Latest news with #Barbie-maker
Yomiuri Shimbun
12 hours ago
- Business
- Yomiuri Shimbun
Pop Mart Sees Revenue Hitting over $4 Bln This Year, to Launch Mini Labubus
HONG KONG/SHANGHAI, Aug 20 (Reuters) – Pop Mart chief executive Wang Ning said on Wednesday his toy company was on track to meet its targeted revenue goal of 20 billion yuan ($2.78 billion) in 2025, and that '30 billion ($4.18 billion) this year should also be quite easy.' Wang, who founded the company in 2010, was speaking with analysts after Pop Mart announced record half-year results on Tuesday, with the makers of the ugly-cute Labubu doll reporting net profit soared nearly 400% as demand for the toys surged, particularly in higher-margin overseas markets. Pop Mart was the most actively traded stock by turnover on the Hong Kong exchange on Wednesday. The shares rose more than 12.5% to their highest close since making their Hong Kong debut in December 2020. Executives also said on Wednesday that expansion in emerging markets in the Middle East, Central Europe and Central and South America was being explored. 'I think for overseas markets we're still very positive, and we also believe there's still very broad space for growth,' Wang said, adding that sales from North America and Asia Pacific this year would together equal China sales in 2024. In the United States, where Pop Mart currently has about 40 stores, Wang said the company will begin a phase of 'relatively rapid store openings' over the next year or two, with 10 more U.S. shops expected to open by the end of this year. Pop Mart's primary business is producing and selling collectible toys, many of them developed with artists and sold in 'blind boxes,' packages consumers buy for around $10 to $20 without knowing exactly which iteration of the toy is inside. Labubu, a toothy-grinned member of 'The Monsters' series of toys designed by Kasing Lung, has become a favorite of celebrities including Rihanna and David Beckham and has sold out around the world. Until now most popular as a charm for handbags, Pop Mart says it will this week launch a mini version of Labubu that can be attached to phones. Pop Mart said on Tuesday 'The Monsters' raked in 4.81 billion yuan ($669.88 million) in the first half, accounting for 34.7% of total revenue. Four other toy series' earned more than 1 billion yuan during the period, including 'Molly' and 'Crybaby,' it added. 'We expect more restocking of existing series and launch of new editions to drive earnings expansion in the second half. That said, shares likely remain overpriced as investors are overlooking the high business risk in the long run, in our view,' said Morningstar analyst Jeff Zhang. Shares in the company have risen more than 230% year-to-date, making Pop Mart more valuable than traditional industry giants like Barbie-maker Mattel MAT.O and Hello Kitty parent company Sanrio 8136.T, with a market cap of more than $50 billion. Next in Pop Mart's sights is a Disney-esque empire with executives saying the firm is optimistic about opportunities for Pop Mart characters to star in animated films and theme park attractions, though these are not expected to contribute a large amount of direct revenue in the short term.
Time of India
a day ago
- Entertainment
- Time of India
China's Pop Mart, maker of the Labubu doll, says profit soars nearly 400% in first half
China's Pop Mart , which has taken the world by storm with its ugly-cute Labubu doll , reported a nearly 400% first-half net profit on Tuesday on high demand for the toys and a shift towards higher-margin overseas markets. Net profit of 396.5% and a 204.4% jump in revenues exceeded numbers flagged in an earnings preview last month forecasting revenue growth of 200% in the first half of 2025 and a recurring net profit increase of at least 350% on the year. Shares in Pop Mart have risen more than 200% year-to-date, making the Chinese toy company more valuable than traditional industry giants like Barbie-maker Mattel and Hello Kitty parent company Sanrio. Pop Mart often sells its collectable figurines in so-called " blind boxes " with buyers not knowing the exact design they will receive until they open the packaging. One of the major drivers of the toothy-grinned Labubu's success has been its popularity with celebrity fans, who include Lisa of K-pop group Blackpink, singer Rihanna and ex-soccer star David Beckham. Pop Mart is pledging to increase supply of the dolls, which have sold out in stores around the world. Its CEO Wang Ning, in an interview with Chinese state media last month, said sales of Labubu will surpass 10 million units per day from September this year. Pop Mart classifies Labubu under its "The Monsters" intellectual property (IP) characters. It said on Tuesday that "The Monsters" raked in 4.81 billion yuan ($669.88 million) in the first half, accounting for 34.7% of total revenue. Four other IPs earned over 1 billion yuan during the period, including "Molly" and "Crybaby", it added.
