Labubu drives Pop Mart's revenue surge as partnerships expand
Pop Mart's Q1 revenue jumped 75% to 80%, with Labubu collaborations still leading the charge and FIFA merchandise already on official shelves.
Pop Mart’s first-quarter 2026 update showed just how much Labubu is still carrying the company: revenue rose about 75% to 80% year over year, China revenue climbed 100% to 105%, and China online sales surged 150% to 155%. For collectors, the message is clear. Labubu is not fading into the background as Pop Mart expands, it remains the character pulling traffic, attention, and demand.
That strength was visible in the quarter’s partnership lineup. Pop Mart said collaborations including Labubu x Sanrio and Labubu x FIFA performed strongly, and the FIFA tie-in is already real on the company’s own product pages. The Monsters x FIFA Series includes items such as the Catch the Win Vinyl Plush Doll, with Labubu positioned inside a collection tied to the 2026 World Cup. The release pattern matters because it shows where Pop Mart is placing its biggest bets: not on one-off hype, but on a steady stream of Labubu drops and cross-brand launches that keep the character at the center of the calendar.
The broader company numbers show why Pop Mart keeps widening that playbook. The same first-quarter update put Asia-Pacific revenue up 25% to 30%, the Americas up 55% to 60%, and Europe and other regions up 60% to 65%. Pop Mart says it now operates in more than 23 countries and regions, with 350-plus offline stores and 2,000 Roboshops, so each new character campaign can land across a much larger retail network than the old blind-box lanes alone. A separate company campaign around Twinkle Twinkle and McDonald’s China also drew long lines and secondary-market prices reportedly more than 30% above retail, underscoring how Pop Mart is using limited tie-ups to keep the whole universe hot.
Even with that broader push, Labubu still reads as the flagship. Pop Mart says artist Kasing Lung created the character in 2015 as part of The Monsters universe, giving the figure a deeper backstory than a single viral wave. The company also said in 2025 that it had increased supply of plush toys, including Labubu, by 10 times and was producing around 30 million units a month, a sign that it is trying to meet demand without letting scarcity define the entire business. Pop Mart’s 2024 annual results showed revenue of RMB 13.04 billion, up 106.9%, with profit attributable to owners of RMB 3.13 billion, up 188.8%, while first-half 2025 gross margin rose to 70.3% from 64.0% a year earlier.
The scale of those figures explains the current strategy. Pop Mart is still building a wider character business, but Labubu remains the engine that makes the whole machine move, from FIFA capsules to the next limited drop waiting in line behind it.
This article was produced by Prism’s automated news system from verified source data, official records, and press releases, then run through automated quality and moderation checks before publishing. The system is built and supervised by the people who set the standards it runs under. Read our full AI policy.
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