skyrocketed by 188%, reaching 3.1 billion yuan (S$570.6 million). This performance exceeded expectations, with full-year sales more than doubling to 13 billion yuan.

Global Expansion Strategy

Pop Mart is working on increasing its global presence by opening more stores in iconic locations. The company is also strengthening collaborations with artists and brands to further embed itself in pop culture.

Labubu Dolls Drive Success

The Labubu "Monsters" collection saw impressive growth, with sales reaching 3 billion yuan in 2024. Other intellectual property products, like "Crybaby," also saw revenue increases of over 1,500%.

Celebrity Endorsement Boost

Celebrity endorsements, particularly from Blackpink's Lisa, have further boosted Pop Mart’s global appeal, driving strong international sales and contributing to a 350% increase in its stock price over the past year.

Pop Mart's impressive growth and global expansion highlight its strong position in the toy industry. With successful product lines like Labubu and celebrity endorsements driving international demand, the future looks promising for this rapidly rising brand.