Business Recorder
a day ago
- Business
- Business Recorder
Pop Mart sees revenue hitting over $4bn this year, to launch mini Labubus
HONG KONG/SHANGHAI: Pop Mart chief executive Wang Ning said on Wednesday his toy company was on track to meet its targeted revenue goal of 20 billion yuan ($2.78 billion) in 2025, and that '30 billion ($4.18 billion) this year should also be quite easy.' Wang, who founded the company in 2010, was speaking with analysts after Pop Mart announced record half-year results on Tuesday, with the makers of the ugly-cute Labubu doll reporting net profit soared nearly 400% as demand for the toys surged, particularly in higher-margin overseas markets. Pop Mart was the most actively traded stock by turnover on the Hong Kong exchange on Wednesday. The shares rose more than 12.5% to their highest close since making their Hong Kong debut in December 2020. Executives also said on Wednesday that expansion in emerging markets in the Middle East, Central Europe and Central and South America was being explored. 'I think for overseas markets we're still very positive, and we also believe there's still very broad space for growth,' Wang said, adding that sales from North America and Asia Pacific this year would together equal China sales in 2024. In the United States, where Pop Mart currently has about 40 stores, Wang said the company will begin a phase of 'relatively rapid store openings' over the next year or two, with 10 more U.S. shops expected to open by the end of this year. Pop Mart's primary business is producing and selling collectible toys, many of them developed with artists and sold in 'blind boxes', packages consumers buy for around $10 to $20 without knowing exactly which iteration of the toy is inside. Labubu, a toothy-grinned member of 'The Monsters' series of toys designed by Kasing Lung, has become a favourite of celebrities including Rihanna and David Beckham and has sold out around the world. Until now most popular as a charm for handbags, Pop Mart says it will this week launch a mini version of Labubu that can be attached to phones. Pop Mart said on Tuesday 'The Monsters' raked in 4.81 billion yuan ($669.88 million) in the first half, accounting for 34.7% of total revenue. Four other toy series' earned more than 1 billion yuan during the period, including 'Molly' and 'Crybaby', it added. 'We expect more restocking of existing series and launch of new editions to drive earnings expansion in the second half. That said, shares likely remain overpriced as investors are overlooking the high business risk in the long run, in our view,' said Morningstar analyst Jeff Zhang. Shares in the company have risen more than 230% year-to-date, making Pop Mart more valuable than traditional industry giants like Barbie-maker Mattel and Hello Kitty parent company Sanrio with a market cap of more than $50 billion. Next in Pop Mart's sights is a Disney-esque empire with executives saying the firm is optimistic about opportunities for Pop Mart characters to star in animated films and theme park attractions, though these are not expected to contribute a large amount of direct revenue in the short term.
