Pop Mart, the Chinese collectible toy powerhouse known for its ‘ugly-cute’ Labubu character, has reported a blisteringly strong financial performance for the first half of FY25.

According to the company’s latest financial results, revenue surged 204 per cent year-on-year to approximately US$1.9 billion (13.88 billion yuan), driven by robust sales across its collectible figurines and a rapidly growing plush toy segment.

Adjusted net profit for the January–June period soared nearly 400 per cent, reaching about US$655 million (4.71 billion yuan).

Much of this growth stemmed from international markets, with revenue from the Americas increasing more than 1100 per cent to around US$315 million. The Apac region reached around US$440 million, while Greater China contributed approximately US$1.28 billion (8.28 billion yuan).

“For 15 years, we’ve lived by ‘respecting time and respecting craft,’ nurturing each character to thrive and delivering joy through products and experiences,” the company said in a statement. “Today, we’re proud to grow as an open, inclusive global IP platform.”

As of the first half of this year, Pop Mart has operated 571 stores worldwide, including major expansions in Southeast Asia, Europe, and the US.

Key franchises like Labubu, Skullpanda, Dimoo, and Molly each surpassed US$140 million in sales individually during the first half, reflecting the strength of Pop Mart’s proprietary IP portfolio.