Pop Mart's Labubu plush toy series could bring the company over $1 billion this year, TechCrunch reports.
In the first half of 2025 alone, The Monsters collection, which includes Labubu, earned about $670 million — a 688% increase from last year. This gives reason to expect billion-dollar revenue by the end of the year.
The toys are sold in "blind boxes," where the buyer doesn't know which character they'll get. This approach encourages collectors to buy multiple boxes at once to collect the entire series.
Labubu became popular after K-POP member BLACKPINK Lisa confessed her love for the monsters. The toys were later spotted in the hands of Cher, Kim Kardashian, Paris Hilton, and designer Marc Jacobs. Some of the monsters are even used as key chains on designer bags.
The characters were created over 10 years ago and are inspired by folklore, particularly Scandinavian fairy tales and myths. Demand for Labubu is so high that they are sometimes hard to find in stores, and collector's editions often sell out within hours.
Pop Mart plans to expand international sales and release new series to maintain interest in the brand.