Irish Examiner
a day ago
- Business
- Irish Examiner
Labubu-maker's revenue could hit over €4bn this year
Pop Mart chief executive Wang Ning said on Wednesday his toy company was on track to meet its targeted revenue goal of 20 billion yuan (€2.4bn) in 2025, and that "30 billion (€3.6bn) this year should also be quite easy." Wang, who founded the company in 2010, was speaking with analysts after Pop Mart announced record half-year results on Tuesday, with the makers of the ugly-cute Labubu doll reporting net profit soared nearly 400% as demand for the toys surged, particularly in higher-margin overseas markets. Pop Mart shares were up more than 5% in early Wednesday trading in Hong Kong. Executives also said on Wednesday that expansion in emerging markets in the Middle East, Central Europe and Central and South America was being explored. "I think for overseas markets we're still very positive, and we also believe there's still very broad space for growth," Wang said, adding that sales from North America and Asia Pacific this year would together equal China sales in 2024. In the United States, where Pop Mart currently has about 40 stores, Wang said the company will begin a phase of "relatively rapid store openings" over the next year or two, with 10 more U.S. shops expected to open by the end of this year. Pop Mart's primary business is producing and selling collectible toys, many of them developed with artists and sold in "blind boxes", packages consumers buy for around $10 to $20 without knowing exactly which iteration of the toy is inside. Labubu, a toothy-grinned member of "The Monsters" series of toys designed by Kasing Lung, has become a favourite of celebrities including Rihanna and David Beckham and has sold out around the world. Until now most popular as a charm for handbags, Pop Mart says it will this week launch a mini version of Labubu that can be attached to phones. Pop Mart said on Tuesday "The Monsters" raked in 4.81 billion yuan ($669.88 million) in the first half, accounting for 34.7% of total revenue. Four other toy series' earned more than 1 billion yuan during the period, including "Molly" and "Crybaby", it added. "We expect more restocking of existing series and launch of new editions to drive earnings expansion in the second half. That said, shares likely remain overpriced as investors are overlooking the high business risk in the long run, in our view," said Morningstar analyst Jeff Zhang. Shares in the company have risen more than 230% year-to-date, making Pop Mart more valuable than traditional industry giants like Barbie-maker Mattel MAT.O, and Hello Kitty parent company Sanrio 8136.T. Next in Pop Mart's sights is a Disney-esque empire with executives saying the firm is optimistic about opportunities for Pop Mart characters to star in animated films and theme park attractions, though these are not expected to contribute a large amount of direct revenue in the short term. Reuters
Straits Times
2 days ago
- Business
- Straits Times
Labubu maker Pop Mart sees profit soar nearly 400% in first half of 2025
Sign up now: Get ST's newsletters delivered to your inbox Pop Mart is pledging to increase supply of the Labubu dolls, which have sold out in stores around the world. SHANGHAI - China's Pop Mart, which has taken the world by storm with its ugly-cute Labubu doll, reported a nearly 400 per cent first-half earnings on Aug 19 on high demand for the toys and a shift towards higher-margin overseas markets. Net profit of 396.5 per cent and a 204.4 per cent jump in revenue exceeded numbers flagged in an earnings preview in July forecasting revenue growth of 200 per cent in the first half of 2025 and a recurring net profit increase of at least 350 per cent on the year. Shares in Pop Mart have risen more than 200 per cent year to date, making the Chinese toy company more valuable than traditional industry giants like Barbie-maker Mattel and Hello Kitty parent company Sanrio. Pop Mart often sells its collectable figurines in so-called 'blind boxes' with buyers not knowing the exact design they will receive until they open the packaging. One of the major drivers of the toothy-grinned Labubu's success has been its popularity with celebrity fans, who include Lisa of K-pop group Blackpink, singer Rihanna and ex-soccer star David Beckham. Pop Mart is pledging to increase supply of the dolls, which have sold out in stores around the world. Its chief executive officer Wang Ning, in an interview with Chinese state media last month, said sales of Labubu will surpass 10 million units per day from September this year. Pop Mart classifies Labubu under its 'The Monsters' intellectual property (IP) characters. It said on Aug 19 that 'The Monsters' raked in 4.81 billion yuan (S$860.6 million) in the first half, accounting for 34.7 per cent of total revenue. Four other IPs earned over one billion yuan during the period, including 'Molly' and 'Crybaby', it added. The company now has 571 stores - 40 of which it opened in the first half of 2025 - as well as 2,597 automated robot shops across 18 countries and regions, it added. REUTERS
