People look at collectable designer art toy Labubu at a Pop Mart pop-up store.
LILLIAN SUWANRUMPHA/AFP via Getty Images
Chinese toy maker Pop Mart International Group posted strong growth for the third quarter of 2025 that included a sales surge of at least 1,265% in America, sending its Hong Kong-listed shares 2.4% higher on Wednesday after investor concern over its future prospects started to dissipate.
The gain erases losses from Tuesday, when the stock fell over 8% as sentiment turned negative ahead of its announcement of preliminary results for the three months that ended in September.
But it turned out that Pop Mart has sustained the rapid pace of expansion, after worries emerged last month that its toys were just a fad. The company behind the Labubu dolls – which feature a rabbit-like creature with pointed ears, jagged teeth and a mischievous grin – announced on Tuesday that revenues for the July-September period jumped as much as 245% from a year ago, without disclosing exact figures in the preliminary update made to the Hong Kong Stock Exchange. Sales in mainland China were up between 185% to 190% year-on-year, while revenues from overseas markets jumped between 365% to 370%, according to the stock exchange filing.
“The market was once worried if Pop Mart can maintain growth in mainland China,” says Kenny Ng, a Hong Kong-based securities strategist at Everbright Securities International. “But the latest update shows that growth accelerated as compared to the first half of the year, no matter it is in China, Europe or the U.S.”
Ke Yan, Singapore-based head of research at DZT Research, says investors are particularly encouraged by the expansion in America, where revenues soared as much as 1,270% from a year ago, according to the stock exchange filing. The rate is even higher than the first six months of the year, when sales in the Americas were up 1,142.3% year-on-year. Amid the global collection craze, the Labubu dolls have been seen dangling from the bags of U.S. celebrities including Kim Kardashian and Lady Gaga, who use the toys as accessories to decorate their luxury bags.
And earlier this month, Apple Chief Executive Tim Cook received a custom Labubu as the billionaire visited a Pop Mart exhibition in Shanghai as part of his China tour, according to a post made via Cook’s verified account on Chinese social media platform Weibo. He also met the company’s 38-year-old founder Wang Ning, who has a net worth of $21.1 billion based on his stake in Pop Mart, according to Forbes estimates.
Source: https://www.forbes.com/sites/ywang/2025/10/22/shares-of-labubu-maker-pop-mart-rise-after-posting-strong-us-growth/
