This Chinese toy just outearned Mattel + Hasbro combined – and it's China's newest soft power weapon.
Photo by David Kristianto on Unsplash
The next big hype brand from China isn't a new electric car or killer robots, but plush toys!
Has anyone discovered Pop Mart and Labubu yet?
Pop Mart, the brand behind the cheeky rabbit character Labubu, is breaking all records in China and is a perfect example of how to build a brand today with social media, experience, and creativity.
The numbers are absolutely wild:
In 2024, Pop Mart achieved a revenue of 1.8 billion USD – more than Mattel + Hasbro combined.
Labubu alone generated 422 million USD, representing growth of over 700% in just one year (!).
The "Monsters" series featuring Labubu is now the company's most successful product line.
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And for those who once again think "that shit only works in China":
Almost 40% of total sales now come from outside China.
Pop Mart plans 100+ new stores worldwide, focusing on Europe, North America, and Southeast Asia.
Labubu has already gone viral in the West through collaborations with celebrities like Rihanna and BLACKPINK's Lisa.
In the UK, sales had to be temporarily halted last week due to public safety concerns! 🤯
What can Western brands steal from Pop Mart's playbook?
They've mastered the art of "blind box" mystery – customers don't know which variant they're getting, creating that addictive "one more try" psychology that keeps people coming back.
They've built a community, not just customers – fans trade, collect, and obsess together online. Pop Mart created a real social phenomenon.
They've proven that authentic creativity beats focus groups every time – Labubu's weird, slightly unsettling design shouldn't work according to traditional toy marketing, but that's exactly why it does!
And finally, they've shown that going global doesn't mean going generic – they've kept their quirky Chinese aesthetic while partnering with international celebrities.
What started as a small, fluffy collectible figure in China is now a global pop culture phenomenon! And for those who haven't heard of it yet, you now know what your kids will be bringing home... soon... 🫣😂
