The Chinese toy company is seeking to build long-term global franchises around its characters and reduce reliance on its breakout star.
Pop Mart earned 37B yuan in 2025 (40% from Labubu) and invests in theme parks and films to diversify its IP portfolio. The strategy mirrors Disney: multiple franchises reduce single-product risk and enhance competitive advantage via ecosystem scale.
East Asia
The Chinese toy company is seeking to build long-term global franchises around its characters and reduce reliance on its breakout star.
A Labubu performance at the Pop Land theme park in Beijing's Chaoyang Park.
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The Chinese company saw strong sales in overseas markets, especially in the US.
